Company Registration in Tirupur
Requirements to be fulfilled for commencement of business [section 11(1) of Companies Act,2013]
Section 11(1) of the 2013 Act prescribes certain requirements which are fulfilled by a company before it can commence business or exercise borrowing powers.The requirements are:
1) A declaration is to be filled by the director of the company in the prescribed form as provided under Rule 24 of Companies (Incorporation) Rules,2014 with the Registrar starting that every subscriber to the memorandum has paid up for the shares agreed to be taken by them and that the paid up capital is not less than five lakh rupees in case of a public company and less than one lakh rupees in case of a private company.
2) A verification of its registered office is to be filed by the company with the Registrar in accordance with the provisions of the Sub-section (2) of section 12 of the 2013 Act.
It is pertinent to note here that unlike section 149(2A) and (2B)of the 1956 Act,section 11 of the 2013 Act does not contain any special requirements to be filed to a company to commence a business which is in pursuance of objects other than its main objects as stated in the memorandum.This omission in section 11 of the 2013 Act is a result of the operation of section 4(1)(c) of the 2013 act that does not provide for the division of the objects of the company into three categories,namely main main objects,incidental or ancillary objects and other objects,as was provided in section 13(1)(d) of the 1956 Act.
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