Thursday, 24 May 2018

Company Registration in Tirupur

Company Registration in Tirupur

Company Registration in Tirupur

Cancellation of licence [Section 25(7) of Companies Act, 1956]

The Central Government is empowered to revoke the licence granted under sub-section (1) of section 25 of the 1956 Act, after affording an opportunity of hearing. This power has, however, to be invoked on considerations, and through not explicitly stated, such an order has to be a speaking one to be in consonance with principles of natural justice. In the event of a mala fide or arbitrary action to cancel the licence, the aggrieved association may challenge the order of the Central Government under the Article 226 of the constitution. Under section 8 of the 2013 Act, sub-section (6) empowers the Central Government to revoke the licence granted under section 8 for contravention of provisions of the section and for other reasons enumerated in the sub-section (6) of section 8 of the 2013 Act. The provision to section 8(6) of the 2013 Act states that an order for revocation of licence shall not be made unless reasonable opportunity of being heard has been afforded to the company. Also note that the power of the central Government under Section 8(6) of the 2013 Act has been delegated to Regional Directors.

Merger of Business undertakings into section 25 Companies under Companies Act,1956

Where the other requirements of a valid merger etc., were satisfied the objection of the Registrar to a scheme of arrangement and reconstruction of four different companies into a section 25 company (under the 1956 Act) in the nature of a charitable trust was brushed aside business if any violation of the conditions of licence under section 25 of the 1956 Act was involved that could be taken care of by the Government under its powers under section 25 of the 1956 Act and was not a ground for refusing the proposed merger of business undertakings into a charitable undertaking.

Alteration of objects with approval 

A body licensed under section 25 of the 1956 Act cannot alter any provision of its memorandum in respect of its objects, except with the previous approval of the Central Government. If the alteration comes within any of the clauses of sub-section (1) of section 17 of the 1956 Act, the provisions of that section must also be complied with, by passing a special resolution. In England an alteration of a Charitable Company's objects clause  requires prior written consent of the commission of charity under the Charities Act, 1993, section 64. Section 8(4)(1) of the 2013 Act can be compared to section 25(8) of the 1956 Act. In addition to the Articles , any change in the memorandum of the company registered under section 8 of the 2013 Act will also require approval of the Central Government under section 8 of the 2013 Act.

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