According to Indian Companies Act – 1956, the company for the promotion of commerce, art, science, charity or any other useful purpose and it intends to apply its profits, if any, or other income in promoting its objects and prohibits the payment of any dividend to its members, then the government may, by a license, direct that the association be registered as a company with limited liability without the addition to its name the word “Limited” or “Private Limited” Following are the steps to be taken to register the organization under sec 25. The first step towards registration of a company registered under section 25 of the Indian Companies Act) is the application for the availability of name to the registrar of companies, which must be made in the prescribed form no. together with the fees of Rs. 500.00. It is advisable to choose three other names by which the company will be called, in case the first name which is proposed is not found acceptable by the registrar.
Once the availability of name is finalized the application has to be made in writing to the regional director of the company law board. The application should be accompanied with following documents.
companies registration act
1.) Three printed or typewritten copies of Memorandum and Articles of Association of the proposed company, duly signed by all the promoters with their full name, address, and occupation.
2.) A declaration by an Advocate / Chartered Accountant that the memorandum and articles of association have been drawn up with conformity with the provisions of the Act. more information can be collected through the ngo registration procedure.
3.) Three copies of a list of the names, addresses and occupations of the promoters as well as of the members of the board of directors, together with the names of companies, associations and other institutions in which such promoters, partners and members of the proposed board of directors are directors or hold responsible positions, if any, with description of the positions so held. Section 80 g registration is another process for funding.
4.) A statement showing in detail the assets ) and liabilities of the organization as on the date of application.
5.) An estimate of the future annual income and expenditure of the proposed company, specifying the sources of the income and the objects of the expenditure.
6.) A statement giving a brief description of the work, if any, already done by the organization and proposed to be done.
7.) A statement specifying the grounds on which the application is being made.
8.) A declaration by each of the person making an application stating that he/she is of sound mind and not having any insolvency, not convicted by the court of any offence and does not stand disqualified u / s 203 of the Companies Act 1956, for appointment as director· The application should also, within a week from the date of making an application to the regional director of the company law board, publish a notice in the prescribed manner at least once in a newspaper in a local language of district in which the registered office of the proposed company is located, and at least once in a English newspaper circulating in that district. · It is in the hands of regional director to verify all the facts and then to provide a license.
