Professional Documents
Culture Documents
FUNCTIONS OF A PROMOTER:
1) To conceive the idea,
2) To make detailed investigation,
3) To organize the resources,
4) To obtain the consent of persons willing to act as first
directors,
5) To decide the name of the company,
6) To get the necessary documents prepared,
7) To file the necessary documents with ROC.
Quasi trustee.
Fiduciary Position:
COMPANY FORMATION
PRELIMINARY STEPS: 2 or 7 or more persons - P Ltd or Public
Ltd, subscribe their names to MOA, for a lawful purpose.
Documents to be filed with ROC : MOA, AOA, agreement for
appointment of MD, list of directors, a declaration that all
legal requirements are met. Situation of Regd. office.
CERTIFICATE OF INCORPORATION: When all legal
requirements are met ROC will issue. Certificate is a
conclusive evidence of registration and it CANNOT be disputed
or challenged on any ground.
CASE LAW: JUBILEE COTTON MILLS LTD.
EFFECT OF REGISTRATION: It shall become a body
corporate, perpetual succession, a common seal, limited
liability for members, and a distinct legal entity.
CERTIFICATE OF COMMENCEMENT OF BUSINESS: A Public
Ltd Co. has to obtain this certificate before it can commence
the business.