In India, incorporation of a company is governed by the Companies Act 2013. It is the most important piece of legislation that empowers the Central Government to regulate the formation, financing, functioning, and winding up of companies. It applies to the whole of India and to all types of companies, whether registered under this Act or an earlier Act. But it does not apply to universities, co-operative societies, unincorporated trading, scientific and other societies.
The Act is administered by the Central Government through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc. The Registrar of Companies (ROC) controls the task of incorporation of new companies and the administration of running companies.
The Official Liquidators who are attached to the various High Courts functioning in the country are also under the overall administrative control of the Ministry. The set-up at the Headquarters includes the Company Law Board, a quasi-judicial body, having the principal Bench at New Delhi, an additional principal bench for Southern Region at Chennai and four Regional Benches located at New Delhi, Mumbai, Kolkata, and Chennai. The organization at the Headquarters also includes two Directors of Inspection and Investigation with a complement of staff, an Economic Adviser for Research and Statistics, and other Officials providing expertise on legal, accounting, economic and statistical matters.
The four Regional Directors, who are in charge of the respective regions, comprising a number of States and Union Territories, interalia, supervise the working of the Offices of Registrars of Companies and the Official Liquidators working in their regions. They also maintain liaison with the respective State Governments and the Central Government in matters relating to the administration of the Companies Act, 1956.
Registrar of Companies (ROCs) appointed under Section 609 of the Companies Act, covering various States and Union Territories, are vested with the primary duty of registering companies floated in the respective States and the Union Territories and ensuring that such companies comply with the statutory requirements under the Act. Their offices function as registry of records relating to the companies registered with them.
For registration and incorporation of a company, an application has to be filed with Registrar of companies. Application for registration of a company accompanied by the selected names, Memorandum of Association and Articles of Association and other necessary documents is to be filed with the Registrar of companies of the State in which the company is proposed to be incorporated.
Under the Companies Act, an entrepreneur can form two types of companies, namely a private company or a public company.
A Private Company is one, the articles whereof contains the following restrictions:-
A Public Company, as defined in the Companies Act, has the following features:-
WHAT IS FINANCIAL REPORTING?
Financial reporting includes the following:
Why Register Your Company through Rajput Jain and Associates
Rajput Jain and Associates is a team of accounting professionals dedicated to providing comprehensive solutions for business establishment and management. From company registration in India to ongoing compliance, fiscal reporting, auditing, and advisory services, we cover all aspects of business needs. For any questions or to learn more about “Company Registration in India,” please contact us through the provided contact details. You can also chat with our experts by entering your email and phone number to request a callback. Our experts will get in touch with you to address all your queries.
For query or help, contact: singh@carajput.com or call at 9555555480
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