Private Limited Company Registration in Salem
Private Limited Company Registration
Formulation of companies with charitable objects, etc.
(1) Where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be registered under this Act as a limited company
(a) has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object;
(b) intends to apply its profits, if any, or other income in promoting its objects; and
(c) intends to prohibit the payment of any dividend to its members,
the Central Government may, by license issued in such manner as may be prescribed, and on such conditions as it deems fit, allow that person or association of persons to be registered as a limited company under this section without the addition to its name of the word ―Private Limited Company Registration‖, or as the case may be, the words ―Private Limited‖ , and thereupon the Registrar shall, on application, in the prescribed form, register such person or association of persons as a company under this section.
(2) The company registered under this section shall enjoy all the privileges and be subject to all the obligations of limited companies.
(3) A firm may be a member of the company registered under this section.
(4) (i) A company registered under this section shall not alter the provisions of its memorandum or articles except with the previous approval of the Central Government.
(ii) A company registered under this section may convert itself into company of any other kind only after complying with such conditions as may be prescribed.
(5) Where it is demonstrated as per the general inclination of the Central Government that a constrained organization enrolled under this Act or under any past organization law has been framed with any of the articles determined in statement (an) of sub-segment (1) and with the limitations and denials as referenced separately in provisos (b) and (c) of that sub-segment, it might, by permit, permit the organization to be enlisted under this area subject to such conditions as the Central Government considers fit and to change its name by discarding the word ―Limited‖, or all things considered, the words ―Private Limited Company Registration in Salem from its name and immediately the Registrar will, on application, in the recommended structure, register such organization under this segment and all the arrangements of this segment will apply to that organization.
(6) The Central Government may, by request, repudiate the permit conceded to an organization enrolled under this segment if the organization contradicts any of the prerequisites of this segment or any of the conditions subject to which a permit is given or the issues of the organization are led deceitfully or in a way disregard of the objects of the organization or biased to open intrigue, and without partiality to some other activity against the organization under this Act, direct the organization to change over its status and change its name to include the word ―Limited‖ or the words ―Private Limited‖, all things considered, to its name and immediately the Registrar will, without preference to any move that might be made under sub-area (7), on application, in the recommended structure, register the organization likewise:
Given that no such request will be made except if the organization is given a sensible chance of being heard:
Given further that a duplicate of each such request will be given to the Registrar.
(7) Where a permit is disavowed under sub-area (6), the Central Government may, by request, in the event that it is fulfilled that it is basic in the open intrigue, direct that the organization be ended up under this Act or amalgamated with another organization enlisted under this segment: Provided that no such request will be made except if the organization is given a sensible chance of being heard.
(8) Where a permit is renounced under sub-area (6) and where the Central Government is fulfilled that it is basic in the open intrigue that the organization enrolled under this segment ought to be amalgamated with another organization enlisted under this segment and having comparable items, at that point, despite anything to the opposite contained in this Act, the Central Government may, by request, accommodate such amalgamation to frame a solitary organization with such constitution, properties, powers, rights, intrigue, specialists and benefits and with such liabilities, obligations and commitments as might be indicated in the request.
(9) If on the twisting up or disintegration of an organization enrolled under this segment, there stays, after the fulfillment of its obligations and liabilities, any benefit, they might be moved to another organization enlisted under this segment and having comparative items, subject to such conditions as the Tribunal may force, or might be sold and continues thereof credited to the Rehabilitation and Insolvency Fund shaped under segment 269.
(10) An organization enlisted under this area will amalgamate just with another organization enrolled under this segment and having comparative items.
(11) If an organization makes any default in consenting to any of the necessities set down in this segment, the organization will, without bias to some other activity under the arrangements of this area, be culpable with fine which will not be under ten lakh rupees yet which may reach out to one center rupees and the chiefs and each official of the organization who is in default will be culpable with detainment for a term which may stretch out to three years or with fine which will not be under twenty-5,000 rupees yet which may stretch out to twenty-five lakh rupees, or with both:
Given that when it is demonstrated that the undertakings of the organization were led falsely, every official in default will be subject for activity under segment 447
