Скачать или смотреть Company Incorporation Lecture#1

Promoters of a Company Sec 2 (50)

Promoter means a person

who is named as a subscriber to the memorandum of association of a company; or

who has been named as such in a prospectus; or

who has control over affairs of the company. Such control can be directly or indirectly whether as a shareholder, director or otherwise; or

in accordance with whose advice, directions or instructions the board of the company is accustomed to act.

A person who is acting merely in a professional capacity cant be regarded as Promoter of the Company

Reservation of Name Sec 10
A person may make an application to the registrar for reservation of a name mentioned in the application for a period not exceeding sixty ( 60 ) days.

Application must be in such form and manner and accompanied by such fee as may be specified.

Where it is found that a name was reserved by furnishing false or incorrect information, such reservation shall be cancelled.

in case the company has been incorporated with false or incorrect information, it shall be directed to change its name.

The person making application shall be liable to a penalty not exceeding level 1 on the standard scale.

If the name applied for is refused by the registrar, the aggrieved person may within thirty ( 30 ) days of the order of refusal prefer an appeal to the Commission.

An order of the Commission shall be final and shall not be called in question before any court or other authority.


Prohibition of certain names. Sec 10
Company shall not be registered by a name which contains such word or expression, as may be notified by the Commission or in the opinion of the registrar is

identical with or resemble or similar to the name of a company; or

inappropriate; or

undesirable; or

deceptive; or

designed to exploit or offend religious susceptibilities of the people;

any other ground as may be specified.

Change of name by a company Sec 12,16
A company may,
by special resolution and
with approval of the registrar signified in writing,
change its name

The registrar shall enter the new name on the register in place of the former name.

Registrar shall issue a certificate of incorporation altered and on the issue of such a certificate, the change of name shall be complete.

From the date of issue of such certificate, company shall
continue to mention its former name along with its new name for a period of 03 months
on the outside of every office or place in which its business is carried on and
in every document or notice.

The change of name shall not affect
any rights or obligations of the company, or
render defective any legal proceedings by or against the company and
any legal proceedings that might have been continued or commenced against the company by its former name may be continued by or commenced against the company by its new name.