What is the new requirement under 2013 Act for company formation?

A public company must be formed with seven or more persons (3(1)(a)). A private company must be formed with two or more persons (3(1)(b)). A one-person company (OPC) is formed with a single person. It is a private company with a single member which was introduced for the first time via the 2013 Act (3(1)(c)).

How do I close a company under Companies Act 2013?

Process for Voluntary Strike off (Closure of Company)

1. Hold Board Meeting to discuss and decide for voluntary strike off u/s 248(2)
2. Pay off all the liabilities before holding EGM.
3. Convene EGM for passing special resolution.
4. File Special Resolution in MGT-14 within 30 days.
5. File STK-2 form alongwith following documents.

When should a company file annual return?

The due date for filing annual return of a company is within sixty days from the date on which the annual general meeting of the Company is held. Annual General Meeting of a company must be held within 9 months of closing of accounts of a company, in case of first year of operations of a company.

Is it compulsory to file MGT 14?

MGT-14 needs to be filed by a company with the Registrar of Companies (RoC) in accordance with section 94(1) and 117(1) of the Companies Act 2013 and the rules made thereunder. However, the private companies are exempted from filing Board Resolutions.

How register a company under Companies Act, 2013?

Please find below the basic procedure for Incorporation of a Company under Companies Act, 2013:

1. Obtain Digital Signatures.
2. Obtain Director Identification Number [Section 153]
3. Name availability for proposed company.
4. Preparation of the Memorandum of Association (MOA) and Articles of Association (AOA)

What is minimum subscription as per Companies Act, 2013?

Minimum subscription refers to the minimum amount which a company should raise at the time of issuing capital. The requirement for minimum subscription applies to all companies which raise funds from the public. The company may successfully procure the amount of minimum subscription.

What is annual return as per Companies Act 2013?

Section 92 of the Companies Act, 2013 requires every company to prepare an annual return, a comprehensive document which contains information of a company relating to its share capital, indebtedness, directors, shareholders, changes in directorships, corporate governance disclosures etc.

Can MGT 14 be filed after 30 days?

eForm Number as per Companies Act, 1956 Form 23 as per Companies Act, 1956. resolution(s), date of passing of postal ballot resolution(s) and date of agreement if these dates are within 30 days of the filing date. If any of the date(s) are beyond 30 days, then separate form is to be filed for every such event date.

Do all ordinary resolution need to be filed?

While all special resolutions must be filed with the registrar of companies, comparatively few ordinary resolutions need to be filed with them. Only the following ordinary resolutions are required: Authorising directors to allot shares. Authorising a purchase of the company’s own shares.

How register a company under Companies Act?

Section 3 of the Companies Act, 2013, details the basic requirements of forming a company as follows:

1. Formation of a public company involves 7 or more people who subscribe their names to the memorandum and register the company for any lawful purpose.
2. Similarly, 2 or more people can form a private company.

What are the consequences of registering a company?

A company can sue and be sued in its own name.

• Perpetual succession. A company is a continuing entity at law with its own identity independent of changes in its membership.
• A company’s property is not the property of its participants.
• A company can contract with its own controlling participants.

  How many Schedules are there in Companies Act 2013?

  7 schedules
  The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules.

  Which of the following is not required to be prepared under companies Act?

  Which of the following is not required to be prepared under the companies act 1)balance sheet. 2)report of Directors and Auditors. 3)Funds flow statement. 4)Statement of profit and loss.