Section 8 Company : Procedure for Obtaining License from Central Government

Section 8 Company : CS Executive Classes

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An interesting topic from Advanced Company Law – ‘Section 8 Company’ is discussed below:

Procedure for Obtaining License from Central Government

For new companies (Rule 19)

Application in Form RD 1 to be made with ROC

Documents to be attached

– Draft copy of Memorandum of Association (MOA) as per Form INC 13

– Draft copy of the Articles of Association (Format not prescribed)

– A declaration in Form INC 14 by professional stating that the draft of the MOA and AOA have been drawn up in conformity with the provisions of Sec 8 and rules that all the requirements of the Act have complied there with.

– Details of promoters and Directors

– A projection of the future income and expenditure of the company for the next 3 years specifying the sources of income and the objects of the expenditure.

– IN Form INC 15, Declaration by the subscribers

– A statement specifying briefly the grounds on which the application is made.

– Form INC 12 (Manually filled up and signed)

Hard copies of the above application with all the attachments along with 3 copies of the MOA and AOA to be forwarded to ROC

IF APPROVED LICENSE ISSUED IN Form INC 16

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