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There are certain parameters prescribed under Rule 8 of the Companies (Incorporation) Rules, 2014 and the proposed name should fulfill such parameters. However, acceptance of the proposed name is subject to the discretion of the officer handling the case.
Under dematerialization of shares/securities, physical share certificates are converted into an electronic form and all the physical share certificates are destroyed upon conversion.
After the insertion of Rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014, it is mandatory for every unlisted public company to issue securities only in dematerialized form.
It is not mandatory to have a commercial space for maintaining a registered address. Any premises, either owned or rented, or leased, can be the registered address of the Company.
Requirement of minimum capital of Rs.5,00,000 for a public company has been omitted by the Companies (Amendment) Act, 2015 and accordingly, a company can be incorporated with any amount of capital.
It is mandatory for a private company to maintain a minimum number of 7 shareholders. If at any time the minimum limit of members falls below the prescribed limit, then it has to increase the limit by at least up to 7 members within a period of 6 months.
A minimum number of 3 directors are required to incorporate a private company and a maximum limit of 15 directors is prescribed under the Act. However, the Company may have more than 15 Directors subject to the approval of members.
It will take from 15-20 working days to incorporate a company if you have all the required documents/information in order.
Yes, an NRI or a foreign national can become a director of a public limited company. However, there should be at least one resident director on the board of the company.
Unlike private companies, shares of public companies are freely transferable among the public.