Company Registration Coimbatore

Company Registration Coimbatore

‘Limited Company’. It means a company limited by shares or by gurantee.The liabilirty of the members, in the case of a limited company, may be limited with reference to the nominal value of the shares, respectively held by them or to the amount which they haved respectively guaranteed to contribute in the event of winding up of the company.Accordingly, a limited company can be further classified into (a) company limited by shares, and (b) company limited by guarantee. These are discussed below.

Companies Limited by Shares

a company limited by shares is a registered company where the ;liability of its members is limited by its Memorandum of Association to the amount, if any, unpaid on the shares respectively held by them. Accordingly, no member of a company limited by shares, can be called upon to pay more than the nominal amount of the shares held by him. If his shares are fully paid-up, he has nothing more to pay. But in the case of partly-paid shares, the unpaid portion is payable at any time during the existence of the company on a call being made, whether the company is a going concern or is being wound up. This is the essence of a company limited by shares and is the most common form in existence.

Companies Limited by Guarantee

A company limited by guarantee or a “guarantee company” is a registered company having liability of its members limited by its memorandum to such amount as the member may respectively undertake to contribute to the assets of the company in the event of its winding up. Clubs, trade associations and societies for promoting different objects are examples of such a company. It should be noted that a special feature of this type of company is that the liability of members to pay their guaranteed amounts arises only when the company has gone into liquidation and not when it is a going concern.

As the regards the funds, a guarantee company without share capital obtains working capital from other sources, e.g. fees or grants. But a Guarantee company having a share capital raises its initial capital from its members, while the normal working funds would be provided from other sources, such as fees, charges, subscriptions, etc. 

The Memorandum of Association of every guarantee company must state that every member of the company undertakes to contribute to assets of the company in the event of its being wound up while he is member for the payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the charges, cost and expenses of winding up, and for adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified amount.

The Memorandum of a company limited by guarantee must state the amount of guarantee. It may be of different denominations.

In case of guarantee company having share capital the shareholders have two-fold liability: to pay the amount which remains unpaid on their shares, whenever called upon to pay, and secondly, to pay the amount payable under the guarantee when company goes into liquidation. The voting power of guarantee company having share capital is determined by the shareholding and not by the guarantee.

A guarantee company must include the word ‘limited’ or the words “private limited” as part of its name, and must register its articles, although it may adopt the provisions of the table ‘D’ of Schedule 1. It must also state the number of members with which it proposes to be registerd, although the number can be increased by means of a resolution.

We provide the service of private limited company registration, LLP registration, OPC Registration, service tax registration, SSI registration, ISO Certification,  sales tax registration, digital signature certificate, trademark registration, brand registration, logo registration, copyright registration, Patent Registration, in Coimbatore at low cost 

Company Registration Coimbatore

Company Registration Coimbatore

‘Limited Company’. It means a company limited by shares or by gurantee.The liabilirty of the members, in the case of a limited company, may be limited with reference to the nominal value of the shares, respectively held by them or to the amount which they haved respectively guaranteed to contribute in the event of winding up of the company.Accordingly, a limited company can be further classified into (a) company limited by shares, and (b) company limited by guarantee. These are discussed below.

Companies Limited by Shares

a company limited by shares is a registered company where the ;liability of its members is limited by its Memorandum of Association to the amount, if any, unpaid on the shares respectively held by them. Accordingly, no member of a company limited by shares, can be called upon to pay more than the nominal amount of the shares held by him. If his shares are fully paid-up, he has nothing more to pay. But in the case of partly-paid shares, the unpaid portion is payable at any time during the existence of the company on a call being made, whether the company is a going concern or is being wound up. This is the essence of a company limited by shares and is the most common form in existence.

Companies Limited by Guarantee

A company limited by guarantee or a “guarantee company” is a registered company having liability of its members limited by its memorandum to such amount as the member may respectively undertake to contribute to the assets of the company in the event of its winding up. Clubs, trade associations and societies for promoting different objects are examples of such a company. It should be noted that a special feature of this type of company is that the liability of members to pay their guaranteed amounts arises only when the company has gone into liquidation and not when it is a going concern.

As the regards the funds, a guarantee company without share capital obtains working capital from other sources, e.g. fees or grants. But a Guarantee company having a share capital raises its initial capital from its members, while the normal working funds would be provided from other sources, such as fees, charges, subscriptions, etc. 

The Memorandum of Association of every guarantee company must state that every member of the company undertakes to contribute to assets of the company in the event of its being wound up while he is member for the payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the charges, cost and expenses of winding up, and for adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified amount.

The Memorandum of a company limited by guarantee must state the amount of guarantee. It may be of different denominations.

In case of guarantee company having share capital the shareholders have two-fold liability: to pay the amount which remains unpaid on their shares, whenever called upon to pay, and secondly, to pay the amount payable under the guarantee when company goes into liquidation. The voting power of guarantee company having share capital is determined by the shareholding and not by the guarantee.

A guarantee company must include the word ‘limited’ or the words “private limited” as part of its name, and must register its articles, although it may adopt the provisions of the table ‘D’ of Schedule 1. It must also state the number of members with which it proposes to be registerd, although the number can be increased by means of a resolution.

company registration coimbatore

Advantages of Company

The Advantages of Having a Company Form of Business Organization

a Private/Public limited company has many advantages over proprietorships and partnerships, as elaborated below.

Limited Liability

First and foremost benefit of doing business via company is the limited liability conferred upon the company's directors and shareholders. As a sole trader or partnership business, personal assets of the proprietor or partners can be at risk in the event of a failure of the business, but this is not the case for a Company. The unfortunate events like business failures are not always under an entrepreneur's control; hence it is pivotal to secure the personal assets of the businessman in the event of crises.

Unlike proprietorship and partnership, if a Company becomes insolvent and is wound up, only the assets of the company are used to clear its debts. The Directors or Shareholders of the company have no personal liabilities and are not made bankrupt and are free to carry on business.

Legal Entity/Status or Recognition

A private limited company is a legal entity, a juristic person established under the Act. It has its existence separate from its director and members.
Private limited company status enables you to be taken more seriously than a proprietorship/partnership status does.
Operating as a private limited company often gives suppliers and customers a sense of confidence in a business. Larger organizations in particular will prefer in dealing with private limited companies than proprietorship/partnership organisations.

Easy to attract quality workforce and achieve strategic motivation of employees by using flexible and wide range of management designations.

Perpetual Succession

Another important characteristic of a private limited company is perpetual succession. It is a popular saying that the directors may come and go the members may come and go, but the existence of a company remains forever. A company once incorporated remains alive unless and until it is wound up by complying with the provisions of Law. The death, disability or retirement of any of its members does not affect the continuity of the company, irrespective of change in its membership.

There is no obligation for a Private limited company to commence business/trading within any set time period after its incorporation



Project Cost and Risk Factors

For entrepreneurs going for hi-tech or high capital outlay projects it is always advantageous to go in for a company form of organization. Where the financial stake involved is high, it is found that banks and financial institutions while sanctioning financial assistance, insist on having a private limited company.

Easy Transferability

Where it is proposed to sell the business as a going concern, all that is required is to transfer the entire shareholding to the purchaser and thus facilitate easy change in management and ownership. This will save time and money of the Promoters. Huge amount of stamp duty is saved.

Dual Relationship

In the company form of organization it is possible for a company to make a valid effective contract with any of its shareholders/directors. It is also possible for a person to be in control of a company and at the same time be in its employment. Thus, a person can at the same time be a shareholder, director, creditor and employee of the company.
For e.g.:
As a director he can receive remuneration.
As a shareholder he can receive dividend.
As a lessor he can receive lease rent.
As a creditor he can lend money and earn interest.
As a supplier he can supply goods from his/his family business.

Borrowing Capacity

A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured, accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to the company rather than partnership firms or proprietary concerns.

Taxation

Sole traders and partnerships pay income tax. Companies pay Corporation tax on their taxable profits. There is a wider range of allowances and tax deductible costs that can be offset against a company's profits.

Raising Money from Public

Public Limited Companies can raise large amount of capital from the general public by issue of shares and public deposits.

Private Limited Companies can raise capital only by private placement of shares and deposits.

company registration coimbatore

company registration Coimbatore

In the company form of organization it is possible for a company to make a valid effective contract with any of its shareholders/directors. It is also possible for a person to be in control of a company and at the same time be in its employment. Thus, a person can at the same time be a shareholder, director, creditor and employee of the company.
For e.g.:
As a director he can receive remuneration.
As a shareholder he can receive dividend.
As a lessor he can receive lease rent.
As a creditor he can lend money and earn interest.
As a supplier he can supply goods from his/his family business.

COMPANY REGISTRATION

COMPANY REGISTRATION COIMBATORE

The procedure for the incorporation of a private limited company is same as that of a public limited company (as discussed above) with the following exception:

1.      The company must have a minimum paid-up capital of one lakh rupees or such higher paid-up capital as may be prescribed.

2.      There must be at least two subscribers in place of seven.

3.       

4.      Form No. 29 need not be filed in this case.

5.      Registration of the articles of association with the company is compulsory. The provisions of Sectlon 3(1) (iii) of the Companies Act, 1956 should, however be included while drawing up the memorandum and articles of association of a private limited company. 

Company Registration Coimbatore

Company Registration Coimbatore

‘Limited Company’. It means a company limited by shares or by gurantee.The liabilirty of the members, in the case of a limited company, may be limited with reference to the nominal value of the shares, respectively held by them or to the amount which they haved respectively guaranteed to contribute in the event of winding up of the company.Accordingly, a limited company can be further classified into (a) company limited by shares, and (b) company limited by guarantee. These are discussed below.

Companies Limited by Shares

a company limited by shares is a registered company where the ;liability of its members is limited by its Memorandum of Association to the amount, if any, unpaid on the shares respectively held by them. Accordingly, no member of a company limited by shares, can be called upon to pay more than the nominal amount of the shares held by him. If his shares are fully paid-up, he has nothing more to pay. But in the case of partly-paid shares, the unpaid portion is payable at any time during the existence of the company on a call being made, whether the company is a going concern or is being wound up. This is the essence of a company limited by shares and is the most common form in existence.

Companies Limited by Guarantee

A company limited by guarantee or a “guarantee company” is a registered company having liability of its members limited by its memorandum to such amount as the member may respectively undertake to contribute to the assets of the company in the event of its winding up. Clubs, trade associations and societies for promoting different objects are examples of such a company. It should be noted that a special feature of this type of company is that the liability of members to pay their guaranteed amounts arises only when the company has gone into liquidation and not when it is a going concern.

The Memorandum of Association of every guarantee company must state that every member of the company undertakes to contribute to assets of the company in the event of its being wound up while he is member for the payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the charges, cost and expenses of winding up, and for adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified amount.

The Memorandum of a company limited by guarantee must state the amount of guarantee. It may be of different denominations.

In case of guarantee company having share capital the shareholders have two-fold liability: to pay the amount which remains unpaid on their shares, whenever called upon to pay, and secondly, to pay the amount payable under the guarantee when company goes into liquidation. The voting power of guarantee company having share capital is determined by the shareholding and not by the guarantee.

A guarantee company must include the word ‘limited’ or the words “private limited” as part of its name, and must register its articles, although it may adopt the provisions of the table ‘D’ of Schedule 1. It must also state the number of members with which it proposes to be registerd, although the number can be increased by means of a resolution.

Company Registration Coimbatore

Company Registration Coimbatore

In the company form of organization it is possible for a company to make a valid effective contract with any of its shareholders/directors. It is also possible for a person to be in control of a company and at the same time be in its employment. Thus, a person can at the same time be a shareholder, director, creditor and employee of the company.
For e.g.:


As a director he can receive remuneration.
As a shareholder he can receive dividend.
As a lessor he can receive lease rent.
As a creditor he can lend money and earn interest.
As a supplier he can supply goods from his/his family business.

COMPANY REGISTRATION COIMBATORE

COMPANY REGISTRATION COIMBATORE

As a sole trader or partnership business, personal assets of the proprietor or partners can be at risk in the event of a failure of the business, but this is not the case for a Company. The unfortunate events like business failures are not always under an entrepreneur's control; hence it is pivotal to secure the personal assets of the businessman in the event of crises.

Unlike proprietorship and partnership, if a Company becomes insolvent and is wound up, only the assets of the company are used to clear its debts. The Directors or Shareholders of the company have no personal liabilities and are not made bankrupt and are free to carry on business

COMPANY REGISTRATION COIMBATORE

COMPANY REGISTRATION

        We provide the service of private limited company registration, LLP registration, OPC registration

 Procedure for Incorporation of Private Limited Company Having a Share Capital

1.      The company must have a minimum paid-up capital of one lakh rupees or such higher paid-        up capital as may be prescribed.

2.      There must be at least two subscribers in place of seven.

3.      Registration of the articles of association with the company is compulsory. The provisions of Section 3(1) (iii) of the Companies Act, 1956 should, however be included while drawing up the memorandum and articles of association of a private limited company.

Selection of Name of the Company and Getting Name Availability from ROC

COMPANY REGISTRATION COIMBATORE

COMPANY REGISTRATION COIMBATORE

             The name made available by the Registrar remains Available for a period of six months therefore the promoters have to submit the required documents forms and other information to the registrar of companies within this period for registration of the company. However before getting the memorandum and articles printed it is advisable to have their drafts vetted by the concerned registrar of companies to avoid unnecessary expenditure of time and money in getting them printed and reprinted after incorporating modifications etc. that may be suggested by the registrar.

A public limited company need not necessarily prepare and get its articles of association registered along with its memorandum of association. In such a case table A of schedule 1 to the companies Act 1956 shall apply. However as a matter of practice every company gets the articles prepared to suit its individual requirements and registered along with the memorandum of association.

COMPANY REGISTRATION COIMBATORE

COMPANY REGISTRATION COIMBATORE

The Advantages of Having a Company Form of Business Organization

a Private/Public limited company has many advantages over proprietorships and partnerships, as elaborated below.

Limited Liability

           First and foremost benefit of doing business via company is the limited liability conferred upon the company's directors and shareholders. As a sole trader or partnership business, personal assets of the proprietor or partners can be at risk in the event of a failure of the business, but this is not the case for a Company. The unfortunate events like business failures are not always under an entrepreneur's control; hence it is pivotal to secure the personal assets of the businessman in the event of crises.
Unlike proprietorship and partnership, if a Company becomes insolvent and is wound up, only the assets of the company are used to clear its debts. The Directors or Shareholders of the company have no personal liabilities and are not made bankrupt and are free to carry on business.