Online Company Registration in Bangalore
If all the documents mentioned above are complete and the registrar of companies is satisfied that it is authorized to be registered under the he shall retain and register the memorandum and articles, if any. On the registration of the memorandum of a company the registrar shall certify under his hand that the is limited company. From the date of incorporation mentioned in the certificate of incorporation, such of the subscribers to the memorandum and other persons, as of incorporation, such of the subscribers to the memorandum and other persons, as may from time to time be members of the company shall be a body corporate by the name contained in the memorandum, capable forthwith of exercising all the functions of an incorporated company and having perpetual succession and a common seal, but with such liability on the part of the members to contribute to assets of the company in the event of its being wound up as mentioned.
A company on registration by the registrar of companies becomes a separate legal entity notwithstanding the fact that there was only one governing director who also held a majority of the shares of the company. The separate legal entity enabled cases 232, 246, 248, 249. Two companies which are incorporate with the same set of shareholders are nevertheless distinct and separate entities.
A company may also act, as several banking companies are actually doing, as trustee, executor or administrator, provided its constitution its memorandum of asscoationpremit or authorizes the doing of such business.
The advantage of incorporation is that the company nervier ceases to exist it has perpetual succession and remain in existence however often its members change until it is dissolved by liquidation. The company has an identity and existence independent of the estate and under taking owned by it, so that even if the estate management of the company.
A company incorporates under the companies act, is not created by the companies but comes into existence in accordance with the prevision of the act. It is not a statutory body because it is not created by statute. It is a body created in accordance with the provisions of the statue.
In state trading corporation of India ltd it was held that a company is a legal person, but it is not a citizen to as to claim the fundamental rights granted to citizens by the In company incorporated under the companies act, is not created by the companies act but comes in to existence in accordance with the provisions of the act. It is not a statutory body because it is not created by statue. It is a body created in accordance with the provisions of the statue.
