Public company

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INTRODUCTION

A company is a group of persons associated together for the attainment of a common end, social or economic. Or we can say a company is an association of individuals formed for some common purpose.

The company incorporated under the section 3 (1)(i) of the Companies Act 1956 or some earlier company Acts. Companies incorporated under the companies Act 1956 are mostly business companies but they may also be formed for promoting art, research, charity, commerce, or any other useful purpose.

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A company, formed and registered under the Company Act, is regarded by law as a single person, having specified rights and obligations. The law confers on a company a distinct legal personality, with perpetual succession and a common seal.

OBJECTIVE OF THE TERM PAPER

  • The objective of the company formation is
  • To know, grasp the application of the corporate business law.
  • To know about the essential step to company formation
  • To know what are the essential documents regarding to the company formation.
  • To know about the legal formalities that is required for the formation of company.

FORMATION OF PUBLIC STEEL INDUSTRY

STEP 1- SELECTION OF THE TYPES OF THE COMPANY:-

We are forming PUBLIC COMPANY, section 3(1) (iv) of the companies Act 1956. We establish a steel industry. It is basically the manufacturing industry of steel.

STEP 2-SELECTION OF NAME FOR THE PROPOSED COMPANY:-

For the selection of name for the company following measures are taken by my team members:-

CIRCULARS:-

GENERAL CIRCULARS which are issued by the GOVERNMENT OF INDIA, MINISTRY OF FINANCIAL AND CORPORATE AFFAIRS. It is send or issued to all the registrars of the company and it is also issued to the regional and board of directors of the company. We have kept in all the parameters regarding the formation and naming of the steel company in steel sector. For example, we have kept in mind what all things and legal aspects are important for the formation of company and what all are its requirements.

ACTS AND BILLS:-

After we had finished up with the circulars and other legal formalities under company bill we then move to billing part. Under this various clauses are involved such as:-

  • Short title
  • Commencement and application
  • Memorandum
  • Articles of association
  • Company’s register charges
  • Removal of board of director

MEMORANDUM OF ASSOCIATION

THE COMPANY ACT, 1956

MEMORANDUM OF ASSOCIATION OF GANDHI TELECOM LTD

Contents of Memorandum:

The memorandum of association of every company must contain the following clauses given below:-

Name clause-

The name of the company is mentioned in the name clause.

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