Incorporation and Incidental law

Question 1

what is the Definition of company

Answer 1

It means a company incorporated under this act or any previous company law

Question 2

what is the Section for definition of company

Answer 2

Section 2(20)

Question 3

what is Previous company law

Answer 3

Previous company law means any of the previous Companies law, i.e. Companies act,
1866/1882/1913/1956 etc

Question 4

what is the section of previous company law

Answer 4

sec 2(67)

Question 5

what are the years mentioned in previous company law

Answer 5

1866/1882/1913/1956 etc

Question 6

what is the definition of promoters

Answer 6

Sec 2(69) – Promoter means a person –
(a) Who has been NAMED AS SUCH IN PROSPECTUS or is identified by the company in the annual return,
or
(b) Who has WHO HAS CONTROL OVER THE AFFAIRS OF THE COMPANY, directly or indirectly whether as a shareholder, director or otherwise; or

(c) In accordance with whose ADVICE, DIRECTIONS OR INSTRUCTIONS, the board of directors of the company is accustomed to act.

NOTE: Persons acting IN PROFESSIONAL CAPACITY ONLY are not regarded as promoters. Ex: Banker,
Accountant etc.

Question 7

what is the section for definition of promoters

Answer 7

Sec 2(69)

Question 8

what should be mentioned in the prospectus

Answer 8

Sec 2(69) – Promoter means a person –
(a) Who has been NAMED AS SUCH IN PROSPECTUS

Question 9

by which document company can identify the promoter

Answer 9

Sec 2(69) – Promoter means a person –
(a) Who has been NAMED AS SUCH IN PROSPECTUS or is identified by the company in the annual return,

Question 10

in what ways promoter can have control over the affairs of the company

Answer 10

Who has WHO HAS CONTROL OVER THE AFFAIRS OF THE COMPANY, directly or indirectly whether as a shareholder, director or otherwise

Question 11

what are the things that the board of directors of the company are accustomed to act ,in accordance to the promoter

Answer 11

In accordance with whose ADVICE, DIRECTIONS OR INSTRUCTIONS, the board of directors of the company is accustomed to act.

Question 12

who are the people not regarded as promoter

Answer 12

Persons acting IN PROFESSIONAL CAPACITY ONLY are not regarded as promoters.
Ex: Banker,Accountant etc.

Question 13

what is the definition of formation of company

Answer 13

Where the company to be formed is NO OF MEMBERS
PUBLIC 7 or more
PRIVATE 2 or more
ONE
PERSON
COMPANY
(Private company)
1 Person Provided,
1. That one person shall specify the name of the nominee
in the MOA who would take his place in case of his
death or his incapacity.
2. Written consent shall be taken from such person and
filed with ROC.
3. At any time, member can change the nominee.
4. Intimate such changes to the company and ROC.
5. Such alteration will not be considered as alteration of
memorandum.

Question 14

what is the section of formation of company

Answer 14

section 3

Question 15

what is the number of members of public company

Answer 15

7 or more

Question 16

what is the number of members of private company

Answer 16

2 or more

Question 17

what is the number of members of opc
company

Answer 17

one person

Question 18

what is the definition of private company

Answer 18

―private company‖ means a company having a minimum paid-up share capital as may be prescribed, and which by its articles,—
(i) restricts the right to transfer its shares;
(ii) except in case of One Person Company, limits the number of its members to two hundred:
Provided that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this clause, be treated as a single member:
Provided further that—
(A) persons who are in the employment of the company; and
(B) persons who, having been formerly in the employment of the company, were members of the
company while in that employment and have continued to be members after the employment ceased,
shall not be included in the number of members; and
(iii) prohibits any invitation to the public to subscribe for any securities of the company;

Question 19

what is the definition of public company

Answer 19

―public company‖ means a company which—
(a) is not a private company;
(b) has a minimum paid-up share capital as may be prescribed:
Provided that a company which is a subsidiary of a company, not being a private company, shall be
deemed to be public company for the purposes of this Act even where such subsidiary company continues
to be a private company in its articles ;

Question 20

what is the definition of opc company

Answer 20

―One Person Company‖ means a company which has only one person as a member;

Question 21

what is the section numbers of the definition of opc company ,private ,and public

Answer 21

section 2(62),section 2(68),section 2(71)

Question 22

what is the procedures of incorporating a opc

Answer 22

1 Person Provided,

1. That one person shall specify the name of the nominee
   in the MOA who would take his place in case of his
   death or his incapacity.
2. Written consent shall be taken from such person and
   filed with ROC.
3. At any time, member can change the nominee.
4. Intimate such changes to the company and ROC.
5. Such alteration will not be considered as alteration of
   memorandum.

Question 23

what alteration is not considered as alteration of memorandum

Answer 23

At any time, member can change the nominee.
Intimate such changes to the company and ROC. Such alteration will not be considered as alteration of memorandum.