A Section 8 Company is registered as a limited company under section 8 of Companies Act, 2013. It holds the licence from Central Government.The main purpose of establishing a section 8 company is to promote non-profit objectives. In case of incorporation as a public limited company there should be minimum three directors. And two directors in case of incorporation as a Private Limited Company. In procedure for incorporation of Section 8 company various forms are to filed with MCA.
The main purpose of a Section 8 company is to promote non-profit objectives such as:
To register a company under Section 8 you need to just follow these steps:
Obtain DSC of at least one director to sign the E-forms related to incorporation.
For DIN application you will require Identity Proof and Address Proof
ROC will allot a DIN to the proposed directors.
It should be noted that the main objects should match with the objects shown in RUN Form
Applicants can access the free name search facility of existing companies available on the MCA portal
For application of licence for the Section 8 company.
The Registrar shall have power to include in the license such other conditions as may be deemed necessary by him
Along with the required attachments.
The maximum number of members in case of a private limited company can be 200. Further for a public limited company, there is no such limit.
The documents to be enclose with the application include:
a. Draft of MOA as per Form INC-13
b. Draft AOA
c. Declaration as per Form INC-14 (Declaration from Practicing Chartered Accountant)
d. Declaration as per Form INC-15 (Declaration from each person making application )
e. An estimate of future annual Income & Expenditure for next 3 years. Specifying the sources of the income and the objects of the expenditure.
Every subscriber shall sign the subscription pages of the MOA and AOA of the company. Along with his name, address, and occupation. This shall be in the presence of at least one witness who shall attest the signature and sign and add his name, address, and occupation.
Following are the documents to be attached with SPICE Form 32:
1. E- MOA and E -AOA.
2. INC-9 Affidavit and declaration by all subscribers and directors.
3. Declaration of deposits.
4. KYC of all Directors
5. Form DIR-2 along with a copy of the PAN Card and address proof of the directors.
6. Consent letter of all the directors.
7. Interest in other entities of the directors.
8. Copy of Utility bills (Not Older than 2 months).
9. NOC from the owner of the property if the premise is on lease/rent.