Formation of Public Limited Company /Company Formation Registration in Pune

 

1.Promotion Stage

The promotion phase is the first phase of the formation of a company. It involves all activities, which is necessary for the company to start a business. This is a combination of ideas that leads to a business at the level of operation. Important steps in this phase of formation of the company are given below: -

Discovery of Business opportunity
Detailed investigations.
Assembling different factors.
Preparation of essential documents.

After taking the above activities into business, there is a clear physical structure identification, but no business can start at this level. This requires legal status, which is possible only through registration and it is said that the process involved is included.

2.Incorporation Stage.

The second step involves the formation of a public company, in which a company has gone under the registration process. The supporters need to arrange related documents and submit them to the Registrar for the integration of the company. These essential documents are as follows: -

1.Not less than seven members of the company must sign Memorandum of Association.

2.Not less than seven members of the company must sign Articles of Associations.

3.Promoters need to have submitted the requisite prospectus or a statement which is often called in lieu of prospectus with the registrar.

4.A complete detail of directors regarding willing to act his role in business along with by each of them duly signed.

5.The location / address of the office of registered company must be noticed.

6.The prescribed filling fee and payments of duly on share capital must be submitted along with original challan receipts.

7.A declaration regarding fulfillment of registration in accordance with the provision of Companies Ordinance and also approved by at least one of the authority called secretary.

8.Declaration certificates of nominated director’s.

The above all documents along with the requisite filling fee must be submitted with the registrar. Firstly the registrar will scrutinize entire documents on their receipt, and satisfied himself with the requirements under the law, and if it shows satisfactory result, he will register the company in the Register of Companies Ordinance and issue a certificate which may be called “Certificate of Incorporation”. This Certificate is a major evidence of the facts of the Companies Ordinance requirements, but business cannot start at this level.

3.Subscription Stage

 

In case of Private Limited Companywhere business can be start on collection of certificate of Incorporation. On the other side, a public limited company must undertake another essential requirement to begin his business i.e. “Certificate of commencement of business”. This phase of company formation is connected with the given key steps:-

1.It is essential that invitation has been made to general public to subscribe for the shares by issuing prospectus.

2.A statement which may be called in lieu of prospectus with the registrar has been submitted, in case of no prospectus has been issued.

4.Commencement Stage

1.This stage of public limited company is consists of the following documents:-

2.A declaration on account that payment of whole amount subject to share held in cash has been allotted up to the lowest amount of contribution.

3.A declaration on account that every director has compensated in cash in the total amount of the shares due.

4.A declaration on account that no any such amount likely to be repay to the applicants for shares which have already been recall for public subscription.

5.A statuary declaration which is signed by the authority known as secretary on account that all the requirements / conditions have been fulfilled.

The registrar with the satisfaction being entirely fulfilled that:

• All the declarations have been verified and submitted.
• A Certificate which is known as “Certificate of Commencement of Business” will be issued, if all other necessities of the Companies Ordinance have been completed. On collection of said certificate any company is allowed / permitted to begin its business.
  
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