Section 8 Company Registration In Rajasthan
Section 8 Company Registration in Rajasthan is done to promote the non-profit objective of trade such as commerce, arts, charity, education, religious environment protection, etc. For registering a Section 8 company in Rajasthan a minimum of two directors are required. Also, no minimum paid-up capital is required for registering a Section 8 company.
In India, a non-profit organization can be registered under the registrar of the societies or as a non-profit company under the section 8 company,2013. Here the profits are applied for promoting the objectives of the company and are not distributed as dividends among the shareholders. Section 8 Company and Section 25 Company are similar with the new Companies Act,2013 the Section 25 company has become Section 8.
Who is eligible to obtain Section 8 Company in Rajasthan?
Section 8 Company registration can be obtained by an individual or group of individuals, the objectives of incorporation should satisfy the central government.
- The company is willing to promote science, commerce, education, art, sports, research, charity, social welfare, environmental protection, or other objectives.
- The company has an intention of investing all the profits and the income that is generated in the promotion of such objectives
- When the company is not intending to pay dividends to the members.
What documents are required to obtain Section 8 Company in Rajasthan?
- Director Identification Number (DIN)
- Digital Signature Certificate of the Directors
- Memorandum of Association
- Articles of Associagtion
- Passport Size photographs
- Members ID proof such as Aadhar Card, Passport, Voter Id
- Details of the Director
- Address proof.
The process of Name approval in a Section 8 Company
The name approval process of the Section 8 Company is done simultaneously with the process of obtaining the Digital Signature Certificate to the MCA. The name of the section 8 Company has to end with words like foundation, forum, association, federation, chambers, councils, electoral trusts Etc. This process of name approval is generally completed within 24-72 hours. The Memorandum of Association and Article of Association are drafted once the name approval is obtained and other documents including the INC 12 are filed with the Registrar of Companies. The applicant must sign and mention his name, description, address, and occupation in this MOA and AOA subscription, A witness present there also has to sign to attest the signature.
Section 8 Company registration in Rajasthan can be obtained through IndiaFilings by submitting the documents online.