Explain the process of incorporation of | Class 11 Business Studies Chapter Formation of a Company, Formation of a Company NCERT Solutions

Question:

Explain the process of incorporation of a company.

Answer:

The incorporation of a company is a structured process that ensures its legal establishment. The first step involves selecting a unique name for the company and obtaining approval from the Registrar of Companies. Next, the promoters prepare essential legal documents such as the Memorandum of Association and Articles of Association, along with the consent of directors and statutory declarations. These documents are then submitted to the Registrar, accompanied by the prescribed fees. The Registrar scrutinizes the documents for accuracy and compliance with the Companies Act. Upon satisfaction, the Registrar issues the Certificate of Incorporation, which grants the company its legal status. This process ensures the company is created in accordance with statutory regulations, allowing it to operate as a legally recognized entity.

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Reference examples and data from the chapter when answering questions about Formation of a Company.
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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 4: Explain the process of incorporation of a company.....

Explain the process of incorporation of | Class 11 Business Studies Chapter Formation of a Company, Formation of a Company NCERT Solutions

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