The proposed name of Section 8 company must include a word i.e. Foundation, Forum, Association, Federation, Chambers, etc. The objects of such a company can be the promotion of commerce, art, science, education, research, and others provided by the Act. This article concentrates on the Section 8 company registration process.
What steps are involved in the SECTION 8 Company Registration online process?
The Section 8 company registration online process has been simplified under the Companies Act, 2013.
Section 8 company registration forms include: SPICe+ Form, Form no. INC – 13, Form no. INC-14, Form no. INC-15, Form no. INC-9, Form no. INC 12 (not required to be filed anymore).
The registration steps include: 1. Obtain Digital Signature Certificate (DSC) File both Part A and B of online form Spice+ with the Registrar of Companies (RoC) for obtaining the license for Section 8 company along with all the necessary documents/attachments. (Form INC-14, INC-15, INC-9, MOA, AOA and other relevant documents as required)
2. The requirement to file Form no. INC-12 in order to obtain a license for Section 8 company, has been substituted via Companies (Incorporation) Amendment Rules, 2020, with effect from February 15, 2020. Where the license for Section 8 shall be issued through SPICe+ form only.
3. The Section 8 company registration fees (statutory fees for registration): - Statutory Fees is calculated on the basis of the Authorised Share Capital of the Company, and - Stamp duty rates are different for all the States.
Along with the statutory fees, the registration process will also include charges for obtaining DSC, DIN, Stamps, Notary, and Professional Fees.
SECTION 8 COMPANY REGISTRATION DOCUMENTS CONTAIN?
Purpose
List of Documents
For Obtaining DSC
ID (PAN/Voter ID/DL)
Address Proof (Voter ID/Bank Statement/Utility Bill not be older than last 2 months)
Photos
(Such documents must be self-attested)
For Name Reservation
Proposed name (it must have word Foundation/Association etc.)
Main Objects of the proposed company
For SPICE+ form
MOA, AOA
PAN, Address proof, ID proof of the subscribers to the Memorandum (First Directors of the company)
Rent Agreement of the Registered Office (duly Notarized)
NOC from the owner of the premises to use such premises as Registered Office
Utility bill of such premises (must not be older than last 2 months)
Declaration under form INC-15 (by all the directors)
Declaration under Form INC-14 (by the CA)
Estimated Income and Expenditure for the next three years in the specified Format.
For Agile Pro-S
Name of the Bank (where the company will open the Account)
Specimen Signature (in regards to EPFO)
NOC for opening a bank account
Declaration of Authorised signatory (in regards to GSTN)
A Section 8 Company as incorporated under the Companies Act does not hold the requirement of minimum share capital. An NGO established under Trusts is managed by the Trustees as per Trust Deed. Likewise, Section 8 Company is managed by the Board of Directors as per the MoA and AoA of such Company.