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Showing posts from September, 2016

Convert an existing business into a company

Convert an existing business into a company under the companies act 2013. The new company registration as private limited company registration or public limited company registration. Convert an existing business into a company 1.An existing business can be convert into a company in any of the following ways: (a) by outright sale; (b) by having partners of the firm the only shareholders of the new registration company. (c) having a existing or new company become a partner of the firm which will be changed thereafter. (d) under sections 230 to 232 of the companies act, 2013 by amalgamation (e) by registration of under sections 366 of the Companies Act, 2013 existing joint stock company or existing joint family business.
2.Where the existing business is sold outright to a company. Whether the company is a private limited company registration or public limited company registration. A purchase agreement has to be executed by or on behalf of the company. Which is buying it and also by or o…

The Company Registration and the Relationship of Directors

Company Registration of Directors The directors stand in fiduciary relationship with the company registration services and they are the trustees of the company and hence they must not do anything which affects unfairly the rights of the company registration in Chennai.Where a leader of a company has rule of the assets of the company registration holds them for a specific purpose with in the meaning of section (10) of the limitation act 1963. He is not only a useful agent in the sense that he has become a trustee by reason of a director, but he is in fact a trustee because a company registration can only operate through its directors.
Company Registration Of Fiduciary As to the scope of the fiduciary nature of the relationship directors have been held to be sometimes agents of the company registration in Chennai.They are also implied to be trustees so far as the company’s property and its funds in their hands are connected. The law considered and created them as trustees of mon…

Why to form a company ?

There are different forms of organisations to choose from to do business such as sole proprietorship, partnership, co-operative societies, and joint stock company. Each one of these organisations has special features and characteristics of its own. The company as a form business organization that has come to acquire a pre-eminent position in modern times.Its superiority over other forms of business organisation is due to the following special characteristics :

Distinct legal entity :

On registration a company acquires a distinct legal entity of its own capable of assets, incurring liabilities and debts, charging and being claimed. A partnership firm on the other hand has no independent existence apart from its partners in the legal entity.
Limited Liability of a company member:

A company members liability is limited to the duration they have contributed or have undertaken to contribute to the capital of the company.The creditors of the company have no rights against the c…