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● Section 8 Company Registration :
Section 8 Company is named Section 8 of the Companies Act, 2013, which pertains to a established 'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object', provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. Therefore, Section 8 Company or Section 25 Company is a company registered under the Companies Act, 2013 for charitable or not-for-profit purposes.
A Section 8 Company is similar to a Trust or Society; expect, a section 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 company has various advantages when compared to Trust or Society like improved recognition and better legal standing. Section 8 company also has higher credibility amongst donors, Government departments and other stakeholders.
● Procedure For Registration -
1. To select not more than six names in the order of their preference, for obtaining availability of one of names for adoption by the proposed company.
2. To make an application to the Registrar of Companies of the State in which the registered office proposed company is to be situated for seeking name availability. The application for reservation of shall be in Form INC - 1 of the Companies (Incorporation) Rules, 2014. The procedure of making application is same mentioned as discussed earlier.
3. The Registrar of Companies to furnish the required information to the applicants, ordinarily within days of the receipt of the application.
4. A person or an association of persons (hereinafter referred to in this rule as "the proposed company"), desirous of incorporating a company with limited liability under sub-section (1) of section 8 without addition to its name of the word "Limited", or as the case may be, the words "Private Limited", shall an application in Form INC - 12 along with the fee as provided in the Companies (Registration offices fees) Rules, 2014 to the Registrar for a license under sub-section (1) of section 8. [Rule 19 of the Companies (Incorporation) Rules, 2014].
5. The memorandum of association of the proposed company shall be in Form INC - 13.
6. The application for grant of license in form INC - 12 shall be accompanied by the following documents, namely:- (a) The draft memorandum and articles of association of the proposed company; (b) the declaration in Form INC - 14, by Company Secretary in practice, that the draft memorandum and articles of association have been drawn conformity with the provisions of section 8 and rules made there under and that all the requirements the Act and the rules made there under relating to registration of the company under section matters incidental or supplemental thereto have been complied with; (c) An estimate of the future annual income and expenditure of the company for next three years, specifying the sources of the income and the objects of the expenditure; (d) The declaration by each of the persons making the application in Form INC - 15.
7. The license shall be in Form INC - 16 and the Registrar shall have power to include in the license other conditions as may be deemed necessary by him. The Registrar may direct the company to insert its memorandum, or in its articles, or partly in one and partly in the other, such conditions of the license may be specified by the Registrar in this behalf.
8. After obtaining the license, to get the memorandum and articles, as approved by the Registrar of Companies, printed and to ensure that the conditions of the license as directed by the Registrar of Companies incorporated therein.
9. Filing of Forms and Documents with Registrar.
10. Registration and Filing Fee.
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