Forming a Food Industry-2

INCORPORATION

The law under which a company is incorporated in India is the Companies Act,1956, which extends to the whole of India.

1.The company becomes a legal entity from the date it is granted a certificate of incorporation, which is a one-page document.

2.The certificate of incorporation is given after the required documents are presented, along with the requisite fee, to the Registrar of Companies (at the concerned regional office where the registered office is set-up) for registration and the Registrar is satisfied that all other requirements have been complied with.

3.The documents required to be presented to the Registrar include a printed copy of the Memorandum of Association and Articles of Association (charter and bylaws) signed by each subscriber.

4.The time taken for incorporation of a company is usually one to three months after the proposed name of the company is approved by the Registrar of Companies. .

5.For such approval, a formal application has to be made because the law requires that a company will not be registered with any undesirable name or any name identical with an existing company. This formality can be done at the same time as the memorandum and articles of association are drafted, and can be completed within a month.

Source-Food Processing Industries in India,1995-96