Section 25 Company Registration in Bangalore
Section 25 company registration in Bangalore is important since the objective of the Section 25 Company is to promote commerce, science, education, sport, art and social welfare. Hence it is for the non-profit purposes. We Smartauditor is in the front level to take part in the registration services and we extended our services in Ulsoor, Yelahanka, Devanahalli, Koramangala and Electronic city. The process of incorporation is similar to any company in India. Additionally it requires license from the central government under Section 25 companies Act 2013. The Section 25 Company does not require minimum paid up share capital. Hence it is very free to have any of the share capital. Many of the NGOs are registered under Section 25 Company of Companies Act, 1956. This section empowers the Central government the power to grant license and it directs that an association may be registered with limited liability. It does not need to be included in names like ‘limited’ or ‘private limited’.
Section 25 company registration in Bangalore is the most familiar registration as it raises the credibility. There are many exemptions namely, Section 25 Company does not require any minimum or maximum number of directors. Also it does not need to comply with requirements of section 1725 with respect to the constituting of committees. In the Section 25 Company, no stamp duty is required and the management is dependent on Board of Directors. The absolute owners of the property is the Company. As prescribed under the Companies Act, the Section 25 Company can wind up and it is the most preferred form when it is considered from the point of view of grant of subsidy by the government. Also it is very easy to change the board of directors, the trustee members and even the registered office. Section 25 Company registration in Bangalore is now preferred at an affordable cost by Smartauditor Consultants. It has been given the exemption from the minimum share capital and it is made possible by the insertion of the sub-section (6) through amendment act 2000.
Documents for Section 25 Company Registration
- Name and address of the promoters
- List of proposed members of the Board of the Directors
- Declaration signed by all the promoters
- A certified copy of the notice
Benefits of Section 25 Company registration
The Section 25 company registration in Bangalore has various benefits. They are
- It takes part in the non-profit activities
- It promotes the social welfare activities which are needed for the societies.
- It is made without any share capital
- The Section 25 Company has exemption from Section 259 and can increase the number of Directors.
- The Section 25 Company is permitted to hold AGM after giving notice of 14 days length instead of 21 days.