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The objective of these companies is facilitating the growth of trade and commerce and india.
Section 8 companies examples. In a company which is limited by guarantee there are no s hares and hence there are no shareholders. The new act has however prescribed more objectives that section 8 companies can have. 1 st clause which contain name of the section 25 or 8 company example xyz foundation or xyz association etc.
Advantages of section 8 company. Famous examples of section 8 companies include federation of indian chambers of commerce and industry ficci and confederation of indian industries cii. Infosys foundation reliance foundation tata foundation reliance research institute are some of the examples of sec 8 companies registered under the act.
Section 25 company is the old name of section 8 company. Following is the list of advantages of the section 8 companies over trust and societies. The importance of an appropriate name increases in case of a non profitable organization ngo or a charitable organization formed under section 8 of the company act 2013.
Procedure for drafting moa of section 8 company start from. Examples of section 8 companies are the federation of indian chambers of commerce and industry ficci and confederation of indian industries cii. Section 8 company registration.
It is called section 8 company because the provisions relating to registration of this type of company is mentioned in section 8 of the companies act 2013. Section 8 company earlier section 25 company of the companies act 1956 is a legal entity for non government or non profit organizations. The government grants these companies an exclusive license under section 8 company.
Second clause state to mention state in which registered office of the proposed section 8 company will be situated example nct of delhi for delhi or state of haryana for haryana. The main purpose of section 8 company is mainly for the social welfare of the society. One person company opc cannot be incorporated as a section 8 company as per the provisions of the act.
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