Companies capable of being registered section 366

1956

Company which are registered under different law were eligible to register under this part.It is also provide for registration of joint stock company.

2014

The companies which are authorized to register under this act 2014. It shall contain limited liability, partnership (LLP), partnership firm, society, cooperative society or any other business. It applies for company registration and their activities under this part. This provision regarding joint stock company has been removed.

Manner of Registration

1956

Does not prescribes detailed procedure and documentation required for registration of companies under this part.

The manner of registration of company the rules 3. Now additional documents has been prescribed under the registration process. Some of the key requirements are :

List showing details of subscriber and first directors.

Written consent or no objection certificate from all secured creditors of the applicant rule no 2.

Affidavit from all partners or members.

A statement of accounts preceding not later than 15 days from the date of seeking registration and certified by the auditor together with the audited financial statements of the previous year, wherever applicable, shall be attached with Form No. URC.1

2014

In case of LLP, notice shall be given to the concerned Registered (LLP), if any to be made by such concerned registrar of companies (LLP) to be registrar rule no.5

In case of  LLP registration into a company, the declaration shall be given by LLP and it is filed all documents which are required to be filed under LLP act attached with form No. URC.1 along rule no.5

Vesting of property on registration

1956

All property, movable and immovable shall on such company registration pass to and vest in the company as incorporated under 1956 act. As the vesting of property is under statutory provisions, no instrument of transfer is necessary therefor.

2014

All the property shall on registration vest in the company incorporated under this act but the act is silent on whether the instrument of transfer is required or not.

Power to substitute memorandum and articles

1956

A company is registered in pursuance of this part may, by special resolution, alter the form of its constitution by altering a memorandum and articles for a deed of resolution.

2014

No such provision in this act

Obligation of companies

1956

No corresponding provision.

2014

If the registrar is satisfied and decides that the applicant should be registered, he shall issue a certificate of registration in Form INC.11

Where a (LLP) has get a certificate of registration, an intimation to this effect shall be given to the concerned registrar (LLP) under which it was originally registered on with papers or required documents for its action as Limited Liability Partnership (LLP) within 15 days of such registration.

(LLP) under which it was originally registered under the concerned Registrar of Companies (LLP) to the registrar.

On registration, a declaration shall be given by LLP filed under LLP act with the registrar (LLP) and the declaration shall be attached with Form No. URC.1 along with statement of proceedings, if any, by or against the LLP which are pending in any court or any other authority.

Unregistered company

1956

The meaning of the expression “unregistered company” has been provided which shall not include :

a company registered under this act

2014

Now, unregistered company shall also include LLP, Society and Cooperative Society.