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Question
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| a) Minimum 7 members | 1. Persons who conceive the idea of setting up a company |
| b) DIN | 2. Public company |
| c) Preliminary contracts | 3. Promoters |
| d) Fiduciary duties towards the company | 4. Eight Digit alphanumeric number |
| e) CIN | 5. Private company |
| 6. Unique number assigned to each Director | |
| 7. ROC | |
| 8. 21 digit alphanumeric code number | |
| 9. One Person Company | |
| 10. Contracts entered by Promoters with third parties |
Solution
| Group ‘A’ | Group ‘B’ |
| a) Minimum 7 members | Public company |
| b) DIN | Unique number assigned to each Director |
| c) Preliminary contracts | Contracts entered by Promoters with third parties |
| d) Fiduciary duties towards the company | Promoters |
| e) CIN | 21 digit alphanumeric code number |
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State whether the following statement is True or False.
ROC issues CIN only to certain companies.
State whether the following statement is True or False.
All companies need Certificate of Incorporation.
Study the following case/situation and express your opinion.
Mr. Ram, Mr. Sam, and Mr. Tom who are partners have come together to convert their business into a company. They have finalized all the details about the business they want to do, capital needed, etc. However, they do not know how to proceed with the legal formalities. Hence they appoint Mr. Shah who is a Practicing Company Secretary to help them prepare documents needed for incorporating the proposed company.
- Can Mr. Ram, Mr. Sam, and Mr. Tom convert their partnership firm into a company?
- Name 2 most important documents needed to incorporate a company.
- Will Mr. Shah be considered as a Promoter of the Company? Why?
Study the following case/situation and express your opinion.
| Sagar company limited got its Certificate of Incorporation on 1st Sept. 2018. The application for Incorporation was submitted on 16th Aug. 2018. There were 10 promoters who took the steps to incorporate the company. |
- State the date on which Sagar company limited came into existence legally.
- On which date will the company get its Corporate Identity Number?
- How many minimum promoters are needed for incorporating a public company?
