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Question
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?
Solution
- Sagar Company Limited is legally established on September 1st, 2018.
- Sagar Company Limited will receive its Corporate Identity Number on September 1st, 2018. (CIN).
- A minimum of seven promoters are required to form a public company.
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