Formation of a Company | One Shot | Chapter 7 | Class 11
Rajat Arora・2 minutes read
Chapter 7 discusses the formation of a company through legal formalities and procedures, covering types of companies and stages like promotion, incorporation, and subscription. Key documents like Memorandum of Organization and Articles of Association are crucial for registering the company and outlining internal rules, with SEBI approval needed for public companies to raise funds for investor protection and disclosure.
Insights
The formation of a company involves crucial steps such as promotion, incorporation, and subscription, with promoters playing a key role in identifying business opportunities, conducting feasibility studies, and obtaining necessary approvals for the company name.
Essential documents like the Memorandum of Association, Articles of Association, and Consent of Directors are required during the formation process, emphasizing the importance of adhering to these documents to ensure proper management and compliance within the company.