Formation of a company with charitable objects under companies act 2013 easy



Posted on 22-03-2016        By ADMIN



 #Formation of a company with charitable objects under companies act 2013 easy  

Formation of a company with charitable objects An OPC with charitable objects may be incorporated in accordance with the provisions of the 2013 Act. New objects like  environment protection, education, research, social welfare etc., have been added to the existing object for which a charitable company could be incorporated.

 As against the existing provisions under which a company‚Äôs licence could be revoked, the 2013 Act provides that the licence can be revoked not only where the company contravenes any of the requirements of the section but also where the affairs of the company are conducted fraudulently or in a manner violative of the objects of the company or prejudicial to public interest. The 2013 Act thus provides for more stringent provisions for companies incorporated with charitable objects[section 8 of 2013 Act].




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