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Sec 374 Companies Act 2013: Obligations of companies registering under this Part

SECTION-374 (Obligations of companies registering under this Part) under CHAPTER-XXI (PART I.— Companies Authorised to Register under this Act) of the Companies Act, 2013

Every company which is seeking registration under this Part shall,—
(a) ensure that secured creditors of the company, prior to its registration under this Part, have either consented to or have given their no objection to company's registration under this Part;

(b) publish in a newspaper, advertisement one in English and one in vernacular language in such form as may be prescribed giving notice about registration under this Part, seeking objections and address them suitably;

(c) file an affidavit, duly notarised, from all the members or partners to provide that in the event of registration under this Part, necessary documents or papers shall be submitted to the registering or other authority with which the company was earlier registered, for its dissolution as partnership firm, limited liability partnership, cooperative society, society or any other business entity, as the case may be.

(d) comply with such other conditions as may be prescribed.

Extra Notes for Readers

(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013)

(2) Section 374 of the Companies Act 2013 was notified by MCA Notification S.O. 902(E) dated 26th March 2014 (w.e.f. 1st April 2014)

(3) Relevant rules of the Companies (Authorised to Registered) Rules, 2014 (w.e.f. 1st April 2014)
  • Rule 4 - Obligation of companies seeking registration to make publication
  • Rule 5 - Other obligations of companies seeking registration
[Application by a company for registration under section 366 - Form URC-1]
Note: Please check MCA site for any further amendments to the Companies (Authorised to Registered) Rules, 2014.

This page was last updated on 29th May, 2017.

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