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Yogita Ingle 5 years, 11 months ago
The stages of formation of a company are as follows-
1. Promotion is the first stage in the formation of a company. It involves conceiving a business idea and taking an initiative to form a company so that practical shape can be given to exploiting the available business opportunity. The promoter is said to be the one who undertakes to form a company about a given project and to set it going and who takes the necessary steps to accomplish that purpose.
Steps in Promotion
i. Approval of the company's name is taken from the Registrar of
Companies
ii. Signatories to the Memorandum of Association are fixed
iii. Certain professionals are appropriated to assist the promoters
iv. Documents necessary for registration are prepared
Necessary Documents
a. Memorandum of Association
b. Articles of Association
c. Consent of proposed directors
d. The agreement, if any, with proposed managing or whole-time director
e. Statutory declaration
2. After completing the aforesaid formalities, an application is made by promoters to the Registrar of Companies along with necessary documents and registration fee. The Registrar, then scrutiny the documents and issue certificate of incorporation. The certificate of incorporation is conclusive evidence of the legal existence of the company.
3. Capital Subscription A public company can raise the required funds from the public using the issue of securities (shares and debentures etc.). For doing the same, it needs to take the following steps for fundraising:
(i) SEBI approval;
(ii) File a copy of the prospectus with the Registrar of Companies;
(iii) Appointment of brokers, bankers and underwriters etc.
(iv) Ensure that minimum subscription is received;
(v) Application for listing of company’s securities;
(vi) Refund/adjust excess application money received;
(vii) Issue allotment letters to successful applicants; and
(viii) File return of allotment with the Registrar of Companies (ROC).
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Yogita Ingle 5 years, 11 months ago
Town Planning: The discovery of the Sumerian city of Ur has shed light on the lives of the early Mesopotamians. The Mesopotamian cities fell short in terms of town planning as compared to the Harappan centres but followed a uniform pattern nevertheless. The city was divided into three parts - the sacred area, the walled city on a mound and the outer town. The sacred area consisted of the temple tower or the ziggurat dedicated to the patron god of the city. There were also smaller temples of other gods. This area also had the storehouse as well as the offices. People resided in the walled city and the outer town areas. Houses were constructed along the streets, and each house had a central courtyard with rooms attached around it.
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