Form No.
INC-16
Licence under section 8 (1) of the Companies Act, 2013
[Pursuant to rule 20 the Companies (Incorporation ) Rules, 2014]
WHEREAS it has been proved to my satisfaction that
......................, a person or an association of persons to be
registered as a company under the Companies Act, 2013, for
promoting objects of the nature specified in clause (a) of sub-
section (1) of section 8 of the said Act, and that it intends to
apply its profits, if any, or other income and property in
promoting its objects and to prohibit the payment of any
dividend to its members;
NOW, THEREFORE, in exercise of the powers conferred by
section 8 of the said Act, I, the Registrar at ……….., hereby
grant, this licence, directing that the said person or association
or persons be registered as a company with limited liability
without the addition of the word “Limited”, or as the case may
be, the words “Private Limited” to its name, subject to the
following conditions, namely:
(1) that the said company shall in all respects be subject to
and governed by the conditions and provisions contained in
its memorandum of association;
(2) that the profits, if any or other income and property of the
said company, whensoever derived, shall be applied solely
for the promotion of the object as set forth in its
memorandum of association and that no portion thereof
shall be paid or transferred, directly or indirectly, by way
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of dividend, bonus, or otherwise by way of profit, to
persons who at any time are or have been members of the
said company or to any of them or to any person claiming
through any one or more of them;
(3) that no remuneration or other benefit in money or money’s
worth shall be given by the company to any of its mem-
bers except payment of out-of-pocket expenses,
reasonable and proper interest on money lent, or
reasonable and proper rent on premises let to the
company;
(5) that nothing in this clause shall prevent the payment by
the company in good faith of prudent remuneration to any
of its officers or servants (not being members) or to any
other person (not being member), in return for any
services actually rendered to the company;
(6) that nothing in clauses (3), (4) and (5) shall prevent the
payment by the company in good faith of prudent
remuneration to any of its members in return for any
services (not being services of a kind which are required to
be rendered by a member), actually rendered to the
company;
(7) that no alteration shall be made to the memorandum of
association or to the articles of association of the company,
which are for the time being in force, unless the alteration has
been previously submitted to and approved by the Registrar ;
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(8) The Company can be amalgamated only with another company
registered under section 8 of the Act and having similar
objects; and
(9) that, without prejudice to action under any law for the time
being in force, this licence shall be liable to be revoked, if
the company:
(a) contravenes any of the requirements of section 8 of
the Act or the rules made thereunder or any of the
conditions subject to which a licence is issued;
(b) if the affairs of the company are conducted
fraudulently or in a manner violative of the objects of
the company or prejudicial to public interest.
………………………………..
Registrar
Dated this......................... day of......................20...………
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