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156 BUSINESS  STUDIES it and submit, an application to the (vi)  Preparation of necessary registrar of companies of the state documents: The promoter takes in which the registered office of the up steps to prepare certain legal documents,whichhavetobesubmitted company is to be situated, for its approval. The proposed name may under the law, to the Registrar of the be approved if it is not considered Companies for getting the company undesirable. It may happen that registered. These documents are another company exists with the MemorandumofAssociation,Articlesof Association and Consent of Directors. same name or a very similar name or the preferred name is misleading, say, to suggest that the company is in Documents Required to be a particular business when it is not Submitted true. In such cases the proposed name A. Memorandum of Association: is not accepted but some alternate Memorandum of Association is name may be approved. Therefore, the most important document three names, in order of their priority as it defines the objectives of the are given in the application to the Registrar of Companies. (Proforma company. No company can legally undertake activities that are not INC1 is given at the end of the Book). contained in its Memorandum of (iv) Fixing up Signatories to the Association. As per section 2(56) Memorandum of Association: of The Companies Act, 2013 Promoters have to decide about the members who will be signing the “memorandum” means the memorandum of association of Memorandum of Association of the a company as originally framed proposed company. Usually the people or as altered from time to time signing memorandum are also the in pursuance of any previous first Directors of the Company. Their company law or of this Act. The written consent to act as Directors and Memorandum of Association to take up the qualification shares in contains different clauses, which the company is necessary. are given as follows: (v) Appointment of professionals: (i) The name clause: This clause Certain professionals such as contains the name of the company mercantile bankers, auditors etc., are with which the company will be known, appointed by the promoters to assist which has already been approved by them in the preparation of necessary the Registrar of Companies. documents which are required to be (ii) Registered office clause: This with the Registrar of Companies. The clause contains the name of the state, names and addresses of shareholders in which the registered office of the and the number of shares allotted to company is proposed to be situated. each is submitted to the Registrar in aThe exact address of the registered statement called return of allotment. office is not required at this stage Reprint 2026-27