Companies Act Section 374 — Obligations of companies registering under this Part
CHAPTER XXI
Commercial / Corporate
Summary
Every company that wants to register under this Part must first make sure that its secured creditors have either agreed to the registration or have given their no-objection to it, before the registration happens.
The company must publish a notice about its registration in a newspaper, once in English and once in a vernacular language, in the prescribed format. This notice should invite objections, and the company must address those objections properly.
The company must file an affidavit, duly notarised, from all its members or partners. This affidavit must state that, if the company gets registered under this Part, the necessary documents or papers will be submitted to the authority where the company was earlier registered, so that it can be dissolved as a partnership firm, limited liability partnership, cooperative society, society, or any other business entity, as applicable.
The company must also comply with any other conditions that may be prescribed.
Official Text
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 not arised, 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. any further act or deed.] PART II.—Winding up of unregistered companies