The formation of a company is a lengthy process. For convenience the whole process of company formation may be divided into the following four stages: 1. Promotion Stage 2. Incorporation or Registration Stage 3. Capital Subscription Stage 4. Commencement of Business Stage. Stage # 1. Promotion Stage: Promotion is the first stage in the formation of a company. The term [...]
After reading this article you will learn about:- 1. Definition of Memorandum 2. Forms of Memorandum 3. Contents or Clauses 4. Importance 5. Alteration. Memorandum of Association of a Company Memorandum of Association # Definition: According to Sec. 2 (28) of the Companies Act, "Memorandum means the Memorandum of Association of a company as originally framed or as altered from [...]
This article will help you to learn about the difference between memorandum and articles of association of a company. Difference between Memorandum and Articles of Association Memorandum Difference - 1. Subject Matter: It is the charter of the company which defines its objects and powers. Difference - 2. Importance: Every company must have its own memorandum of Association. It is [...]