CONVERSION OF SOCIETY INTO SECTION 8 COMPANY
As per Section 366 of Companies Act, 2013 any cooperative society, a society registered under the Society Act 1860 can be converted into Section 8 Company.
Procedure and documents required for Conversion
Provisions of Conversion of registered Society into Section 8 Company governed by Chapter XXI The Companies (Authorized to Registered), rules, 2014 along with Companies Act, 2013
Procedure for Conversion of Society into Section 8 Company
- Society means a society registered under the Societies Registration Act, 1860 (21 of 1860), and includes a society registered under or deemed to be registered under any other law for the time being in force.
- Application for conversion shall be applied in URC1 along with required Documents.
- Registered Society seeking registration under the provision of Part I of Chapter XXI shall publish an advertisement in English and vernacular language about registration under the said Part, seeking objections, if any within twenty-one clear days from the date of publication of notice and the said advertisement shall be in Form URC -2
- A copy of the notice shall be submitted to the Registrar of Societies where Society was originally registered for the objection if any.
- A copy of the notice, as published and the copy of the notice served on Registrar of Societies along with proof of service, shall be attached with Form No. URC. 1.
- Particulars of members/partners along with the details of shares held by them, if any.
2. Declaration of two or more directors verifying the particulars of all members/ partners.
3. An affidavit from all the members/partners for the dissolution of the entity.
4. Copy of the instrument constituting or regulating the entity.
5. Copy of Newspaper advertisement.
6. Certificate from a CA/CS/CWA certifying compliance with all the provisions of the Stamp Act, to the extent applicable.
7. Undertaking by the proposed directors for compliance with requirements of the Indian Stamp Act, 1899.
8. A copy of the latest Income Tax Return of the firm.
- Copy of certificate of registration of entity.
- Consent of at least 3/4th members agreeing for registration in this part.
- NOC from Concern Registrar and Secured creditors.
- Declaration from all the members regarding compliance as per section 8(1)(b) and section 8(1)(c) of the Act and detailed objects of the company.
- Statement of accounts of the existing entity prepared not later than 15 days preceding the date of application duly certified by the auditor; if applicable.