Friday, July 15, 2011

ROC TO ISSUE DIRECT LICENCES TO NOT- FOR-PROFIT FIRMS (SECTION 25 OF COMPANIES ACT)

The power to issue licence under Section 25 has been delegated to Registrar of Companies (ROC). It will reduce the time taken in incorporation of Section 25 companies (Not-for-Profit companies). The 30-day mandatory notice period before incorporating such a company has also been done away with.

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