UGC NET COMMERCE July 2018 Q4
- Option : C
- Explanation : Important information to be incorporated in the Memorandum of Association as specified in the Companies Act, 2013 mentioned below:
The memorandum of a company shall state—
∎ the name of the company with the last word “Limited” in the case of a public limited company, or the last words “Private Limited” in the case of a private limited company: Provided that nothing in this clause shall apply to a company registered under section 8;
∎ the State in which the registered office of the company is to be situated;
∎ the objects for which the company is proposed to be incorporated and any matter considered necessary in furtherance thereof;
∎ the liability of members of the company, whether limited or unlimited, and also state—
★ in the case of a company limited by shares, that liability of its members is limited to the amount unpaid, if any, on the shares held by them; and
★ in the case of a company limited by guarantee, the amount up to which each member undertakes to contribute—
(a) to the assets of the company in the event of its being wound-up while he is a member or within one year after he ceases to be a member, for payment of the debts and liabilities of the company or of such debts and liabilities as may have been contracted before he ceases to be a member, as the case may be; and
(b) to the costs, charges and expenses of winding-up and for adjustment of the rights of the contributories among themselves;
∎ in the case of a company having a share capital—
★ the amount of share capital with which the company is to be registered and the division thereof into shares of a fixed amount and the number of shares which the subscribers to the memorandum agree to subscribe which shall not be less than one share; and
★ the number of shares each subscriber to the memorandum intends to take, indicated opposite his name;
∎ in the case of One Person Company, the name of the person who, in the event of death of the subscriber, shall become the member of the company.
The name stated in the memorandum shall not—
∎ be identical with or resemble too nearly to the name of an existing company registered under this Act or any previous company law; or
∎ be such that its use by the company—
★ will constitute an offence under any law for the time being in force; or
★ is undesirable in the opinion of the Central Government.
