Amended and updated notes on section 374 of Companies Act 2013. Detail discussion on provisions and rules related to obligations of companies registering under this Part.
Chapter XXI PART-1 (Section 366–374) of the Companies Act, 2013 (CA 2013) deals with the provisions related to companies authorised to register under this Act. Section 374 of CA 2013 provides for Obligations of companies registering under this Part.
Recently, we have discussed in detail section 373 (Suits stayed on winding up order) of CA 2013. Today, we learn the provisions of section 374 of the Companies Act 2013.
The provisions of section 374 are effective from 1st April, 2014. You may refer Notification No. S.O. 902(E) issued dated 27-03-2014. In this article, you will learn detail of the provisions of section 374 the Companies Act 2013 read with the Companies (Authorised to Registered) Rules, 2014.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXI (PART-I) |
| Chapter Name | Companies Authorised to Register under this Act |
| Section No. | 374 |
| Section Name | Obligations of companies registering under this Part |
| Monthly Updated Edition | Company Law PDF |
Section 374 of Companies Act 2013: Obligations of companies registering under this Part
Section 374 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014
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 notarised, 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.
Provided that upon registration as a company under this Part a limited liability partnership incorporated under the Limited Liability Partnership Act, 2008 shall be deemed to have been dissolved under that Act without any further act or deed.