We Corpstore Business Solutions offers section 8 company registration for our clients in Madurai and Karur. Highly qualified professionals are here to provide you full-guidance. Section 8 Company is named Section 8 of the Companies Act, 2013 which is suitable for non-profit objective and it may be a private limited or a public limited company. It is established 'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment provided the profits, or other income is applied for promoting only the objects of the company and no surplus is paid to its members.
A Section 8 Company is more similar to a Trust or Society; expect, that it is registered under the Central Government's Ministry of Corporate Affairs. Trusts and Societies are registered under the State Government regulations. Therefore, Section 8 Company or Section 25 Company is a company registered for charitable or not-for-profit purposes. Moreover, it functions exactly like a limited company including all the rights and responsibilities that comes within a company.
However, it differs from a company in only one aspect, i.e. it cannot use “Section 8” or “Limited “in its company name. The central government provides an incorporation certificate for such companies and also informs them about some restrictions and conditions. In case they don’t fulfil them, the central government can also order them to wind up the company.