Category: Private Limited Company

The Companies (Amendment) Ordinance 2018 has reintroduced the concept of Certificate of Commencement of Business with effect from 2 November 2018. Under the new Ordinance, no company will be entitled to commence its operations or exercise any borrowing powers unless it has filed within 180 days from its Incorporation a “declaration” stating:

• That the Subscribers to the Memorandum of the company have paid the value of shares agreed to be taken;
• That the Company has filed a verification of its registered office address with the Registrar of Companies.

Continue reading “Certificate of Commencement of Business”

The process of Dematerialization of shares was introduced to convert the whole Capital Market into electronic mode. Dematerialization, in simple terms, is a process of converting physical shares into electronic mode which is maintained in an account with the Depository Participant. The Account in which the shares are maintained is termed as the Demat Account. Continue reading “What is Dematerialization of shares?”