Formation of company :-

                                                   A company may be formed for any lawful purpose by seven or more persons, where the company to be formed is to be a public company; two or more persons, where the company to be formed is to be a private company; or one person, where the company to be formed is to be One Person Company that is to say, a private company, by subscribing their names or his name to a memorandum and complying with the requirements of this Act in respect of registration Provided that the memorandum of One Person Company shall indicate the name of the other person, with his prior written consent in the prescribed form, who shall, in the event of the subscriber’s death or his incapacity to contract become the member of the company and the written consent of such person shall also be filed with the Registrar at the time of incorporation of the One Person Company along with its memorandum and articles Company Registration Coimbatore.

Provided further that such other person may withdraw his consent in such manner as may be prescribed: Provided also that the member of One Person Company may at any time change the

name of such other person by giving notice in such manner as may be prescribed Company Registration Coimbatore.

                Provided also that it shall be the duty of the member of One Person Company to intimate the company the change, if any, in the name of the other person nominated by him by indicating in the memorandum or otherwise within such time and in such manner as may be prescribed, and the company shall intimate the Registrar any such change within such time and in such manner as may be prescribed Company Registration Coimbatore.

                  Where the proposal is to undertake the business of banking, it can be carried on without registration as a company if the number of persons joining together for the business is not more than ten. If there are more than ten persons who together intend to do banking business, they cannot do so unless they form company and register it under the Act Company Registration Coimbatore.

                     The mandatory need for registration as a company arises only when an association of more than twenty persons intends to vary on some business other than banking with the object of acquisition of gain.  Acquisition of gain or the intention to earn profit is the important criterion Company Registration Coimbatore. 

                   When an association was formed with the object of acquiring land and division thereof amongst the members, such an association was formed with the object of acquiring land and division thereof amongst the members, such an association was held outside the ambit of the statutory provision Company Registration Coimbatore.