Format of Article of Association of section 8 Company limited by SharesTHE COMPANIES ACT, 2013
[Pursuant to rule 19(2) the Companies (Incorporation) Rules, 2014]

MEMORANDUM OF ASSOCIATION

OF
XYZ FOUNDATION
(A Company limited by shares not for profit under section 8 of the Companies Act, 2013)

Also Read: Format of Article of Association of section 8 Company limited by Shares

I. The name of the company is “XYZ FOUNDATION” (Hereinafter referred to as the ‘Company’).
II. The registered office of the Company will be situated in the State of KARNATAKA.
III. The objects for which the Company is established are:-
(a) The main objects to be pursued by the Company on its incorporation are:
I. To undertake, promote, assist or engage in all kinds of research and development work required to promote heath & health care facilities, assist or engage in setting up hospitals and facilities for manufacturing medical equipment’s. Object Clause – Manually Complete
II. To  set  up  laboratories,  acquire  any  equipment  and  instruments  required  for carrying out medical research and its development.
III. To  educate  and train  medical students,  nurses,  midwives, Doctors, Para–medical Technicians, other medical professionals and hospitals’ administrators and to grant such  diplomas  or  recognitions  as  the  company  may  prescribe  or  deem  fit  from time  to  time  to  them  to  upliftment  the  heath  and  health  care  services  of  the society.
IV.  Render  charitable  services  in  medical  research  and  running  of  multi-specialty hospitals, dispensaries, clinics, laboratories and health clubs for the benefit of the society from health point of view as part of the objects of the company formed under Section 8 of Companies Act, 2013 for the purpose of promoting the welfare of the society.
V. To establish, acquire, run, aid, maintain professional learning including online and offline   courses   either   directly   or   through   an,   Vocational   Training   Institute, educational Institutions, technical institutions, universities etc.
VI. To establish, acquire, run, aid, maintain professional body or bodies or institutions or organizations for professional development and training of professionals including teachers and professors of various disciplines/streams.
VII.  To  establish,  acquire,  run,  aid,  maintain,  grants,  aids  etc.  to  boarding  house, residential   accommodation,   employment   generation   facilities/activities,   social
institutions focused for beneficiaries of the objects of the company.
IV. The objects of the Company extend to the whole of India.
V. Conditions:
(a) The  profits,  if  any,  or  other  income  and  property  of   the  company,  when  so  ever derived,  shall  be  applied,  solely  for  the  promotion  of  its  objects  as  set  forth  in  this memorandum.
(b) No  portion  of  the  profits,  other  income  or  property  aforesaid  shall  be  paid  or transferred, directly or indirectly, by way of dividend, bonus or otherwise  by way of profit, to persons who, at any time are, or have been, members of the Company or to anyone or more of them or to any persons claiming through anyone or more of them.
(c) No  remuneration  or  other  benefit  in  money  or  money’s  worth  shall  be  given  by  the Company  to  any  of  its  members,  whether  officers  or  members  of  the  Company  or  not, except payment of out-of-pocket expenses, reasonable and proper interest on money lent, or reasonable and proper rent on premises let to the Company.
(d) Nothing  in  this  Clause shall  prevent  the payment  by the  Company in  good faith  of prudent  remuneration  to  any  of  its  officers  or  servants  (not  being  members)  or  to  any other person (not being a member), in return for any services actually rendered  to the Company.
(e) Nothing  in  Clauses  (iii)  and  (iv)  shall  prevent  the  payment  by  the  Company  in  good faith of prudent Remuneration  to  any of  its  members  in return  for any services  (not  being  services  of  a kind  which are required to be rendered by a member), actually rendered to the Company.
VI. No alteration shall be made to this Memorandum of Association or to the Articles of Association of the Company which are for the time being in force. Unless the alteration has   been   previously   submitted   to   and   approved   by  the   jurisdictional   Registrar   of Companies.
VII. The liability of the members of the Company is limited.
VIII. The Authorized Share Capital of the Company is Rs. 2,00,000/- (Rupees One lakhs only only) divided into 2,000 equity shares of Rs. 100/- (Rupees hundred only) each.
IX. True  accounts  shall  be  kept  of  all  sums  of  money  received  and  expended  by  the Company and the matters in respect of which such receipts and expenditure take place, and  of  the  property,  credits  and   liabilities   of  the  Company;  and,  subject  to  any reasonable restrictions as to the time and manner of inspecting the same that may be imposed in accordance with the regulations of the Company for the time being in force, the  accounts  shall  be  open  to  the  inspection  of  the  members.  Once  at  least  in  every year,  the  accounts  of  the  Company  shall  be  examined  and  the  correctness  of  the balance-sheet and the  income and expenditure account ascertained by one or more properly qualified auditor or auditors.
X. If upon a winding up or dissolution of the Company, there remains, after the satisfaction of all the debts and liabilities, any property whatsoever, the same shall not be distributed amongst the members  of the Company but shall be given or transferred to such other company  having  objects  similar  to  the  objects  of  this  Company,  subject  to  such conditions as the Tribunal may impose, or may be sold and proceeds thereof credited to the Rehabilitation and Insolvency Fund formed under Section 269 of the Act.
XI. The  Company  can  be  amalgamated  only  with  another  company  registered  under Section 8 of the Act and having similar objects.
We, the several persons whose names, addresses, descriptions and occupations are herewith subscribed are desirous of being formed into a private limited company not for profit, in pursuance of this Article of Association
Sl.
No.
Name, Address, Description and Occupation of the Subscribers No. of Equity Shares Signatures of the Subscribers Name, Address and Occupation of the Witness to the Signatures
1.
Total Subscription
 

 

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