CORPORATE TRANSACTIONS AND CONVERSIONS

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..... e promoters only remain personally liable for it. * Contacts made after incorporation but before obtaining the certificate to commence business - provisional contracts are not binding on Company until the company is entitled to commence business on the grant of the Certificate. * Contracts made after obtaining the Certificate of Commencement - contracts which are intra vires or within the powe .....

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..... nies Act, 1956. 5. By amalgamation under Sections 391, 392, 393, and 394 of Companies Act, 1956. Conversion of inter-State co-operative societies to become Producer Companies - Section 581J Section 149(1) - A company having a Share Capital has issued a Prospectus inviting public to subscribe to shares it cannot commence any business or exercise any borrowing powers unless * Fully paid share .....

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