Companies must also have their directors (or managers if they have no directors) registered under the Companies Code. Other corporate registrars can be asked to do this for their clients as well. Companies that are under the control of the Registrar of Companies are also entitled to issue shares for the benefit of the shareholders. However, these shares have to be registered under the Companies Code. The Registrar of Companies can also request the registered office to issue shares for the benefit of the directors of the company.
Company Registration in Chennai
Under the Companies Management Act, the Registrar of Companies is also responsible for the general management and control of the business and can appoint the manager of the company. The Companies Management Act gives the Registrar of Companies the right to appoint the officers of the company. The directors of the company are elected for a fixed term of five years. However, if the company fails to pay its debt, the registrar has the power to dissolve the company and appoint new directors.
The Registrar of Companies is not liable to pay the fees to the officers or directors of the company. The Registrar of Companies must be consulted before anything is registered under the Companies Code.