LLC Articles Of Incorporation for India

LLC Articles Of Incorporation Template for India

The LLC Articles of Incorporation is a fundamental legal document required under Indian company law that establishes the constitution of a limited liability company. Governed by the Companies Act, 2013, this document outlines the company's basic structure, operational framework, and governance mechanisms. It sets forth crucial details including the company's name, registered office, objects, share capital structure, management provisions, and rules governing internal affairs. The document serves as a contract between the company and its shareholders, as well as among the shareholders themselves, establishing their rights, duties, and responsibilities within the framework of Indian corporate law.

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What is a LLC Articles Of Incorporation?

The LLC Articles of Incorporation is a mandatory document required when establishing a limited liability company in India. It must be filed with the Registrar of Companies as part of the company incorporation process under the Companies Act, 2013. This document serves as the company's constitutional document, defining its purpose, structure, and internal regulations. It includes essential information such as the company's objectives, share capital details, management structure, and procedural requirements for corporate actions. The Articles become binding upon registration and govern the relationship between the company, its shareholders, and directors. Any company seeking to incorporate in India must carefully draft these Articles to ensure compliance with local laws while meeting their specific business needs and objectives.

What sections should be included in a LLC Articles Of Incorporation?

1. Name and Registered Office: States the approved name of the company and the complete address of its registered office

2. Objects of the Company: Details the main objects and ancillary objects for which the company is established

3. Liability of Members: Clearly states that the liability of members is limited to their shareholding

4. Share Capital: Specifies the authorized share capital of the company and types of shares

5. Directors and Management: Establishes the initial directors and basic management structure

6. General Meetings: Rules for conducting shareholders' meetings, voting rights, and procedures

7. Board Meetings: Procedures for conducting board meetings and decision-making processes

8. Share Transfer and Transmission: Rules governing the transfer and transmission of shares

9. Dividends and Reserves: Provisions regarding declaration of dividends and maintenance of reserves

10. Accounts and Audit: Requirements for maintaining accounts and conducting audits

What sections are optional to include in a LLC Articles Of Incorporation?

1. Different Classes of Shares: Include when the company plans to issue different classes of shares with varying rights

2. Pre-emptive Rights: Include when existing shareholders should have first right to purchase new share issues

3. Tag-Along Rights: Include when minority shareholders should have the right to join in the sale of shares by majority shareholders

4. Drag-Along Rights: Include when majority shareholders should have the right to force minority shareholders to join in the sale of shares

5. Corporate Social Responsibility: Include when company meets criteria requiring CSR activities under Companies Act

6. Electronic Communications: Include specific provisions for conducting meetings and communications electronically

7. Foreign Investment Provisions: Include when foreign investment is expected or planned

What schedules should be included in a LLC Articles Of Incorporation?

1. Subscriber Information: Details of initial subscribers including their shareholding and contact information

2. Initial Directors: List of first directors with their DIN, address and other required details

3. Share Capital Structure: Detailed breakdown of share classes and rights if multiple share classes exist

4. Forms and Declarations: Standard forms for share transfers, proxy appointments, and other corporate actions

5. Adoption Certificate: Certificate confirming adoption of the Articles by subscribers

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use

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