Posted By admin on December 25, 2013 2 Comments
BASIS OF DIFFERENCE | SECTION 25 COMPANY | SOCIETY | TRUST |
BASIC DOCUMENT | Memorandum of AssociationArticles of Association | Memorandum of AssociationArticles of Association with rules & regulations. | Trust Deed – which contains objects of the trust (bye-law) |
FORMATION | Little Hard | Simple | Easy |
JURISDICTION | Registrar of Comapnies | Registrar of Societies – (Maharastra Charity Commissioner) | Deputy Registrar / Charity Commisioner |
LEGISLATION / STATUTE | Indian Companies Act 1956 | Societies Registration Act 1860 | Relavent state Trust Act |
OBJECTS | Nonprofit Activities | Literary, Charitable, Scientific and resource oriented | Social benefits & Charitable |
MODIFICATION OF OBJECTS | ComplicatedLegal Procedures | EasyLegal Procedures | Alteration can be undertaken only by the Founder.If the founder is deceased alteration of objects is impossible |
REQUIRED MEMBERS | Minimum = 7Maximum = No limit | Minimum = 7Maximum = No limit | Minimum = 2Maximum = No limit |
REGISTRATION | As per Companies Act under Section 25 | As Society with Society Registrar | As Trust with the Registrar. |
STAMP DUTY | No Stamp paper required for Memorandum of association and articles of association. | No stamp paper required for Memorandum of association, and rules and regulations. | 4% of Trust property Value will be executed in non judicial stamp paper with the registrar |
NAME | Prior approval required from Registrar of Companies. | Very easy to choose | Very easy to choose |
MANAGEMENT BOARD | Board of Directors & Management committee | Governing Body | Trustees |
SUCCESSION IN MANAGEMENT | By Appointment | By Election | By Election |
MEETINGS | Quite Extensive as per the provision of Company Law | Annual Meeting As per Law. Governing Body meeting as per the rules of Society. | No provisions |
LEGAL STATUS | Full Legal Status | Limited Legal Status | Limited Legal Status |
STATUTORY REGULATIONS | Exhaustive | Limited | Nominal |
MEMBERSHIP TRANSFER | Free or Control as per desire. | Impossible | Impossible |
MEMBER ADMISSION | General Body or Board Control through issue of Capital. | Governing Body Control | Not applicable |
DISSOLUTION OR TAKE OVER BY STATE | Very risky and difficult | Possible | Possible |
PAYMENT TO MEMBERS | As approved by Company & State. | Not restricted | As notified in Trust deed |
In case you need any further information
Contact us at 9818092002
Email : info@companyindia.co.in
