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Articles Of Incorporation For LLC

Articles Of Incorporation For LLC Template for India

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Articles Of Incorporation For LLC

"I need Articles of Incorporation for LLC for a technology startup in Bangalore, India, with provisions for foreign investment and employee stock options, planning to commence operations in March 2025."

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Document background
Articles of Incorporation for LLC serves as the constitution of a private limited company in India, required during the company formation process under the Companies Act, 2013. This document is essential when establishing a new business entity and must be prepared before company registration with the Registrar of Companies. It contains critical information about the company's internal management, share capital structure, rights and duties of members, board composition, and procedural requirements for corporate actions. The document is binding on the company and its members, and any modifications require special resolutions. Companies must ensure compliance with Indian regulatory requirements while drafting these articles, particularly regarding corporate governance, shareholder rights, and management structure.
Suggested Sections

1. Name and Registered Office: Specifies the company name, registered office address, and jurisdiction

2. Objects of the Company: Details the main objects and ancillary objects of the company's business activities

3. Liability of Members: States the limited liability nature of the members/shareholders

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

5. Directors and Management: Outlines the appointment, removal, and powers of directors

6. Meetings: Rules for conducting board meetings and general meetings

7. Share Transfer and Transmission: Procedures for transfer and transmission of shares

8. Dividends and Reserves: Rules regarding declaration and payment of dividends

9. Accounts and Audit: Provisions for maintaining accounts and conducting audits

10. Seal: Rules regarding the company seal and its use

11. Winding Up: Procedures for company dissolution and winding up

Optional Sections

1. Preferential Rights: Include when there are different classes of shares with special rights

2. Foreign Investment Provisions: Required when foreign investment is expected or company has foreign shareholders

3. Tag-Along and Drag-Along Rights: Include when shareholders want specific exit rights

4. Non-Compete and Non-Solicitation: Add when protecting business interests from shareholder competition is crucial

5. Intellectual Property Rights: Include when company has significant IP assets or specific IP arrangements

6. Committee Formation: Add when specific committees need to be established for governance

7. Employee Stock Options: Include when company plans to offer ESOP to employees

Suggested Schedules

1. Schedule I - Details of First Subscribers: List of initial shareholders with their shareholding details

2. Schedule II - First Directors: Details of first directors of the company

3. Schedule III - Share Capital Structure: Detailed breakdown of share classes and rights

4. Schedule IV - Initial Business Plan: Optional schedule containing initial business objectives and plans

5. Schedule V - Adoption of Pre-incorporation Contracts: List of contracts to be adopted by the company post incorporation

6. Appendix A - Forms of Shareholder Resolutions: Standard formats for common shareholder resolutions

7. Appendix B - Board Resolution Templates: Standard formats for common board resolutions

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Act
Annual General Meeting
Articles
Board of Directors
Board Meeting
Company
Director
Dividend
Extraordinary General Meeting
Financial Year
General Meeting
Managing Director
Member
Memorandum
Office
Ordinary Resolution
Paid-up Share Capital
Person
Register of Members
Registrar
Rules
Seal
Secretary
Securities
Share
Share Capital
Shareholder
Special Resolution
Transfer
Transmission
Whole-time Director
In Writing
Month
Proxy
Quorum
Register
Related Party
Relative
Subsidiary
Clauses
Share Capital and Variation of Rights
Lien on Shares
Calls on Shares
Share Transfer and Transmission
Share Certificates
Share Forfeiture
Share Alteration
General Meetings
Board Composition
Board Powers
Director Appointment and Removal
Director Qualification
Board Meetings
Voting Rights
Dividend Distribution
Company Seal
Corporate Records
Borrowing Powers
Capitalization
Buy-back of Shares
Audit and Accounts
Notices
Indemnity
Winding Up
Confidentiality
Dispute Resolution
Amendment of Articles
First Directors
Share Subscription
Member Rights and Obligations
Board Committees
Officer Appointments
Quorum Requirements
Proxy Rights
Reserve Funds
Common Seal Usage
Relevant Industries

Technology

Manufacturing

Retail

Professional Services

Healthcare

Financial Services

Real Estate

Education

E-commerce

Consulting

Agriculture

Entertainment

Logistics

Hospitality

Construction

Energy

Relevant Teams

Legal

Compliance

Corporate Secretarial

Finance

Executive Leadership

Risk Management

Corporate Governance

Administrative

Business Development

Relevant Roles

CEO

Company Secretary

Legal Counsel

Corporate Lawyer

Compliance Officer

Chief Financial Officer

Managing Director

Board Director

Company Founder

Business Development Manager

Corporate Governance Officer

Risk Manager

General Counsel

Finance Director

Investment Manager

Industries
Companies Act, 2013: Primary legislation governing the incorporation, structure, and management of companies in India. Contains provisions for memorandum of association, articles of association, and registration procedures.
Foreign Exchange Management Act (FEMA), 1999: Regulates foreign investment in Indian companies and relevant for LLCs with foreign stakeholders or international operations.
Companies (Incorporation) Rules, 2014: Specific rules detailing the procedure for company incorporation, including forms, documentation requirements, and compliance procedures.
Income Tax Act, 1961: Contains provisions regarding company taxation, PAN registration, and tax compliance requirements during incorporation.
Limited Liability Partnership Act, 2008: While not directly applicable to private limited companies, provides context for limited liability business structures in India.
SEBI Guidelines: Relevant if the LLC plans to raise funds or eventually go public, containing regulations on corporate governance and securities.
Goods and Services Tax (GST) Laws: Required for GST registration during company formation and ongoing compliance.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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