Presentation corporate (silk textile manufacturing company)
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The promoters of Silk Textile Manufacturing Company went through the promotion and incorporation stages to establish the new company. In the promotion stage, they decided on the company name and structure. In the incorporation stage, they submitted documents like the Memorandum of Association and Articles of Association to the registrar and received a Certificate of Incorporation. After issuing a prospectus and fulfilling subscription requirements, they received a Certificate of Commencement allowing the company to begin operations.
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Indus Motor Company was established in 1989 as a joint venture between House of Habib of Pakistan, Toyota Motor Corporation, and Toyota Tsusho Corporation of Japan. It manufactures and markets Toyota and Daihatsu vehicles in Pakistan. The company has sold over 500,000 vehicles and produces over 1,000 vehicles daily at its 100 acre facility in Karachi. Indus Motor Company invests heavily in training its workforce of over 20,000 employees and has received high employee satisfaction scores. It has played a major role in developing the local automotive industry supply chain and contributing to the economy.
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The promoters of Silk Textile Manufacturing Company went through the promotion and incorporation stages to establish the new company. In the promotion stage, they decided on the company name and structure. In the incorporation stage, they submitted documents like the Memorandum of Association and Articles of Association to the registrar and received a Certificate of Incorporation. After issuing a prospectus and fulfilling subscription requirements, they received a Certificate of Commencement allowing the company to begin operations.
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Presentation corporate (silk textile manufacturing company)
- 3. PROMOTION STAGE The idea of the company was introduced by the promoters. First, the preliminary investigation and assembling of resources was made. Then, preliminary expenses were estimated. “Silk Textile Manufacturing” was decided as the name of the company. It was decided that it’ll be manufacturing public company. After this, promoters started the preparation of essential documents for the formation of company.
- 4. INCORPORATION STAGE Registration form was filled by the promoters of the company and submitted to the registrar along with the registration fee. Memorandum of Association, Articles of Association, List of Directors and their written consent, Declaration of qualifying shares, prospectus and Statutory Declaration was submitted to the registrar.
- 5. CONTENTS • NAME CLAUSE: The name of company is Textile Manufacturing Company. • HEAD OFFICE: The head office of the company is situated in Lahore. • CAPITAL CLAUSE: The total capital of the firm is 50,000(10rs.each share) • LIABBILITY CLAUSE: The liability of member is limited. • OBJECTIVE CLAUSE: The type of the business is manufacturing company and it is public company. • ASSOCIATION CLAUSE: All the promoters agreed to work for the better prospects.
- 6. ARTICLES OF ASSOCIATION CONTENTS • Total capital is 50,00,000 (divided into 10rs per share). • Shares are transferable. • External auditors will be hired for the audit of accounts. • Profit will be distributed according to the value of shares purchased by the each shareholder. • There is no limit on the maximum number of directors. • All members will work for the common seal of the company. • Meetings will be held by sending notice to all the directors. • Voting power is assigned to each director of the company. • Shares can be converted into stock. • Voting power is assigned to all the directors. • Sale of shares will be made by issuing prospectus.
- 7. PROSPECTUS CONTENTS • The object of the company is textile manufacturing. • It is public company. • Head office is located in Lahore (27 B block, Johar Town LHR). • The liability of the members is unlimited. • Shares will be sold at its par value. • Dividends will be paid according to the value of shares purchased. • Business contracts will be made by consent of all the directors. • Shares of the company are transferable. • Commission to the underwriters will be paid. • Estimated preliminary expenses are 120,00000. • Chartered Accountants will be hired for the audit of accounts. • Remuneration will be paid.
- 8. VERIFICATION After the verification by the registrar, of the submitted information. He issued Certificate of Incorporation.
- 9. CERTIFICATE OF COMMENCEMENT After getting the Certificate of Incorporation, promoters issued the prospectus of the company to the general public. After filling the requirement of minimum subscription and allotment of shares, Certificate of Commencement was issued. Now the company was formed and ready to start its business.