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of <h1>Clause 8: Register Charitable Companies Without 'Limited' in Name; Government License and Approval Required; Penalties for Non-Compliance</h1> Clause 8 of the Companies Bill, 2011 outlines the formation of companies with charitable objectives. It allows individuals or associations to register as limited companies without 'Limited' in their name if they promote specified charitable objects, apply profits towards these objects, and prohibit dividend distribution. The Central Government may issue licenses for such registrations and impose conditions. Companies must seek government approval to alter their memorandum or articles and can convert to other company types under prescribed conditions. Licenses can be revoked for non-compliance or fraudulent conduct, leading to conversion, winding up, or amalgamation with similar companies. Non-compliance attracts fines and penalties, including imprisonment for responsible officers.
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