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Three partners of a Chennai firm converted their business into a company and incorporated it. A partner asks which authority administers company incorporation and keeps the public record of companies under the Ministry of Corporate Affairs. Which is correct?

The Registrar of Companies, working under the Ministry of Corporate Affairs, registers companies and maintains their public records. Registrars of Firms deal with partnership firms at state level, while IRDAI and CCI have no role in incorporating companies.

  1. AThe Registrar of Companies, functioning under the Ministry of Corporate Affairs, registers companies and maintains their recordsCorrect
  2. BThe Registrar of Firms, which is a central body under SEBI
  3. CThe Insurance Regulatory and Development Authority, which registers companies
  4. DThe Competition Commission of India, which issues certificates of incorporation

Explanation

The Registrar of Companies, working under the Ministry of Corporate Affairs, handles incorporation and keeps the registered records of companies. The Registrar of Firms is a state-level authority for partnership firms and is not under SEBI. IRDAI and CCI do not incorporate companies.

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