Section 374 — Obligations of companies r egistering under this Part

Every company which is seeking
registration under this Part shall,—
(a) ensure that secured creditors of the company, prior to its registration under this Part, have either
consented to or have given their no objection to company's registration under this Part;
(b) publish in a newspaper, advertisement one in English and one in vernacular language in such
form as may be prescribed giving notice about registration under this Part, seeking objections and
address them suitably;

1. The proviso ins. by Act 31 of 2016, s. 255 and the Eleventh Schedule (w.e.f. 15-11-2016).

(c) file an affidavit, duly not arised, from all the members or partners to provide that in the event
of registration under this Part, necessary documents or papers shall be submitted to the registering or
other authority with which the company was earlier reg istered, for its dissolution as partnership firm,
limited liability partnership, cooperative society, society or any other business entity, as the case may
be.
(d) comply with such other conditions as may be prescribed.
1[Provided that upon registration as a company under this Part a limited liability partnership incorporated under
the Limited Liability Partnership Act, 2008 (6 of 2009) shall be deemed to have been dissolved under that Act without
any further act or deed.]