When a company is registered and a Certificate of Incorporation is issued by the Registrar, it shall have the following effects :
- The company shall become s Separate Legal Entity from the date mentioned on the Certificate of Incorporation, which is considered as date of birth of the company.
- The Company acquires Perpetual Succession. The members may come, members may go, but it goes for ever.
- The company becomes the owner of its property and the Promoters of Shareholders have the right to share in the profits of the company.
- The company can sue and can be sued in its own name.