Statutory framework, governance structure, and regulatory compliance of Anandmayee Institute for Entrepreneurship Development & Research.
Anandmayee Institute for Entrepreneurship Development & Research (AIEDR) is incorporated as a not-for-profit company under Section 8 of the Companies Act, 2013. The Institute is established for charitable and public-purpose objectives in the fields of education, research, entrepreneurship development, and institutional capacity building.
AIEDR operates strictly within the statutory framework governing Section 8 companies and adheres to all applicable provisions of the Companies Act, 2013, the rules made thereunder, and related regulatory guidelines.
Section 8 of the Companies Act, 2013 provides for the incorporation of companies with charitable objectives and prohibits distribution of profits to members.
Section 8(1) of the Companies Act, 2013 states:
“Where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be registered under this Act as a limited company has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object, intends to apply its profits, if any, or other income in promoting its objects and intends to prohibit the payment of any dividend to its members, the Central Government may, by licence, allow that person or association of persons to be registered as a company under this section.”
AIEDR does not distribute any profits, surplus, or dividends to its members or directors. All income, grants, donations, and receipts are fully applied towards furthering the Institute’s educational and research objectives.
Section 8(1)(b) of the Companies Act, 2013 provides:
“…intends to apply its profits, if any, or other income in promoting its objects and intends to prohibit the payment of any dividend to its members…”
Any alteration to the Memorandum of Association or Articles of Association of AIEDR is carried out strictly in accordance with statutory requirements and only with the necessary approvals.
Section 8(4)(i) of the Companies Act, 2013 states:
“A company registered under this section shall not alter the provisions of its memorandum or articles except with the prior approval of the Central Government.”
AIEDR is governed by its Board of Directors in accordance with the Companies Act, 2013. The Board is responsible for ensuring statutory compliance, financial prudence, academic integrity, and alignment with the Institute’s charitable objectives.
Section 8 companies are subject to strict penalties in the event of non-compliance or misuse of status.
Section 8(11) of the Companies Act, 2013 provides:
“If a company makes any default in complying with any of the requirements laid down in this section, the company shall be punishable with fine which shall not be less than ten lakh rupees but which may extend to one crore rupees and the directors and officers of the company who are in default shall be punishable with imprisonment for a term which may extend to three years or with fine or with both.”
In line with good governance practices and public accountability, AIEDR maintains transparency through public disclosures relating to its legal status, governance framework, and institutional objectives.
This page is part of AIEDR’s commitment to responsible public self-disclosure and compliance with applicable regulatory and academic norms.