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Company Formation Services

Company Formation Services
Company Formation Services
Service Code : 13
Company Formation Services

Formation of Company in India

  • Overview
  • Procedure and documents required for setup a company in India.
Overview
Companies are governed in India by Companies Act, 1956. Every company is required to get register themselves with the Registrar of Companies in India (ROC) and file the necessary documents for various statutory requirements.

Types of companies: There are normally two types of Companies. One is Private Limited Company and the other is Public Limited Company which are limited by liability and the shareholders are liable upto the unpaid value of their shares holdings.

Private Limited Company - maximum numbers of members are 50 and prohibit any invitation to the public to subscribe any shares or debenture, restrict the right to transfer its shares.

Public Limited Company - Invite public to subscribe shares or debentures and any number of members or other than private limited companies.

Procedure and documents required for setup a company in India

Procedure to be adopted for formation of private limited company
  • Apply for the Director Identification No. (DIN) by the proposed Directors.
  • Obtain digital signature by at least one proposed director.
  • Application to be made to the concerned ROC to ascertain the availability of name in Form 1 A along with a fee of Rs. 500/-. If proposed name is not available (as not already registered with the ROC) apply for a fresh name on the same application.
  • Drafting of the Memorandum and Articles of Association, after getting the name approval by ROC and printing of the same.
  • Stamping of the Memorandum and Articles with the appropriate stamp duty.
  • Get the Memorandum and Articles signed by at least two subscribers in his own hand, his father's name, occupation, address and the number of shares subscribed for and witnessed by at least one person.
Get the following forms duly filled up and signed
  • Declaration of compliance - Form-1
  • Notice of situation of registered office of the company - Form-18.
  • Particulars of Director, Manager or Secretary - Form-32.
Present the following documents with ROC with filing fee and registration fee
  • Declaration of compliance - Form-1
  • Form-1, 18 & 32 in duplicate. Name availability letter issued by ROC.
  • Power of Attorney from the subscribers in favour of any person for making corrections on their behalf in the documents and papers filed for registration.
  • Obtain Certificate of Incorporation from ROC.
Additional procedure to be followed for formation of Public Limited Company
  • Consent of Directors to act as such in Form No.29.
  • Arrange for payment of application and allotment money by Directors on shares taken or agreed to be taken.
  • File the statement in lieu of prospectus with ROC in schedule-iv of the Companies Act.
  • File a declaration in Form-20 duly signed by one of the Director.
  • Obtain the Certificate of Commencement of Business.
Further procedure to be followed for formation of Private Limited Company
  • At least two directors are required to form a company.
  • Minimum capital for a private company is Rs. 1,00,000.
  • Registration fee is payable by demand draft which is according to the size of the authorized capital of the company.
  • Non-resident interest in the company is governed by the Foreign Exchange Management Act according to it an Non Resident can invest up to 100% which again based upon the type of industry.
Commencement of a Business Operations in India
After getting incorporation certificate from Registrar of Companies (Procedure as mentioned above) and other formalities, if any the Company can start its business operations.


RSMG & COMPANY
NO-R-23, LGF-5, NEHRU ENCLAVE, KALKAJI, NEAR PUNJAB NATIONAL BANK,New Delhi - 110019, India
Mr. Rohit Singhal (Partner)
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