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HOW TO FORM A COMPANY IN INDIA

CA CS CIMA Prakash Somani 
on 26 January 2010

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HOW TO FORM A COMPANY IN INDIA


Steps to be taken to get incorporated a private limited company:-

·         Apply for DIN (Director Identification Number) Documents Required: Identity and Address proof and one passport size photo of the proposed directors.[information required about directors are Name, Father's Name, Date of Birth, Nationality, Present Residential address, Permanent Residential address]

·         Apply for Digital Signature Documents Required: Identity and address proof of the any one proposed director

·         Apply for the availability of the name (Suggest 3-4 name for the new company)

·         Drafting of Memorandum and Article of association

·         Pay Stamp Duty on Memorandum and Articles of Association (Now you can pay stamp duty online electronically also)

·         File the documents for Company Registration (Form 1, Form 18, Form 32, Power of attorney)

·         Get the Registration Certificate through email and speed post.

Additional Steps to be taken for formation of a 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.

Other Requirements of the private limited company:

·         There should be at least to directors of the company.

·         The two directors will be the subscriber of the memorandum and they subscribe the minimum capital.

·         Minimum capital for a private company is INR 1,00,000/-

·         Registration fee is depending upon the authorized capital of the company. It should be equal or more than the subscribed capital of the company.

·         Regarding non-resident interest in the company Foreign Exchange management Act is controlled all the issue. You can invest up to 100% depending upon the type of industry.

 




Category Corporate Law
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CA CS CIMA Prakash Somani 

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