New company

For a private limited company these conditions must be followed:

Minimum Authorized and Paid up Capital of 1 Lac
Minimum Numbers of Directors Two
Minimum number of shareholders are two
Maximum 50 excluding current and past employees of company
Use the word Private Limited in its name
Prohibited to take public deposits unless allowed under the relevant law
Must keep one board meeting in each quarter
Must keep one Annual general meeting of shareholder within six months of year ending
Must carry out audit of accounts of the company
Must file balance sheet and annual return on yearly basis

Some of the steps to form the Company comprises of the following:

Public Limited Company

A foreign company must fulfill the following conditions to form a public limited company in India.

Minimum Authorized and Paid up Capital of 5 Lac
Minimum Numbers of Directors Three
Minimum number of shareholders are Seven
Use the word Limited in its name
Prohibited to take public deposits unless allowed under the relevant law
Must keep one board meeting in each quarter
Must keep one Annual general meeting of shareholder within six months of year ending
Must carry out audit of accounts of the company
Must file balance sheet and annual return on yearly basis

Essential steps for the formation of the company include the following:

Obtaining Directors Identification Number
Obtaining Digital Signature of Director
Applying for the names of the Company
Drafting of MOA, AOA and other documents required for formation
Payment of the required government fees
Obtaining Original Certificate of Incorporation
Preparation and filling of prospectus or statement in lieu of prospectus along with required forms
Obtaining certificate of commencement of business