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Pvt. Ltd. Co.

Naina (CA Student) (477 Points)

26 April 2009

What is the procedure of floating a Pvt. Ltd. Co.?

Pls guide me about the whole procedure.

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15 Replies

NAVEEN NARANG (COMPANY SECRETARY) (71 Points)
Replied 26 April 2009

Following is the procedure and documents / information required for incorporation of a company with Indian promoters: 1) Apply for Digital Signatures (DSC) for at least one of the applicant (proposed director) and two in case of a public company. Documents Required for DSC are a) One Photograph b) Copy of Photo ID which may be any of the following: i) PAN Card ii) Passport iii) Voter ID iv) Driving License c) In case of only PAN Card, copy of Residence Proof may be any of the following: i) Bank Statement ii) Electricity Bill iii) Telephone Bill (Documents mentioned in point c) should not be more than 2 months old) 2) Apply for Director Identification Number (DIN) for all the proposed Directors. Documents Required for DIN are a) One Photograph b) Copy of Photo ID which may be any of the following: i) PAN Card ii) Passport iii) Voter ID iv) Driving License c) In case of only PAN Card, copy of Residence Proof may be any of the following: i) Bank Statement ii) Electricity Bill iii) Telephone Bill (Documents mentioned in point c) should not be more than 2 months old) 3) Filing of Form 1A i.e application for availability of name. 4) After getting the name approved, printing of MOA and AOA. 5) Stamping of MOA and AOA from the Concerned Government Department. 6) Preparing Incorporation Documents viz. Form 1, 18, 32 & Power of Attorney. Getting the documents signed from the subscribers. 7) Filing of Documents with RoC. 8) Deposit of fees with Bank. 9) After the fee is credited, vetting of documents is done at ROC office by the Attorney holder. 10) Company is incorporated in a couple of day after the vetting and correction if any.

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Naina (CA Student) (477 Points)
Replied 26 April 2009

Thanks CS Naveen

What is the minimum capital requirement for both Public Co. and Pvt Co.? WHat is the fee for the capital?

Gargi Ranade (CS) (619 Points)
Replied 27 April 2009

Hi Naina!

Yes , there is Minimum Capital Requirement for private Limited Company Rs.1,00,000/- and for Public Limited Company Rs 5,00,000/- (however Proposed Companies Act ,2008 which is not yet approved has provision regarding abolition of minimum Capital Requirement )

You have to pay ROC fees based on Schedule X of the Companies Act ,1956 or You can get the fees for the same through MCA site ,other Services Fee Calculator form 1 fees ;similarly you have to frank some documents like power of attorney ,form 1 ,memorandum and articles stamp duty is different for different states if you want details of stmap duty for mumbai Ican provide you information about the same .

Kamal Jain (FCA) (200 Points)
Replied 27 April 2009

Hi Naveen

Form 1, 18, 32 are supposed to be efiled, are we supposed to file hard copies also of the same with ROC.If yes are they needs to be signed by promoters though they are already signed digitally.

Further is it required to print form 1 on stamp paper?

Ajay Mishra (Company Secretary) (74332 Points)
Replied 27 April 2009

Hi All

Good efforts all of you to solve the query of NAINA.

Regards

Kamal Jain (FCA) (200 Points)
Replied 27 April 2009

Gargi/Ajay

Kindly let us have your valuable comments on following:

Form 1, 18, 32 are supposed to be efiled, are we supposed to file hard copies also of the same with ROC.If yes are they needs to be signed by promoters though they are already signed digitally.

Further is it required to print form 1 on stamp paper?

Gargi Ranade (CS) (619 Points)
Replied 27 April 2009

Hi Kamal!

as per my knowledge all these forms are required to submit physicaly and all these forms must be signed by the directors physicaly initialy and along with the soft copy you need to attached scan copy of the whole set !

It is not essential to print form 1on stamp paper you can print on normal paper and get it franked afterword.

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 27 April 2009

I would request everyone to quote relevant section/provision always for a solid answer.

Dear Naina,

Please go through the definition of Public & Private company to clear your basic concept and know more about them. Section 3(1)(iii) & section 3(1)(iv) provide for the same.

I really appreciate the efforts put by everyone.

Ajay Mishra (Company Secretary) (74332 Points)
Replied 27 April 2009

Mr. Kamal

Gargi is currectly answered your question, my dear Kamal , it is required by MCA to file Form 1 first page on non judicial stamp paper and attached these with Form 1 digitally filed with ROC, I have incorporated a new company last week and complied this.

Regards

Ajay

Senthil Nathan (Other) (32 Points)
Replied 29 April 2009

I want to know stamp duty for MoA and AoA in Chennai, Tamil Nadu. If anyone knows please help me.

You can visit my blog for a compilation of links to help you with company registration process.

https://senthilnathan.in/?p=19

Sumit Jain (CA) (4760 Points)
Replied 29 April 2009

good answer mr. ankur, gargi

Senthil Nathan (Other) (32 Points)
Replied 29 April 2009

still it is not clear. should we frank form 1 printed on normal paper or print form-1 on no-judicial stamp paper. first one is easy because printing form-1 on non-judicial paper is not an easy process but which one is recommended by mca ?