HOW TO SETUP A COMPANY IN INDIA

A Company is a legal entity which is formed by registration with the Ministry of Corporate Affairs. The process is not complicated though time taking.

To begin with we have to decide, in order of preference, at least one suitable name upto a maximum of six names, the names should be indicative of the main objects of the company. One must ensure that the name does not resemble the name of any other already registered company and also does not violate the provisions of emblems and names (Prevention of Improper Use Act, 1950) by availing the services of checking name availability ValBz.

Then you have to apply to the concerned RoC (Registrar of Companies) to ascertain the availability of name in eForm1A by logging in to the portal. A fee of Rs. 500/- has to be paid alongside and the digital signature of the applicant proposing the company has to be attached in the form. If proposed name is not available, the user has apply for a fresh name on the same application. After the name approval the applicant can apply for registration of the new company by filing the required forms (that is Form 1, 18 and 32) within 60 days of name approval.

A Company is has certain pre- decided rules of its own, which are made legal by entering them in MoA and AoA. Easy way of doing this is to arrange for the drafting of the memorandum and articles of association by the professionals(CA/CS). These documents have to be stamped with the appropriate stamp duty and signed by at least two subscribers in his/her own hand, his/her father’s name, occupation, address and the number of shares subscribed for and witnessed by at least one person.

Declaration of compliance – Form-1

Notice of situation of registered office of the company – Form-18.

Particulars of the Director’s, Manager or Secretary – Form-32.

Submit the following eForms after attaching the digital signature, pay the requisite filing and registration fees and send the physical copy of Memorandum and Article of Association to the RoC

After processing of the Form is complete and Corporate Identity is generated obtain Certificate of Incorporation from RoC.

In case you want to form a public limited, you have to do the following additional steps.

Obtaining Commencement of Business Certificate after incorporation of the company the public company has to make following compliance

File a declaration in eForm 20 and attach the statement in lieu of the prospectus (schedule III) OR

File a declaration in eForm 19 and attach the prospectus (Schedule II) to it.

Finally you will obtain the Certificate of Commencement of Business.

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