(This article elucidates the process of registration/incorporation of a private/public limited company under companies’ amendment act 2015.The article also envisages some of the important requirements/common licenses to do business in India ) Where to register a company? As per Rule-12 of Companies (Incorporation) Rules, 2014, application for incorporation of a private limited or a public…
The key differences between a Private Limited Company and a Public Limited company are tabled below. Particulars Public Limited Company Private Limited Company Minimum Number of share holders A Public limited company requires minimum 7 share- holders. A Private Limited Company requires minimum 2 share- holders. Maximum Number of Share Holders There is no limit…
When a Public Limited or a Private Limited Company is to be incorporated, the promoters of the company must decide on the amount of authorized capital for the company. The Authorised Capital of a company means the maximum value of shares a company can allot to its shareholders. The promoters of the proposed company shall…
The Memorandum of Association pronounces the main object and the business activities of the company. The Articles of Association spells the rules and regulations for operations of the company. Process of approval of draft MOA & AOA by MCA: The MOA and AOA shall bear page numbers on all their pages. The photographs of the…
The Ministry of Corporate Affairs (MCA) has introduced Form INC-29, for registration and obtaining the certificate of incorporation that lessens paperwork to a large extent. This 8 pages new form is used as an alternate process to do away with the earlier process of filling out several forms separately for allotment of DIN, Name of the company…
The e-form INC-7 deals with incorporation of the new company (other than OPC) under prevailing customary process. Filing of form INC-7 is not required where the promoters opted for integrated application form INC-29 for registering a company. A prospective director of the proposed company shall possess Digital Signature Certificate, Director Index Number to apply for…
The Ministry of Corporate Affairs (MCA) established a Central Registration Centre (CRC) to process Applications for Reservation of Companies Names across India [25 Jan 2016]. The CRC process the application for reservation of name received by it in e-form INC-1 with the prescribed fee as provided in the companies (registration of offices and fees) Rules,2014.…
(This article elucidates on what is digital signature, different types of digital signature, digital signature certificate, who issues digital signature certificate and what is USB token) What is the digital signature? Digital signature is a digital code generated (electronic signature) to validate the authenticity and sender’s identity of an electronically transmitted document. Like physical documents are…
The Director Identity Number (DIN) is the number through which the Registrar of Companies (ROC), Ministry of Corporate Affairs (MCA), Government of India, identifies directors of companies. A director of a company is thus required to register his/her DIN to deal with the MCA. Process of obtaining DIN: The e-form DIR 3 for the purpose…
The word PAN stands for Permanent Account Number (PAN) for tax payment purposes. It is compulsory that a person who makes tax payment on his income must quote PAN under the Income Tax Act, 1961. The applicant for PAN may be Individual, HUF, Company, Firm, Association, Trust, Local authority etc. The Central Board of Direct…