Company Registration India
The present business structures
available in India
are proprietorship concerns, partnership firms and Limited company. Compare to other structures, limited company
have many advantages including shareholders limited
liability for business debts and obligations, perpetual succession and may
more. Company Registration in India is regulated by Companies Act. Office of Registrar of Companies (ROC) in
each State, register companies on filing of incorporation documents subject to
company law.
Basic
Requirements
Minimum requirements for registering a
private limited company are two promoters/first shareholders, two directors
having DIN (Director Identification Number), digital signature for one of the
promoter & director. In case of public company, seven promoters/first
shareholders, three directors having DIN are the minimum requirements. Minimum
capital for a private limited company is INR 100000 and public company is INR
500000. Any proposed director does not
have a DIN, before filing registration documents, an application for obtaining
DIN shall be filed with Ministry of Corporate Affairs.
Name
Availability
Company registration in India
starts with filing of an application for name availability. The chosen name for
a company should be unique across India . Usually in a day or two,
concerned ROC approves name if the applied name is not similar to the name of
an existing company and the proposed name is in accordance with the Name Availability
Guidelines issued by the Ministry of Corporate Affairs (MCA).
Company
Registration
Once the name is approved, Memorandum
of Association (MOA) and Articles of Association (AOA) are drafted. On
finalizing the MOA and AOA, these documents shall be subscribed/executed (by
own hand and signature) by promoters/first shareholders for filing with ROC
electronically. Along with these documents, Form 32 (details of directors) and
Form 18 (address of registered office) are also filed. ROC of the respective State
will scrutinize the incorporation documents and if the document found in order,
the Company will be registered. Upon registration of the company, ROC will
issue the Certificate of Incorporation and the company is ready for commercial
operation. If the company is a public company, Certificate of Commencement of
Business is to be obtained before commencing any commercial activity in the
company.
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