REQUIREMENT FOR STARTING A PRIVATE
LIMITED COMPANY:
Minimum Members:
For starting a Private
Limited Company, there should be at least a minimum of 2
members and a maximum of 200 members. The maximum number of members to 200 has
been raised to 200 from 50 in the new Companies Act, 2013. The members can be
appointed as the Directors of the Company.
Minimum Capital:
In order to register a Private
Limited Company, a minimum of Rs. 1,00,000/- authorized capital and paid up
capital has to be infused.
STEPS IN
REGISTERING YOUR PRIVATE LIMITED COMPANY:
Register a private limited Company
Incorporation of Private limited
Company
STEP 1:
APPLY FOR DSC AND DIN
DSC
stands for Digital Signature Certificate- obtain DSC for two Directors.
DIN-Director Identification Number- a unique eight digit number has to be
obtained for one time, valid for entire lifetime of the Director.
DOCUMENTS
REQUIRED FOR APPLYING DSC AND DIN:
For DSC:
PAN card copy with self attestation
– ID PROOF.
Voter id copy or Driving license
copy with Self attestation – ADDRESS PROOF.
For DIN:
PAN card copy with self attestation-
ID proof.
Voter id or driving license or
passport copy or Aadhar card copy with self attestation- Address proof.
STEP 2: NAME
RESERVATION:
Application
for Reservation of Company name- A name plays an important role in Company
incorporation process. The MCA has laid Naming guidelines for choosing proper
name for your company.
A Company has two parts in his name-
Prefix and Suffix.
Prefix which is the first part of
company name must be unique and should not be common.
Suffix contains the business part of
your Company. Suffix should reflect the business nature of your company. For
e.g. Infosys Technologies Private Limited. Here Infosys is nothing but merging
of two words- Information and Systems and suffix is Technologies, which
reflects the business of the Company.
The Registrar of Companies will not
approve any undesirable names for the company.
Form Inc-1 has to be filed for
application for reserving Company name. Once the name is approved it is valid
for up-to sixty (60) days from the date of application.
STEP 3:
SUBMITTING FINAL FORMS ALONG WITH MOA AND AOA:
After applying and obtaining name
for your company, the net step would be drafting MOA- Memorandum of Association
and AOA- Articles of Association. MOA and AOA forms the life blood of your
company. MOA contains the main business object that company is going to carry
now and in mere future, AOA contain the internal rules and regulations of the
Company.
Form INC-7 and Form DIR-3 has to be
submitted for incorporating your private limited company.
Attachments required for Form INC-7
Memorandum of Association.
Articles of Association.
Form IN-10 with notarization.
Form INC-9 printed on stamp paper
and notarized.
Form INC-8 Power of attorney given
to the Practicing Company Secretary or Chartered Accountant for signing on
Forms for your Incorporation. Should be printed on stamp paper.
PAN card copy of both the
subscribers to the MOA & AOA.
Address proof copy of both the
subscribers to the MOA & AOA.
Attachment required for Form DIR-3:
Form Dir-2- Consent to act as
Directors of the Company.
Form INC-10- Specimen signature copy
of both the Directors with Notarization.
Post
Incorporation Filing:
Once the Certificate of
Incorporation has been issued by the Registrar of Companies, the Company has to
file Form INC-21 for Registered office address proof, within 30 days from the
date of incorporation.
A Private Limited Company has to
appoint an Auditor for his company within thirty (30) days from the date of its
incorporation.
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