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Company Formation & Incorportion |
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PROCESS OF INCORPORATION OF PRIVATE LIMITED COMPANY |
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STAGE I: |
- Directors Identification Number (DIN) & Digital Signatures Certificates (DSC)
- Directors Identification Number ('DIN') is the unique number required for appointment as a director in a company. The applicant needs to apply with the address and identity proof. The application need to be certified by the qualified Chartered Accountant/ Company Secretary;
- For Private Limited minimum number of directors required is 2 (TWO)
- The process of company incorporation is now online and company is incorporated through MCA21 of the Ministry of Company Affairs. For signing the documents, DSC is required. Any one proposed director may apply for DSC;
- Estimated Time Involved: - Seven Working Days after receiving all the required documents
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STAGE II: |
- Name Approval of the Company
- After DIN and DSC, name of the company can be applied. The name should contain the proposed name and the activity of the company. Generally three proposed names need to be files;
- For Private Limited minimum number of directors required is 2 (TWO)
- Application for name approval shall be filed in FORM A1 and shall be digitally signed by the proposed director and by a qualified chartered accountant
- Estimated Time Involved: - one week [after receiving DIN/DSC];
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STAGE III: |
- Drafting of Legal Documents/Incorporation of Company
- The third step includes the following process
- Drafting of Memorandum and Articles of Association; The Memorandum contains the main objects and other objects of the company. The Article of the company contains the by-laws of the company. These two documents are the basic documents of the company.
- Printing of Memorandum and Articles of Association and getting it stamped; the Stamp duty depends on the paid up capital of the company
- Filing of Various forms : Form 18/ Form 32/ Form 1
- Preparation of documents (like Power of Attorney etc) prescribed under the Companies Act for incorporation of a company; and
- Getting the documents pre-scrutinized
- Filing of documents with the ROC
- Liaising with the ROC and
- Obtaining Certificate of Incorporation
- Estimated Time Involved: The time taken by Registrar of Companies in giving the approval varies from 7-10days usually
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