INCORPORATION/REGISTRATION PROCESS FOR PRIVATE LIMITED COMPANY
Private limited companies are most preferred entity to kick start your business plan because private limited company provides every kinds of flexibility to carry on business.
Registration of private limited company requires only 2 persons who has limited liability to the extent of paid up share capital held by them. There are lesser compliances as compared to public limited company, therefore incorporation of Pvt. Ltd. companies is considered to be optimum business vehicle to kick start your business journey.
Starturcompany team presents you a detailed guide to incorporate your private limited companies.
To register/incorporate a Private Limited Company involves two basic and simple steps:
Step 1: Acquire and Register DSC
First, apply for Digital Signature Certificate (DSC), which is used to sign on behalf of you in E-forms. Since the filings of application are done through online, each and every director of the Company should posses DSC.
Register DSC: The DSC once issued by the certifying authority should be registered by Role check on MCA21 portal as only then the DSC can be used for online filings of Company E-forms.
Step 2: Filing of Incorporation Documents in form INC-29
Once we obtain the DSC, We have to start the process of drafting documents for incorporation.
E-Form INC-29 deals with the single application for approval of name of the company, incorporation of a new company and/or application for allotment of DIN up to 3 Directors. This e-Form is accompanied by supporting documents including details of Directors & subscribers, MOA and AOA etc.
Pay the prescribed registration fee as per Company Incorporation Rules, based on the total capital of subscribers in the proposed Company.
Once the e-Form is processed and found complete, company would be registered and CIN would be allocated. Also DINs gets issued to the proposed Directors who do not have a valid DIN.
The ROC shall issue the certificate of incorporation in Form INC-11.
Note: Registered office of the proposed Company can be filed later after the Incorporation of Company within 30 days from the Incorporation of Company.
Important Matters to be kept in mind while preparing Form INC-29
1. Proposed Name of the Company: There was an option to provide Six different names for proposed company under the existing normal procedure, out of which one would be approved.
However, under Form INC-29 only one name for proposed company can be provided. Hence, it is necessary to ensure that the name which you are proposing should be unique and should not be even partially similar to existing names which are already registered.
2. DIN upto 3 Directors: Form INC-29 provides facility for obtaining DIN for upto 3 Directors.
Hence, if you have more than 3 persons in the proposed company who do not have DIN, then we need to apply DIN for such additional Director separately by filing Form DIR-3.
3. Non-eligible Companies: Following types of Companies can be incorporated by using Form INC-29
a. Private Limited Company
b. Public Limited Company
c. Producer Company
d. One Person Company
However, till now MCA has not allowed to incorporate Section 8 Company (Non-Profit Company) by using Form INC-29.
DOCUMENTS/INFORMATION REQUIRED FOR INCORPORATION
- Signed Original Application;
- One Color Photograph of the Applicant;
- Photograph should be crossed signed on the application;
- Signed Copy of PAN attested by Gazetted officer/ Bank Manager;
- Signed Copy of Address Proof attested by Gazetted officer/ Bank Manager;
- Valid Email Address;
- Mobile Number;
- Mother’s Name -in order to register the same on MCA.
Designated Identification number (DIN)
o ID Proof- self attested copy of PAN;
- Address Proof — self attested copy of voter ID or passport or Driving License;
- One Color Passport size Photograph;
- Area of Occupation (whether Self Employed / Professional/ Homemaker/ Student/ Servicemen);
- Educational Qualification Certificate;
- Valid Email Address;
- Mobile Number.
o Memorandum and Article of Association, Subscriber Sheet signed by the subscribers to the shares;
o Affidavit by the Directors in Form No.INC-9 on Rs. 10 stamp paper duly notarized;
o Verification of Signatures of Subscribers in Form No. INC-10 on Rs. 10 Stamp paper;
o Consent to act as director of a company in Form No. DIR-2;
o Details of all the Companies whether Indian and/or foreign in which he/she is already director and also whether he/she is Proprietor/Partner in any Firm/Partnership Firm or member of BOI/AOP;
o Proof of Registered office of the Proposed address of the Company(Latest Electricity Bill/MTNL Landline Bill/Water Bill/Registry Copy signed by the owner) which should be accompanied by NOC on Rs. 10 stamp paper duly notarized signed by the owner of the premises);
o Number of the shares subscribed byeach subscriber, every subscriber shallbe required to subscribe for at least oneshare.