This article provide the facts for steps to be taken for the incorporation of Company beneath Company Law,2013. And also, this article provides the details of Required Documents and Fees for Company Registration in India.

Incorporation Of New Company In India – Steps To Be Followed

The Companies Act, 2013 lay down the guideline for the incorporation of both Public and Private Companies below Chapter-II of the act at the side of the [Rules] of the Companies (Incorporation) Rules, 2014. A company to be included as a Private Company need to have a minimum paid-up capital of Rs. 1, 00,000, and minimum variety of individuals required to shape a private organization is two or more individuals. For Public Company it ought to have a minimum paid-up capital of Rs. 5, 00,000 and requires at the least 7 or more members.

STEP-1 – Select Name of Person who will be a director 

Under Section-149(1) (a) of Companies Act, 2013. Select the name of directors i.e. who will be directors (At least Three Name of directors for Public Company and Two name of directors for Private limited Company) [Rule-17] (The Companies (Incorporation) Rules, 2014.

STEP-2 – Apply for Digital Signature Certificate (DSC)

Digital Signature Certificates (DSC) are the digital certificates (i.e. digital format) of bodily or paper certificates. Certificates serve as proof of identity of an character for a sure purpose. Likewise, a virtual certificate may be offered electronically to show your identification, to access data or offerings at the Internet or to sign positive documents digitally. One can get DSC registered by signing MCA-21 E-bureaucracy digitally. A certified Certifying Authority (CA) problems the virtual signature. Certifying Authority (CA) means someone who has been granted a license to difficulty a digital signature certificate. The listing of licensed CAs together with their contact information is available at the MCA portal (www.mca.gov.in). The Fees for obtaining DSC is one of a kind among all the Certifying Authority.

STEP-3 – Apply for Director Identification Number (DIN)

It is a unique identification number allotted to the prevailing director of the company or proceeding to be appointment as director of a business enterprise consistent with Section-152(3), Section-153 & Section-154 of the Companies Act, 2013. It is simplest after the DIN is approved, the incorporation files can be filed with the Registrar Form No.-DIR-3. However, the name approval can be acquired previous to approval of DIN. It takes approximately 7 days for getting the DIN approved, supplied all proper documents are furnished. Fees to be paid for the allotment of DIN is Rs.500.

Documents to be supplied for getting DIN software are:

• Identity proof: Copy of PAN card is mandatory.
• Address evidence: Copy of passport or Voter Id or Ration card or Electricity invoice or any other deal with proof.
• Passport length photograph (latest) in smooth copy (.JPEG format).
• Current occupation.
• Email address of applicant.
• Education qualification and contact number of applicant.
• Verification to be signed via the applicant.

STEP-4 – Filing the Proposed Name of Company For Approval to The Registrar of Companies (ROC)

According to Section-4(4) of The Companies Act, 2013 individual could make an utility to advise the name of the corporation to be registered with such bureaucracy and manner followed by means of charges of Rs. 1,000/- to be paid, as can be prescribed, to the Registrar for the reservation of a name set out inside the application.

According to Rule No.-9 of Companies (Incorporation) Rules, 2014 reservation of the name can be made by an software for the reservation of a name will be made in Form No. INC.1 together with the price as provided within the Companies (Registration workplaces and costs) Rules, 2014 to the Registrar of Companies (ROC) within the State/Union Territory wherein the corporation will keep its Registered Office. According to Section-4(5) of The Companies Act, 2013 the utility submitted to the registrar could be reserved for a length of 60 days to check and verify the record and information provided in conjunction with the application.

STEP-5 – Drafting of Memorandum of Association (MoA)

The MoA is the Constitution of the Company which should contain all of the fundamental information of the Company. MoA define the connection of the Company with its shareholder. Therefore, it’s miles essential to draft the MoA very cautiously with properly incorporating Clauses carefully.

Drafting of Memorandum need to be done wherein:

• Name of the Company lasts with word “Limited” in case of a public restrained or the last words “Private Limited” in case of a personal restricted corporation.
• State wherein the registered workplace of the corporation is to be situated.
• Object of the enterprise for which it is proposed.
• Liabilities of the participants of the organisation Limited/Unlimited.
• Mention the amount of share capital in case of organisation having a share capital.
• In case of the One Person Company the name of the individual that within the event of loss of life of the subscriber shall grow to be the member of the organization.

According to Section-4(6) of The Companies Act, 2013 MoA shall be in respective form as prescribed in Table A, B, C, D and E of Schedule-I as may be applicable.

STEP-6 – Drafting of Articles of Association (AoA)

AoA that’s an important report explains the operation of the agency, motive for which Company is incorporated in conjunction with the information for the manner of Appointment of Directors and also management of the monetary Record of the company.

In drafting of the AoA of business enterprise it shall comprise-

• Regulation for control of the Company.
• It shall also comprise such, depend as can be prescribed.
• May comprise the provisions for entrenchment to the effect that detailed provision of the Article may be altered most effective if situation or procedures as which are greater restrictive than those applicable in the case of a unique decision are met or compiled with.

According to Section-5(6) of The Companies Act, 2013 the Article (AoA) shall be in respective form supplied in Table F, G, H, I and J of Schedule-I as may be applicable to such employer.

[Rule-10] -Where the articles include the provisions for entrenchment, the organisation shall provide note to the Registrar of such provisions in Form No.INC.2 or Form No.INC.7, because the case may be, at the side of the charge as furnished inside the Companies (Registration offices and fees) Rules, 2014 on the time of incorporation of the enterprise or in case of present companies, the equal will be filed in Form No.MGT.14 inside thirty days from the date of entrenchment of the articles, as the case may be, at the side of the fee as supplied within the Companies (Registration workplaces and fees) Rules, 2014.

STEP-7 – Application for Incorporation of Company

According to Section-7 of The Companies Act, 2013 will be filed with the registrar inside whose jurisdiction the registered office of a employer is proposed to be situated. [Rule No.-12] of Companies (Incorporation) Rules, 2014- An application shall be filed, with the Registrar inside whose jurisdiction the registered office of the agency is proposed to be situated, in Form No.INC.2 for One Person Company and Form no. INC.7 (aside from One Person Company) along with the fee as provided within the Companies (Registration workplaces and fees) Rules, 2014 for company registration.

By an employer having an authorized percentage capital of:

Memorandum of Association (MOA) filing fee (in case of agency not having share capital)

Fee for filing Articles of association (in case of organization having share capital)

Fee for filing Articles of association (in case of organisation not having share capital)-

Fee applicable – Rupees 200 in line with document

Fee for submitting Form INC-7 (in case of incorporation having share capital)-

Fee for filing Form INC-7 (in case of company now not having share capital)

Fee applicable – Rupees 200 consistent with document

File with Registrar Form No. INC.7 [Rule 12 to 18] along with required Documents –

(a) The Memorandum and Articles of the organisation duly signed via all subscribers;

(b) A assertion in Form No.INC.8 by using an Advocate or Practicing professional Company Secretaries (CA, CS, CA) who is engaged in incorporation, and someone named in director as Director, Manager or Company Secretary, that every one necessities related to incorporation has been complied with;

(c) An affidavit in Form No. INC.9 from each subscriber and from each person named as first director within the articles that; he isn’t always convicted if any offence in connection with promotion, formation or control of any company, he isn’t always been discovered guilty of any fraud or misfeasance or of any breach of obligation to any employer throughout preceding 5 years, and all the files filed with the Registrar include correct, complete and true information to the high-quality of his know-how and belief;

(d) The deal with for correspondence until its registered workplace is established;

(e) The particulars of each subscriber along with proof of identification. List of poof required Listed under [Rule-16.];

(f) The Particulars of first administrators in conjunction with proof of identity and his interest in other firms or our bodies company along together with his consent to act as director;

(g) The particulars of pastimes of first directors in other corporations or bodies corporate at the side of their consent to act as administrators of the employer shall be filed in Form No.DIR.12 together with the rate of Rs.500/- as provided in the Companies (Registration places of work and fees) Rules, 2014.

STEP-8 – Commencement of Business

With respect to Section 11 of the Companies Act, 2013. – Company having a share capital shall now not begin any commercial enterprise or exercise any borrowing strength unless- Director should record Declaration with Registrar in Form No. INC.21 [Rule 24] in such a way as can be prescribed, with the Registrar that each subscriber to the memorandum has paid the cost of the stocks agreed to be taken by him and the paid up capital is not less than five Lakh Rupees in case of Public limited Company and now not much less than One Lakh in case of Private limited Company.

According to [Rule-24] the statement filed via a director will be in Form No.INC.21 along side the charge as Nominal Share Capital Fee applicable-

and the contents of the form shall be verified with the aid of a Company Secretary in exercise or a Chartered Accountant or a Cost Accountant in practice: Provided that inside the case of a enterprise requiring company registration from secretarial regulators which includes Reserve Bank of India, Securities and Exchange Board of India etc., the approval from such regulator shall be required.

STEP-9 – Registered Office

Section-12 of the Companies Act, 2013 that the company on and from the 15 days of its incorporation and at all times thereafter, have a registered office able to receiving and acknowledging all communications and notices as can be addressed to it and corporation shall provide to the registrar verification of its registered workplace inside a period of 30 days of its incorporation in such way as can be prescribed.

[Rule-25]The verification of the registered workplace shall be filed in Form No.INC.22 along side the fee.

Nominal Share Capital Fee applicable-

• Less than 1,00,000 -Rs.200-
• 1,00,000 to 4,99,999-Rs.300-
• 5,00,000 to 24,99,999 -Rs.400-
• 25,00,000 to 99,99,999-Rs.500-
• 1,00,00,000 or more -Rs.600-

This is the simple requirement which should be fulfilled for incorporation of latest Company in India Under new Companies Act,2013.

We “Solubilis Corporate Services” are the registered Patent attorney, Company Secretary and Trademark Attorney in Chennai, Coimbatore, Bangalore, Hyderabad, Cochin, Salem, Madurai, Trichy, Tirupur and Karur. We have the team of well-experienced members to do your Company registration in Madurai, Coimbatore, Chennai, Bangalore, Hyderabad, Cochin, Salem, Trichy, Tirupur and Karur. For more details, kindly go through our website and contact us. Our experts are just one call away from you. Thanks for reading!!!