How to Register a Company – Company Registration in Madurai

How to register a company in India

With the increasing growth in the economy, the country’s industrial sector has undergone significant changes. Entrepreneurs want to start their own companies to contribute to growth. For this to happen, company registration is required.In India, any adult who has attained the age of 18 years can apply for company registration. The Companies Act 2013 [1] does not specify any age criteria for company registration. It states that a company registration of at least 2 directors (one Person Company) is required. This requires the application of a Director Identification Number (DIN) for each director. And the minimum age for obtaining DIN is 18 years. Here, we discuss about the topic on How to Register a Company – Company Registration in Madurai. Here a clear note about this topic below.

Documents for the Company registration

Documents for India residents

Proof of Nationality: PAN card

Identity Proof: Passport, Voting card, driving license

Residence Proof: Electricity bill, Bank statement and Mobile bill

Documents for the foreign nationals

Proof of nationality: PAN card

Identity proof: Passport

Residence proof: Electricity bill, Bank statement and driving license

Documents for the NRI

Proof of nationality: PAN card

Identity proof: Passport

Residence proof: Electricity bill, Bank statement and driving license

Documents for registered office address

Electricity bill

Gas bill

Water bill

Post-paid telephone or mobile bill

(Premises owner’s NOC will be required along with utility bill).

Procedure

Step 1: Create an account on MCA Portal – New User Registration

• To start the process, you must create an account on the MCA portal. This can be done on
• Absolutely no cost. To register the properietor on the MCA portal, click on this company registration.

Step 2: Obtain Director Identification Number (DIN)

• According to the Amendment Act 2006, every director is required to have a DIN. To obtain DIN, a
• Require to file form DIN-1.
• The DIN-1 form is available on the official site of the Ministry of Corporate Affairs. Link
• Is here (DIN-1 is an interactive PDF form with the submit option). One after filling the DIN-1 form
• The filled form should be uploaded on the MCA website by clicking the Form Upload button and
• Applicable fees should be paid.
• After obtaining the DIN, the director needs to inform his company registration using the DIN-2 form.
• The company should inform the Registrar of Companies of Companies (ROC) about the DIN of all the directors.
• By DIN-3 form.
• If there is any change in DIN or any updating address, personal details etc. are required
• The Director should be informed of this change by submitting the Form DIN-4 form.

Step 3: Obtain Digital Signature Certificate (DSC)

• Anyone can get his / her digital signature certificates from government-listed agencies
• Apply for Class II DSC or higher as per MCA requirements.

Step 4: Apply for company registration

This is the final step of company registration in Madurai.

• This includes naming your company,
• Address of office fees, notification of office status and company registration of notice for appointment
• Director, Manager and Secretary of the Company. It also addresses their take and payments

Post-incorporation formalities:

1. Get tons of cards

2. Get a permanent account number (PAN)

3. If necessary, obtain shops and establishment act registration.

4. If necessary, apply for an Import Export Code from the Director General of Foreign Trade.

5. If required: RBI approval and FIPB approval for foreign companies investing in India.

Benefits of company registration in India

Limited liability

The first and foremost advantage of doing business by a company is the limited liability given to the company’s directors and shareholders. As a sole proprietorship or partnership business, the personal property of the proprietor or partners may be at risk in the event of a business failure, but this is not the case for the company registration in Madurai. Tragic events such as business failure are not always under the control of the entrepreneur; It is therefore important to protect the personal property of the businessman in case of emergency.

Unlike ownership and partnership, if a company becomes insolvent and injured, only the company’s assets are used to clear its debts. The director or shareholders of the company have no personal responsibilities and have not gone bankrupt and are free to do business.

Legal entity / status or recognition

A private limited company is a legal entity, a fair person established under the law. Its existence is different from that of its director and members. Private limited company status enables you to take it more seriously than ownership / partnership status. Working as a private limited company gives suppliers and customers a sense of confidence in the business. Larger organizations in particular would prefer to deal with private limited companies rather than ownership / partnership organizations. Easy to attract quality workforce and achieve strategic motivation of employees using flexible and wide range of management positions

Permanent succession

Another important feature of a company is perpetual succession. It is a popular saying that director members can come and go but members can come and go, but the company survives forever. Once involved the company survives in compliance with the provisions of the law until it is wound up. The death, disability or retirement of any of its members does not affect its continuity, regardless of the change in the company’s membership. A private limited company has no obligation to start a business / business within any specified period after its inception.

Easy transfer

Wherever it is proposed to sell the business as an existing concern, it is necessary to transfer the entire shareholding to the buyer and thus facilitate a smooth change in management and ownership. This will save the promoters time and money. A large amount of stamp duty has been saved.

Dual relationship

It is possible for a company to enter into a valid effective agreement with any of its shareholders / directors in the form of a company association. It is also possible for an individual to be in control of the company registration in madurai and at the same time be employed. Thus, a person can be a shareholder, a director, a creditor and an employee of a company at the same time.

E.g.

A) He can get remuneration as a director.

B) As a shareholder it can receive dividends.

C) As a tenant he can get the lease rent.

D) As a creditor he can give money and earn interest.

E) As a supplier he can supply goods from his / her family business.