Company form a particular get together of concerned people in an effort to operate the business of same interest. Company can also be referred to as the collection of people to perform some corporate functions. In order to operate their business in a smooth manner, it is necessary to follow certain terms and conditions that are suggested under the Companies act of 1956. There are distinct modes of company such as public company, private company, sole proprietors, partnership mode and several more to carry out an authentic business. In these modes, a private limited company is considered as the most demandable as well as highly favorable types which are often considered by Indian entrepreneurs. The eventual fact is that, in order to legitimately perform the business, private limited company registration is a mandatory tool that would bring you with all success throughout the various stages of your corporate life.
Process of Private Limited Company Registration
The private limited firms in every economic field are registered under regulations of companies act. The private limited firms of foreign corporations are as well as registered under this act, with certain additional formalities with RBI. It is advisable to approach an experienced and well-established law firm that offer responsible rigorous, economical and perfect legal services to all these sorts of private limited companies throughout the country. The requirements for private limited company registration are that it should have a minimum two shareholders and a paid-up capital of at least INR 100, 000 during the time of its integration. The registration process of private limited company begins with forwarding a minimum of 4 proposed names for the firm, to the ROC in the state of union territory, where the main business is to be operated or the main registered office of the firm is to be established.
The approved name of the company by the respective ROC is valid for a maximum duration of 6 months. Before this period exceeds, the MOA (memorandum of association) and the AOA (articles of association) should be filed with ROC, along with different other ancillary and requisite documents. It is better to seek the well-rounded support of a punctilious and experienced company lawyers and attorneys for making and drafting of the necessary documents to file with the ROC. Normally, the course of time ranging from 2 to 3 weeks is passed in the complete process of registering private limited company.
The first applicant information or the documents required include color photo, pan card, identity proof, and address proof of the corresponding residence, mobile number, and educational qualification, place of birth, email ID and digital signature application. The same documents are also needed for second applicant.
Searching for the Availability of Company Name
The promoters need to offer a minimum of six names in the order of their priority/preference. The promoters themselves can search for the available names by making a visit at the website. It is also suggested to check for any already existing trademarks registered with the name of the company being proposed, as ROC typically scrutinizes the same and might reject the proposed names on that regards. Drafting of MOA and AOA is the mandatory step followed by filling out e-forms with the registrar of companies. After making payment of ROC fees as well as stamp duty, verification of forms and documents will be done by ROC. Then the certificate will be issued upon incorporation by ROC.