Private Limited Company Registration Procedure

Procedures start with the Name Reservation. After that Application for MOA and AOA will be filed under Spice Forms 32, 33 and 34. A company gets registered after the approval of such Spice Forms.

As on from 15th May 2015, a new system for the Incorporation of a Private Limited Company has been introduced. A separate online portal has been created, for registering the documents, for the incorporation of a company. All the forms now can be submitted online; this is part of the Green Initiative by the MCA (Ministry of Corporate Affairs).

Following are the Steps to Register Private Limited Company:-

 Step 1. Digital Signature Certificate(DSC) Required

The first and foremost step to start the registration process is to have directors & shareholders Digital Signature Certificate. Digital Signature are nothing but a USB drive(DSC token) which contains the encrypted digital signature of a person.

It is same as a person is signing with a pen on a paper and with digital signature, a person can sign a document on Computer.

 Step 2. Directors Identification Number(DIN)

Directors Identification Number(DIN) are mandatory for every person, who wishes to become a director in any company. PAN card is mandatory to have a DIN number. Director Identification Number is a unique code which has lifetime validity.

Documents required for DIN Application

  • PAN Card
  • Addhar Card
  • Electricity Bill
  • Phone bill
  • Mobile Bill
  • Bank Statement

There can be Maximum 15 Directors in a Private Limited Company which can be received by giving Notice to ROC

 Step 3. Name Reservation

After having DIN number. Name Reservation Application can be filed through Form INC-1 and Name will be reserved by the DIN numbers of the Directors. Following points should be considered while making the application for Name Reservation.

  • The name should not be similar to any existing company or LLP name.
  • The name should not be similar to any Registered Intellectual Property.
  • In the event of winding-up of a company, the name of such entity will not be available for use for the next 2 years. However, if company winds up by the court order, then the name of such entity will not be available for use for the next 20 years.

 Step 4. Drafting of  Memorandum of Association(MOA) and Article of Association(AOA)

Memorandum of Association: It is the constitution of a company. It is a document, which among other things, defines the areas within which the company can act. It states the objects for which the company has been formed.

Articles of Association: It contains the rules and regulations relating to the internal management of a company. It serves as a binding contract between the company and its members.
Once the company name is approved by the ROC, the subsequent step is to draft the MoA and AoA. The subscribers need to determine their name, address, and occupation in their own particular handwriting and sign the subscription pages of MoA and AoA.  

 Step 5. Certificate of Incorporation

After the submission and completion of all the necessary documents, the registrar of the company shall retain and register the memorandum and articles. After the registration of the Memorandum of a company, the registrar shall certify that the company is incorporated. The digitally signed "certificate of incorporation" then will be emailed to the directors.  

Timeline:

On an average, incorporation of a company in India may take up to 2-3 weeks. The time taken for registration will rely upon the submission of relevant documents by the customer and speed of Government approvals. To guarantee expedient enrollment, please, pick an extraordinary name for your Company.


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