The company registration process in India goes through a number of steps and only then the company is provided with a registration certificate after which the company can commence its business operation in India.

One should be the Resident of India Registered office located in India Digital Signatures are required of the shareholders as well as the Directors Director Identification number (DIN) of Directors will be created at the time of incorporation.

Before registering a company in India, the promoters should decide on the most flexible and viable business structure for them.

The article thus explain the how and why of Chit Funds, in addition to formalities required to get a Chit Fund business registered in India.

List of restricted names, emblems, flags (under the act) The name, emblem or official seal of the United Nations Organization The name, emblem or official seal of the World Health Organization The Indian National Flag The name, emblem or official seal of the Government of India or of any State, or any other insignia or coat-of-arms used by any such Government or by a Department of any such Government The emblems of the St.

DIN Number Registration Any person intending to register a Private Limited Company or Limited Company or One Person Company (OPC) in India needs to get a DIN number and becomes a part of Board of Directors.

It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference in any provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

Value Payable System also known as VVP post, is a service from India Post that collects payment for articles sent by post from the receiver.

Services not to be rendered in the capacity as Statutory Auditor The following services shall not be rendered by the Auditor directly or indirectly to the Company, or its Holding or Subsidiary Company:- Accounting and Book keeping service Internal Audit Design and Development of any financial information system Actuarial Services Investment advisory services Investment Banking Services Rendering of outsourced financial services Management Services Any other services as may be prescribed by the Government.

The financial statements issued by the company have to be in conformity with the accounting principles issued by the Institute of Chartered Accountants of India.