Company incorporation
This query is : Resolved
04 April 2011
Sir i have got the name approved of a private limited company,can you tell me further procedure and also i need sample MoA and AoA for the company.The object is tours and travels and car rental services.Please send it to me at manthan_toxic@yahoo.com
04 April 2011
March 2008 1
Company incorporation in India
In India, company can be incorporated either as a Private Limited or Public
Limited. The incorporation procedure all over India is same. First one has to get
the name approval of the proposed company from Registrar of Companies
(ROC). After name approval, along with the application for incorporation, the
Memorandum and Articles of Association in addition to other necessary
prescribed documents has to be submitted with the ROC.
The Memorandum of Association stipulates the constitution and objects of the
company. The Articles of Association contains the rules and regulations of the
company for the management of its affairs. After examining the documents the
ROC issues a Certificate of Incorporation. Thereafter a private company
becomes entitled to commence its business and a public company after obtaining
the certificate of commencement of business from ROC.
Since year 2007 ROC have introduced a new system of e-filing, under which all
forms are to be submitted online and the original documents in person.
The procedure for incorporating a company in India is as under
1. Obtain Director Identification Number (DIN) and Digital Signature
Certificates (DSC) for each Director / Promoter before making any
application to ROC.
2. Apply for the name availability of the proposed company to ROC. For this
one has to fill Form 1A and submit online along with requisite fee with
ROC.
3. Once Name is approved and made available by the ROC it remains valid
for 6 months. If you do not incorporate the proposed company within 6
months you can renew the name by paying prescribed fee.
4. After getting the name following documents are prepared
1. Memorandum of Association
2. Articles of Association
3. Letter of authority to a person for carrying out corrections
4. Declaration by the Promoter Directors
5. Form 32 for the Directors
6. Form 18 for registered office address
7. Demand Draft in favour of Registrar of companies for the
prescribed amount towards registration fee.
March 2008 2
5. Memorandum and Articles of Association are to be duly stamped before
filing with ROC
6. All the above documents are also filed in original with ROC,
7. On the receipt of the documents ROC will scrutinize the papers and if any
modification is required he will direct to make such changes accordingly.
8. Once ROC is satisfied and scrutiny is completed he will issue certificate of
Incorporation. The company would come into existence from the date of
certificate of incorporation.
Following Chart would make it clearer
Minimum Shareholders required = 2 Minimum Shareholders required = 7
Minimum Directors required =2 Minimum Directors required = 3
Minimum Paid up Capital - INR 100,000 Minimum Paid up Capital INR 500,000
Some Important things to know about companies in India
1. Any person whether Indian or Foreigner can be the Director in Indian
Company.
2. Any Individual/Company whether Indian or Foreigner can be the
Shareholder in Indian Company, however foreigner would be required to
comply with foreign exchange laws in India.
3. Minimum 4 meetings of Board of Directors are required to be held in one
year. Board meeting can be held any where in the world. It is not
necessary to hold such meetings only in India.
4. The registration fee and Stamp Duty depends upon the authorized
capital of the proposed Company.
Company incorporation in India
In India, company can be incorporated either as a Private Limited or Public
Limited. The incorporation procedure all over India is same. First one has to get
the name approval of the proposed company from Registrar of Companies
(ROC). After name approval, along with the application for incorporation, the
Memorandum and Articles of Association in addition to other necessary
prescribed documents has to be submitted with the ROC.
The Memorandum of Association stipulates the constitution and objects of the
company. The Articles of Association contains the rules and regulations of the
company for the management of its affairs. After examining the documents the
ROC issues a Certificate of Incorporation. Thereafter a private company
becomes entitled to commence its business and a public company after obtaining
the certificate of commencement of business from ROC.
Since year 2007 ROC have introduced a new system of e-filing, under which all
forms are to be submitted online and the original documents in person.
The procedure for incorporating a company in India is as under
1. Obtain Director Identification Number (DIN) and Digital Signature
Certificates (DSC) for each Director / Promoter before making any
application to ROC.
2. Apply for the name availability of the proposed company to ROC. For this
one has to fill Form 1A and submit online along with requisite fee with
ROC.
3. Once Name is approved and made available by the ROC it remains valid
for 6 months. If you do not incorporate the proposed company within 6
months you can renew the name by paying prescribed fee.
4. After getting the name following documents are prepared
1. Memorandum of Association
2. Articles of Association
3. Letter of authority to a person for carrying out corrections
4. Declaration by the Promoter Directors
5. Form 32 for the Directors
6. Form 18 for registered office address
7. Demand Draft in favour of Registrar of companies for the
prescribed amount towards registration fee.
March 2008 2
5. Memorandum and Articles of Association are to be duly stamped before
filing with ROC
6. All the above documents are also filed in original with ROC,
7. On the receipt of the documents ROC will scrutinize the papers and if any
modification is required he will direct to make such changes accordingly.
8. Once ROC is satisfied and scrutiny is completed he will issue certificate of
Incorporation. The company would come into existence from the date of
certificate of incorporation.
Following Chart would make it clearer
Minimum Shareholders required = 2 Minimum Shareholders required = 7
Minimum Directors required =2 Minimum Directors required = 3
Minimum Paid up Capital - INR 100,000 Minimum Paid up Capital INR 500,000
Some Important things to know about companies in India
1. Any person whether Indian or Foreigner can be the Director in Indian
Company.
2. Any Individual/Company whether Indian or Foreigner can be the
Shareholder in Indian Company, however foreigner would be required to
comply with foreign exchange laws in India.
3. Minimum 4 meetings of Board of Directors are required to be held in one
year. Board meeting can be held any where in the world. It is not
necessary to hold such meetings only in India.
4. The registration fee and Stamp Duty depends upon the authorized
capital of the proposed Company.
04 April 2011
Please provide me with sample MoA and AoA or atleast sample Object clause for tours and travels and car rental services.
Thanks in advance.
Thanks in advance.
04 April 2011
To carry on the business as package tour operators, daily passenger service operators, tour operators, travel agents, ship booking agents, railway ticket booking agents, airlines ticket booking agents, carrier service agents, courier service agents and also engage in the business of running of taxies, buses, mini buses, trucks and conveyances of all kinds and to transport passengers, goods, commodities, livestocks, merchandise and to do the business of transporters in and out side India.
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