While filling the startup India form I noticed that it requires an authorized representative to sign the letter. Now me and my co-founder both are directors with equal equity split. Who should sign it?
Earlier, one of us signed and we got this error -
Authorized Representative - Please note that the Authorized Representative and the Director signing the Authorization letter (for PTC/LLP/Registered Partnership) cannot be the same. Please draft the letter accordingly. 2. Aadhar - Please attach the Aadhar card (of the Authorized Representative) with the Authorization letter as mentioned in the format. Please attach both in the same file. 3. Details Mismatch - Please include the correct name and details of the Authorized Representative in the application form as mentioned in your Authorization Letter. The details don?t match.
11 July 2024
In the context of your situation where both you and your co-founder are directors with equal equity split in your startup, and you're required to designate an Authorized Representative (AR) for signing the Startup India application form, here's how you should proceed:
1. **Choose an Authorized Representative (AR):** - The AR should be a person other than the director signing the authorization letter. - This person should be authorized to represent the startup for matters related to the Startup India initiative. They will sign the authorization letter on behalf of the startup.
2. **Who Should Sign the Authorization Letter:** - Since you mentioned that both you and your co-founder are directors with equal equity split, either one of you can sign the authorization letter designating the AR. - The person signing the authorization letter cannot be the same person as the AR. This means if you sign the authorization letter, your co-founder should be designated as the AR, or vice versa.
3. **Drafting the Authorization Letter:** - The authorization letter should clearly specify the details of the AR, including their name, designation, and contact information. - It should state that the AR is authorized to represent the startup for the purpose of applying to the Startup India initiative.
4. **Document Submission:** - Ensure that along with the authorization letter, you also submit a copy of the Aadhar card of the Authorized Representative. Both documents should be uploaded together as per the format specified.
5. **Details Matching:** - Double-check all details to ensure there are no mismatches between the information provided in the application form and the details mentioned in the authorization letter.
6. **Next Steps:** - After correcting the authorization letter with the appropriate signatory and ensuring all details match, re-submit the application form. - Once submitted, monitor the status of your application and follow any additional instructions provided by the Startup India portal or authorities.
By following these steps, you should be able to resolve the issue and successfully submit your application to the Startup India initiative. If you continue to face challenges or require further clarification, consider reaching out to Startup India support or consulting with a professional advisor for assistance.
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