Practical Tips for Formation of a Company

Sreejesh V K (ICMA Final Student) (147 Points)

22 February 2010  

FORMATION OF COMPNY

 

FORMALITIES WITH REGISTRAR OF COMPANIES

 

 

 

 

1.     Selection of type of company

 

2.     Selection of name of proposed Company

 

3.     Apply for Directors Identification Number and Digital Signature

 

4.     Apply for availability of Name

 

5.     Drafting of Memorandum and Articles of Association

 

6.     Filing of Documents With Registrar of Companies

 

     7. Documents & Forms Required at the time of Incorporation

 

 

 

 

 

 

 

 

I. SELECTION OF TYPE OF COMPANY

 

 

Type of Company

Minimum no. of promoters required.

Minimum Authorized Capital

Private Company

2

1 Lakh

Public Company

7

5 Lakhs

 

 

II. SELECTION OF NAME OF PROPOSED COMPANY

 

Select a Name for the Company, admissible to every members and accomplish the requirements of Law.

 

USE OF KEY WORDS IN NAMES & CAPITAL OF PROPOSED COMPANIES

 

 

 

Sl

No.

Keywords

Minimum Authorized Capital Required

1

Corporation

5 Crore

2

International, Global, Continental, Inter-Continental, Asiatic, Asia,etc. being the first word of the name

1 Crore

3

If any words at (2) alone is used within the name (with or without brackets)

50 Lakhs

4

Hindustan, India, Bharath being the first word of the name

50 Lakhs

5

If any words at (4) alone is used within the name (with or without brackets)

5 Lakhs

6

Industries, Udyog

1 Crore

7

Enterprise, Products, Business, Manufacturing

10 Lakhs

 

 

 

III.Apply for Directors Identification Number and   Digital signature

   

DETAILS REQUIRED for din application:                                                                                       

 

1.     Recent passport size photo

2.     photo copies of  the “Proof of Identity” and “Proof of Residence” duly attested by a Chartered Accountant.

Proof of Identity (any one of the following)

a)     PAN Card

b)    Driving License

c)     Passport

d)    Voter ID Card

e)     Any Other Document

 

          Proof of Residence (Any one of the following)

a)     Driving License

b)    Passport

c)     Voter ID Card

d)    Telephone Bill

e)     Ration Card

f)      Electricity Bill

g)     Bank Statement

h)     Any Other Document

Process in DIN Application

a)     Enter Information in E-form Form DIN-1 under Rule 3(1)

b)    Take a print out of same after getting Provisional DIN number

c)     Attach required documents, sign on the application by applicant and post it to MCA DIN Cell

 

DETAILS REQUIRED for DIGITAL SIGNATURE

               The same details as above are required in this case also but, proof should be attested by the Applicant itself. Registration of digital signature should be done with the website of MCA DIN Cell.

IV. APPLY FOR THE AVAILABILITY OF NAME

 

DETAILS REQUIRED:

               PAN Card, DIN Number and Passport

               The Applicant should fill Form 1A with their digital signature.

 

V. Drafting of Memorandum and Articles of Association

 

 

V.FILING OF E- FORM 1

          Submission of Memorandum and Article of Association.

VII. Documents & Forms Required at the time of Incorporation

 

1.     Form 1      :   Registration of Company

2.     Form 18    :   Details of Registered Office of Company

3.     Form 29    :   Consent as a Director

4.     Form 32    :   Appointment of a Director

5.     AOA         :   Articles of Association

6.     MOA        :   Memorandum of Association

 

VIII. Documents & Forms Required AFTER Incorporation

 

 

 

 

Form Name

Event for which form is required to submit 

Due date of filing

Whether fixed rate of additional fee is required as per Table 1b

FORM 18

Registred office Change Notice

With in 30 Days of event

Y

FORM 29

Consent to act as Director

With in 30 Days of event

Y

FORM 32

Changes In Director /Manager

With in 30 Days of eveny

Y

FORM 5

Increase in Share Capital /Members

With in 30 days of event

Y

FORM 23

Registration of Resoultation / Agreement

Witn in 30 days of event

Y

SCHEDLE V

Annual Return

Within 60 Days of AGM

Y

SCHEDLE VI

Balance Sheet and Profit & Loss Account

Within 30 Days of AGM

Y

FORM 8

Creation / Modification of Charges

Within 30 days of event

Y

FORM 13

Register of Charges

N.A

N

FORM 17

Memorandum & Complete Statisfication of Charges

Within 30 Daya of event

Y

SHEDULE IV

Satement in Lieu of Prospectus

 

Y

FORM 7C

TIme extension of Share Transfer

NA

N

FORM 21

Notice of Court / CLB Order

 

NA

 

 

 

 

FORM 2

Return of Allotment

Within 30 days of event

Y

FORM 7B

Share Transfer form

NA

N

FORM U/S 43A

Conversion of Public to Private application

 

N

FORM 22

Statutory Report of a Public Comapny

Within 30 days of event

Y

FORM 55

Charge Created by a foreign company

With in 30 days of event

Y

FORM 3

Particular of Contract  Relating to Share alloted for considration on than cash

With in 30 days from event

Y

FORM 10

Particulars of Series of Debentures

With in 30 days from event

Y

FORM 20 A

Commencement of New Business Declaration of Compliance

With in 30 days from event

Y

FORM 23AA

Address at which Books of Accounts of Company are maintained

With in 30 days from event

Y

FORM 1AA

Director/Person responsible under section 5(f/g)

With in 30 days from event

Y

FORM 1AB

Consent of the Person under section  5(f/g) of charged by the Board with responsibility

With in 30 days from event

Y

FORM 1AC

Withdrawl of Consent by Person / Director  under section 5(f/g)

With in 30 days from event

Y

FORM 15

Notice of Appointment of / Appointment of reveiver/Manager

With in 30 days from event

Y