COMPANY REGISTRATION

Legal Meaning: "Company" means a company incorporated under the Companies Act 2013 or under any previous company law; A company is a legal entity formed by a group of individuals to engage in and operate a business commercial or industrial enterprise. A company may be organized in various ways for tax and financial liability purposes depending on the corporate law of its jurisdiction.


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wise process of Company Registration


FEATURES OF LLP REGISTRATION IN INDIA

1. Separate Legal Entity

A company has a definite legal entity which is different and independent from its members. It can hold and deal with any sort of property.

2. Limited Liability

The liability of the shareholders of the Company is restricted to the magnitude of the due amount of the shares that are held by them.

3. Continual Succession

The company is an artificial person that is established by law perpetuates to exist regardless of the differences in its membership

4. Common Seal

The Company is an artificial entity or a person, cannot sign its name by itself. Hence, every company is enforced to possess its own authentication or a seal which moves as official signatures of the Company.

5. Transferability of Shares

The shares of a public limited company (PLC) are transferable. The authorisation of the Company or the concession of any member of the Company is not required for the transfer of shares.

6. May Sue or be Sued

A company is a legal person can get into contracts and can implement the permissible authorities against others. It can accuse and be accused in its name if there is a breach of contract by the Company

Company CATEGORIES

Private Company

•Minimum paid-up capital of Rs 1.00.000/-
•Minimum 2 members and maximum 200
•Name must end in “private limited”
•Minimum two directors, and no need for independent directors
•Managerial Remuneration There are no & restrictions
•Quorum of Meetings Minimum two members, present in person
•Private companies cannot have public offers for shares
•Accepting Deposits Not allowed according to the act


Public Company

•Minimum paid-up capital of Rs 5.00.000/-
•Minimum 7 members, no max limit
•Name must end in “public limited”
•Minimum 3 directors, and if listed company one-third must be independent
•Managerial Remuneration Restricted to 11% of the Net profit of the company
•Quorum will depend on the total number of members of the company
•Public offers must be in the demat form only
•If paid capital exceeds 100 crores, or turnover exceeds 500 crores, the company can accept public deposits


One Person Company (OPC)

The concept of One person company is quite revolutionary as compare to other company.
It gives the individual entrepreneurs all the benefits of a company, which means they will get credit, bank loans, access to the market, limited liability, and legal protection available to companies. Further, the amount of compliance by a one-person company is much lesser in terms of filing returns, balance sheets, audit etc. Also, rather than the middlemen usurping profits, the one person company will have direct access to the market and the wholesale retailers. The new concept would also boost the confidence of small entrepreneurs.

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Frequently Asked Questions

Documents from directors and shareholders

A. IDENTITY PROOF
1) PERMANENT ACCOUNT NUMBER (PAN) CARD
2) AADHAAR CARD / PASSPORT / DRIVING LICENSE / VOTER IDENTITY CARD
B. ADDRESS PROOF
1) TELEPHONE BILL / MOBILE BILL
2) ELECTRICITY BILL / WATER BILL
3) BANK STATEMENT /BANK PASSBOOK WITH LATEST TRANSACTION (ANY ONE OF THE DOCUMENT NOT OLDER THAN 2 MONTHS)
C. PASSPORT SIZE PHOTOGRAPHS – 3 EACH
NOTES:
• ALL THE COPIES OF DOCUMENTS MUST BE SELF ATTESTED BY THE APPLICANT.
• TELEPHONE BILL / MOBILE BILL/ELECTRICITY BILL / BANK ACCOUNT STATEMENT MUST BE IN THE NAME OF APPLICANT AND SHOULD NOT BE OLDER THAN 2 MONTHS.
• IF THE DOCUMENTS ARE NOT IN THAN ENGLISH, IT SHOULD BE TRANSLATED TO ENGLISH.

Documents to be signed by directors

1) CONSENT TO ACT AS DIRECTOR: FORM DIR-2
2) DETAILS FOR DIN
3) DECLARATION OF DIN (IF DIN IS ALLOTTED ALREADY)

What are the documents required for filing ROC Return for the company?

The essential documents are balance sheet, profit & loss account, and audit report for filing the ROC Returns. However, in the annual return of the company information concerning shares, registered address changes of any during the financial year. We would need all ROC filing done during the fiscal year..

Documents to be signed by shareholders

1)APPLICATION FOR DIGITAL SIGNATURE CERTIFICATE (DSC)
2) DECLARATION BY SUBSCRIBERS & DIRECTOR: INC-9

Documents from company / LLP / Trademark owner, if any

1) BOARD RESOLUTION / FORMAL AUTHORISATION FOR USE OF NAME / TRADEMARK
2) AUTHORISATION FOR EXECUTION DOCUMENTS FROM COMPANY / LLP
NOTE:- THESE SHALL BE SIGNED BY THE CONCERNED ON THEIR LETTER HEAD