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G.K.Kedia & Co.

Formation In Brief


PRELIMINERY STEPS FOR INCORPORATION OF PRIVATE LIMITED COMPANY OR WOS COMPANY IN INDIA :--


1. Availability of Name of the proposed company :-
First step in the incorporation of a company in India is availability of its name. For this you can propose any suitable name, provided it is not prohibited under the Indian Companies Act.  You have to suggest 6 names on priority wise. Application for the name has to be filed in Form 1A.  Form 1A will be signed digitally and thus the applicant must have Digital Signature. The object of the company must be reflected in the name, e.g., ABC Software Pvt. Ltd. At this stage Form 1A should be filled completely and thus please go through Form 1A. DIN of the promoters has to be obtained at this stage and thus their id proof & address proof in the form of ration card or copy of passport is required. If proposed Company is WOS (wholly owned subsidiary) company of the foreign company, a Board resolution on the letterhead of foreign company for allowing to use the name and authorizing to incorporate a company in India is required which should be countersigned by Indian Consulate in the Indian Embassy there. For using the word ‘India, International, Industries, Corporation, etc, different slabs of Authorized capital has been prescribed. Directors have to sign electronically and thus they have to obtain Digital  Signature. Two person can form a private limited company and at least seven subscribers are required to form a public limited company. In the case of Foreign Directors they are not required to be physically present in India. They require only the address of registered office.

2. Finalization of Main Objects and Memorandum & Articles of Association of the Company :-
After getting the name of the company, next step is to finalize the main objects and Memorandum & articles of Association. At least two
subscribers are required for subscribing to the Memorandum of Association. In case of Foreign subscribers, their signatures are
required to be attested by Indian Consulate in the Indian Embassy there. If the foreigners/NRI are physically in India, we can attest their
signature. The subscribers should write their particulars in their OWN handwriting.

3. Stamping of Memorandum and Articles of Association :-
After finalization of Memorandum and Articles of Association, the same is required to be stamped through e-stamping process available on MCA portal as amended by the Ministry vide Notification No. GSR 642(E) and SO 2276 (E) dated 07/09/2009 and SO 3314 (E) dated 31/12/2009.

4. Filing of Draft Memorandum and Articles of Association with Registrar of Companies :-
After stamping of Memorandum and Articles of Association, the same are to be signed by the promoters. After that,  it will be filed with Registrar of Companies electronically and physically along with the following documents. Registration Fees which will depend on proposed Authorized  Capital of the company:

Form No. 1      : Statutory Declaration for compliance of provisions of the Companies Act, 2013 in regard to Formation of Company
Form No.18     : Address of Registered office
Form No.32     : Particulars of  Director Consent to act as director by the Directors of the proposed Company
Power of Attorney :  Authorization for making corrections in the office of Registrar of Companies

After above steps, Certificate of Incorporation will be obtained from Registrar of Companies. Here, all steps for Private Limited Company are over and you can start your business immediately. For Public limited Company, after this Certificate to Commence business is to be obtained from ROC and only after that you can start your business. Please refer difference between private limited company and public limited company.

5. After getting Certificate of Incorporation, following will be made:
(i)   Common Seal of the company
(ii)  Share Certificates, and
(iii) Printing of  50 copies of Memorandum & Articles of Association

6. Fees structure:
Govt. fees ( in INR)
Name application 500
Capital fees( For  Rs. 1 lakh ) 4000
Stamping fees( Rs.150 per lakh) 150
Printing of memorandum & other exp. 5000
Cost of Digital Signature 2500

Capital fees is around 2-3% of the capital, as follows
Rs 1 Lakh 4000
Rs 5 Lakh 16000
Rs. 10 Lakh 27000
Rs 25 Lakh 56000
Rs 50 Lakh 106000

Time frame:
Company formation: 7 working days  ( subject to availability of all the papers with proper signature)

Our Professional Fees:
Company Formation:  INR 1,00,000 50% of the fee is to be paid at the time of assignment of work and balance after incorporation of
Company.

Our services at additional cost:
We shall provide you every services from incorporation of Company to obtaining all the essential nos./licenses,   accounting, taxation
consultancy, with-holding tax compliance, Payroll processing, auditing  etc. We also provide address for registered office in Delhi at
cost, ie., USD 100 per month.


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