Stepwise procedure to register a Private Limited Company in India along with forms and documents
Companies Act, 2013 along with Companies Rules regulates the registration and legal requirements of company registration.
Procedure for registration of Private Limited Company in India
The first step in incorporating or registering a private limited company is obtaining the Directors Identification Number (DIN).
Steps and procedure to obtain DIN are:
- Obtain a Digital Signature Certificate
- Download the Form DIR-3 from website of Ministry of Corporate Affairs (MCA)
- Fill the form with correct information
- Documents to be attached with form are Self attested copies of PAN, Address Proof, Photo, CA engagement letter, Form Dir-4 and Signature verification form.
- Form DIR-3 needs to be signed by applicant and professional using Digital Signature Certificate (DSC).
- If all documents are provided on time to professional, generation of DIN will not take more than 1 hour.
Once DIN of directors is obtained, the next step in registering a private limited company in India is to file the application for Name Reservation.
Steps and Procedure to file application for name reservation
Form INC-1 is the prescribed form to apply for name reservation. The form can be downloaded from MCA website.
Fill the information in form as required. You can provide maximum 6 names at one time in preference order. Along with proposed name of company, you have to also provide the significance of proposed names.
You have to provide the details of promoters; at least 2 promoters should have DIN. Minimum number of promoters has to be 2. If DIN is not obtained then provide PAN or Passport number.
You should also specify the objects of proposed company. The same object will be drafted in Memorandum of Association (MOA).
Provide the details of Directors. Either of these directors must have Digital Signature to sign the form INC-1.
If the promoters are carrying on any Partnership firm, sole proprietary or unregistered entity in the name as applied for, NOC from the sole proprietor/partners/other associates should be attached. If business of such entity shall take over by the proposed Company, the paid up capital of new company will be equal to Net Worth of existing business. You need to furnish a copy of the Partnership deed, latest Assessment order, Balance Sheet of past two years and also Profit and Loss account. An affidavit signed by all the partners showing that the main objects of the Company will be to take over the business of present firm and thereafter the firm will be dissolved.
If name is already registered under trademark provide the copy of registration along with NOC.
Other options relating to RBI approvals etc. along with attachments should be provided in form INC-1. This form cannot be revised and all information should be provided accurately to avoid rejection of the form.
If name applied for is allotted, then next step in registering a private limited company is filing application in form INC-7 for Incorporation of Company.
Procedure and steps involved in filing the application INC-7 for registration of private limited company in India
You need to provide the SRN of form INC-1 filed in previous step. Once SRN is provided click on button to automatically fill the information.
You need to provide the code of Main division of Industrial Activities of Company. This code can be located from the help file attached with the form INC-7.
You need to provide the details of promoters (Name, Address, E-Mail Id and Mobile numbers, Duration of stay at Present address, Qualification etc.) along with attachments. Documents to be attached for this purpose are, Self Attested Copy Pan Card, Voter Id/Passport/Driving License/Aadhar Card and Bank Statement/Electricity Bill/Telephone Bill/Mobile Bill (these should be latest by 2 months). For each promoter specify the number of shares subscribed and same shall match with shares subscribed in MOA.
For each promoter, the documents other than above should be signed and attached are INC-8, INC-9, INC-10, Declaration-Deposit, and Declaration-offence. Memorandum of Association (MOA) and Articles of Association (AOA) should also be attached in the form INC-7.
Along with INC-7, Form DIR-12 should be filed. The form INC-22 for registered office of company should be filed within 30 days of registration of company or it can also be filed along with form INC-7, if the registered place and place for communication are same. Once form INC-7 and others are uploaded on MCA portal, the application will be processed.
Once INC-7 is processed, Certificate of Incorporation will be issued.
Note: Registration and formation of company is regulated and controlled by MCA, and procedures are centralized. Only stamp duty differs with each state, otherwise procedure and cost is almost same.
Some of offices of ROC in South India:
- Registrar of Companies, Andhra Pradesh & Telangana (ROC Hyderabad)
- ROC Bangalore
- ROC Chennai
Minimum number of directors in a company should be 2 and maximum number of directors should not exceed 15*. In a private limited company, minimum number of shareholders should be 2 and maximum can be up to 200.
nice article.. sir what is total cost to incorporate a company in India..apart from professional fees.