Company Formation in India Procedures
Applicable law
The Indian Companies Act, 1956. The Companies Act of 1956 sets down rules for the establishment of both public and private companies.
Allotment of Director Identification Number (DIN)
Application in Form DIN-1 shall be made online and provisional DIN number of the person intending to become director of the Company shall be generated.
Acquiring Digital Signature certificate (DSC)
Digital Signature Certificate is acquired by submitting the application alongwith prescribed fee to one of the various vendors like TCS, Satyam etc. On submission of documents, DSC is allotted in 1-2 days.
Name Approval of the company
An application in Form No. 1A needs to be filed with the Registrar of Companies (ROC) online through Digital Signature of one of the proposed director. On submitting the application, the ROC scrutinizes the same and sends the approval / objections in about 3-4 days to the applicant through e-mail.
Procedure after name approval of the company
An application for registration should be submitted to the Registrar of Companies with the following documents:
- Memorandum of Association;
- Articles of Association;
- A declaration in Form 1 by a person named in the articles of the proposed company as a director, manager, or secretary of the company, or by an advocate of the Supreme Court or High Court, or by an attorney entitled to appear before the High Court, or by a Chartered Accountant practicing in India stating that all the requirements of the Companies Act 1956 and the applicable rules with respect to the registration and other matters have been complied with;
- A list of persons who have consented to act as directors of the company.
- Consent of every person prepared to act as a director.
- Information about directors, managing directors, managers and secretary must be submitted in a prescribed Form 32
- Information about the registered office in prescribed Form 18
- Power of attorney in favour of one of the promoters or any other person, authorizing him/her to make corrections in the documents submitted to the Registrar of Companies,
- Applicable registration fee payable to the Registrar of Companies.