Tax Finance Info: Private Ltd. Co.

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Registration of Private Ltd. Company in India - A Procedure

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<b style="font-size: x-large;">Registration of Private Ltd. Company in India - A Procedure</b></div>
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<b><span style="font-size: large;">Procedure for Registration of Private Companies in India:</span></b></div>
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<span lang="EN-US">                      In <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>
when you want to register a private company, you have to fulfill certain
formalities such as filling forms, submitting documents with ROC, etc and many
other things along with compliance of the provisions of Companies Act. You have
to follow a stepwise simple process to register a Private Company and the
process is as given below:<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><img alt="*" height="12" src="file:///C:/Users/DHAVAL~1/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" width="12" /><span style="font-family: 'Times New Roman'; font-size: 7pt;">     
</span></span><b><span lang="EN-US">Obtain DIN: </span></b><span lang="EN-US">In order to
register a private company, there is a requirement of promoters, who acts as
directors initially. It is mandatory to have a Directors Identification Number
for a person to become a director in the company. Points to be kept in mind
while proceeding for obtaining DIN:<b><o:p></o:p></b></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">It is mandatory to
have DIN for a person to become director in the company.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">In case where a
person already has DIN, check that he does not have directorship with more than
15 Companies excluding the list given in the Companies Act. The list is as
follows:<o:p></o:p></span></div>
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<span lang="EN-US">1.<span style="font-size: 7pt;">      
</span></span><span lang="EN-US" style="background-color: white; background-position: initial initial; background-repeat: initial initial;">Directorship in
Private Company </span><span lang="EN-US"><o:p></o:p></span></div>
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<span lang="EN-US">2.<span style="font-size: 7pt;">      
</span></span><span lang="EN-US" style="background-color: white; background-position: initial initial; background-repeat: initial initial;">Alternate
Director </span><span lang="EN-US"><o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US">3.<span style="font-size: 7pt;">      
</span></span><span lang="EN-US" style="background-color: white; background-position: initial initial; background-repeat: initial initial;">Unlisted Company
</span><span lang="EN-US"><o:p></o:p></span></div>
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<span lang="EN-US">4.<span style="font-size: 7pt;">      
</span></span><span lang="EN-US" style="background-color: white; background-position: initial initial; background-repeat: initial initial;">Section 25
Company.</span><span lang="EN-US"><o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><img alt="*" height="12" src="file:///C:/Users/DHAVAL~1/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" width="12" /><span style="font-family: 'Times New Roman'; font-size: 7pt;">     
</span></span><b><span lang="EN-US">Obtain and Register the Digital Signature
Certificate: </span></b><span lang="EN-US"><o:p></o:p></span></div>
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<span lang="EN-US" style="font-size: 5.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-weight: bold; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><br /></span></div>
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<br /></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">     </span></span><span lang="EN-US">After receiving
DIN, the promoters have to apply for Digital Signature Certificate which will
be used to sign the documents electronically, which are to be filed online. <o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>Service of
providing Digital Signature Certificates is provided by companies like TCS. You
have to fill the form provided by the company and attach the required
supporting evidence for applying for Digital Signature Certificate.<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>When the Digital
Signature Certificate (DSC) is received, it is to be registered on the official
website of Ministry of Corporate Affairs i.e. </span><span lang="EN-US"><a href="http://www.mca.gov.in/">www.mca.gov.in</a>. This registration will allow you to sign
the documents and forms that are to be filed online with the ministry of
corporate affairs.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">The Digital
Signature is to be registered with the Ministry of Corporate Affairs for Role
check.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><img alt="*" height="12" src="file:///C:/Users/DHAVAL~1/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" width="12" /><span style="font-family: 'Times New Roman'; font-size: 7pt;">     
</span></span><b><span lang="EN-US">Apply for Name Approval</span></b><span lang="EN-US">: <o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>As soon as the DSC
is received the promoters has to apply for approving the name of the company.<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>The promoters have
to take care that they have searched for names in the service provided in the
MCA website for checking the resemblance if any exists.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>It has to be seen
that the identical names does not exist.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>The promoters have
to file the Form No. 1A which is for Application form for availability or
change of name. For filing the Form No. 1A following steps are to be followed:<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Go to site </span><span lang="EN-US"><a href="http://www.mca.gov.in/">www.mca.gov.in</a><o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US"> Select the box of “MCA21”.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">On the right side you will find a box written “Company Forms Download”.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Download the Form No.1A from the list of forms.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 108.0pt; mso-list: l0 level3 lfo1; tab-stops: list 108.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Fill the details and digitally sign it.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
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<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Submit the form.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>In the form 6
proposed names are to be provided from which one will be allotted to you. Try
to provide the names in priority sequence of receiving that name as allotted.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>Fees for making
Name Allotment Application id Rs.500.<o:p></o:p></span></div>
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<br /></div>
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<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><img alt="*" height="12" src="file:///C:/Users/DHAVAL~1/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" width="12" /><span style="font-family: 'Times New Roman'; font-size: 7pt;">     
</span></span><b><span lang="EN-US">Application for Registration</span></b><span lang="EN-US">:<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>After receiving the
approval of name the promoters have to proceed towards applying for
registration of company before completion of 6 months from the receipt of name
approval.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>The promoters have
to file 3 forms initially. They are:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 90.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 90.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Form 1 – Application or declaration 
for incorporation of a Company<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 90.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 90.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Form 18 – Notice of Situation or change of Situation of registered office<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 90.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 90.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Form 32 – Particulars of Appointment of Managing Director, Directors,
manager and secretary and the Changes among them or consent of candidate to act
as a managing director or director or manager or secretary of a company and/ or
undertaking to take and pay for qualification shares.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>All the above forms
are available on the website of MCA along with Form No. 1A.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 18.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><img alt="*" height="12" src="file:///C:/Users/DHAVAL~1/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" width="12" /><span style="font-family: 'Times New Roman'; font-size: 7pt;">     
</span></span><b><span lang="EN-US">Payment of Fees</span></b><span lang="EN-US">:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 18.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>Along with
application, fees for registration of Company are to be paid. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>Fees are to be paid
on the basis of type of company and amount of authorized capital.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>A quick Link of
“Calculate the Fees” is given on MCA21 portal where you can calculate the fees.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>Payment is allowed
by different modes such as Net Banking, Credit Card, Debit Card, Challan and
NEFT.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>Always keep the
copy of evidence generated on payment of fees such as copy of challan generated
in case of all the online payments and copy of challan when the fees are paid
by physical challan.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 18.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><img alt="*" height="12" src="file:///C:/Users/DHAVAL~1/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" width="12" /><span style="font-family: 'Times New Roman'; font-size: 7pt;">     
</span></span><b><span lang="EN-US">Preparation of Documents: </span></b><span lang="EN-US">Once the name approval is received, the promoters have to prepare the two
most important documents of the company. It is to be filed with ROC within the
time period of 6 months from receipt of name approval of the company. Such
documents are Memorandum of Association (MOA) and Articles of Association of
the Company (AOA). Let us see its basic details:<b><o:p></o:p></b></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 54.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><b><span lang="EN-US">Memorandum of
Association</span></b><span lang="EN-US">: A stamped copy of Memorandum of
Association is to be provided to the registrar of companies. Memorandum of
Association (MOA) acts as a constitution of the Company. It contains the
clauses of Name, Object, Situation, Liability etc. It states the identity of
the company to the stakeholders. It should also contain subscription clause
which contains the following details of promoters in own handwriting:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Full Name<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Father’s /
husband’s Name<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Address<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Occupation<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Number of Shares
taken by promoter<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Signature of the
promoter.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Signature of person
witnessing the promoters’ signature.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; mso-list: l0 level4 lfo1; tab-stops: list 144.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Date and Place<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 144.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 54.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 54.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><b><span lang="EN-US">Articles of
Association</span></b><span lang="EN-US">: In addition to Memorandum of
Association, Articles of Association is also an important document of the
company. It contains the rules and regulation of a company acting as a guide
for internal management. Certain restrictions and powers are assigned by the
clauses of the Articled of Association. Along with the MOA a stamped and a
spare copy of Articles of Association (AOA) is to be filed with ROC within the
time period of 6 months from receipt of name approval of the company.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 18.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><img alt="*" height="12" src="file:///C:/Users/DHAVAL~1/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" width="12" /><span style="font-family: 'Times New Roman'; font-size: 7pt;">     
</span></span><b><span lang="EN-US">Submission of Documents</span></b><span lang="EN-US">:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 18.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 9px;">     </span><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span lang="EN-US">Along with
application the following documents are to be submitted:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 72.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 72.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Documents in supporting of Fees paid to Registrar of Companies (ROC)<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 72.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 72.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Document being a original letter received from Registrar of Companies
communication the allotment or approval of name.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 72.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 72.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">A stamped copy and a spare copy of both Memorandum of Association  (MOA) and Articles of Association of the
Company (AOA)  are to be filed with the
ROC.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="margin-left: 72.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">Copy of agreement of company with any person proposed to be a whole time
director or manager.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 72.0pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 72.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">A power of attorney given to a person for acting as an authorized
signatory is to be submitted which is to be provided in the non – judicial
stamp paper, purchased in the name of person who is a signing authority.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="margin-left: 72.0pt; mso-list: l0 level3 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-bidi-font-weight: bold; mso-fareast-font-family: Wingdings;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;">  </span></span><span lang="EN-US">No objection letters from promoters / directors who are shown as
promoters in Form No. 1A but who will not be associated with the company
afterwards are to be filed with the Registrar of Companies.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><img alt="*" height="12" src="file:///C:/Users/DHAVAL~1/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif" width="12" /><span style="font-family: 'Times New Roman'; font-size: 7pt;">     
</span></span><b><span lang="EN-US">Receiving the Certificate of Incorporation</span></b><span lang="EN-US">:<o:p></o:p></span></div>
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<br /></div>
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<span lang="EN-US" style="font-size: 5.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-weight: bold; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>When all the
documents along with the application form are submitted and all the due fees
are paid, the Registrar of Companies will check that everything is as required
and the compliance with The Companies Act and other applicable laws are obliged.
In short the ROC will scrutinize the documents and on finding then satisfactory
then he may register the company or if s are required than the ROC will call
the authorized person to settle the make necessary changes and then he will
register the company.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>In case where
anything is missing, the Registrar will call for such details.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>On registration the
Registrar of Companies will issue a Certificate of Incorporation of Companies
within a week or two in normal cases.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>As soon as the
Certificate of Incorporation is received a private company can commence its
business as per The Companies Act, 1956.<o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»</span><span lang="EN-US"><span style="color: #4f81bd; font-size: 9px;">     </span>The Certificate of
Incorporation bears a date which will be known as the “Date of Incorporation”
and will be used as a “Date of Birth” as in the case of normal Human Being.<o:p></o:p></span></div>
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Registration of Private Ltd. Company in India - A Procedure

Registration of Private Ltd. Company in India - A Procedure Procedure for Registration of Private Companies in India: ...

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Private Limited Companies - An Introduction

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<b><span style="font-size: large;">Private Limited Companies - An Introduction</span></b></div>
<br />
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<img border="0" height="164" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXgwZN4av8LvGWe14iiUt0KtYqDRtI4YS67adWmDneqKEZkgp5ulUSOa3_5tIq-dcUuzbF8gXP3un2-wmDzIoJ5GZZ9jHIWuf2duuvxa_mgwxk80CWtsCpxH7knJqnS3rjw2aAPV5k6Ej3/s1600/Private+Limited+Companies+-+An+Introduction.jpg" width="320" /></div>
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<span lang="EN-US">                An artificial
judicial person is a common definition for Company form of business
Constitution in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>.
There are different kinds of company viz. Limited Company, Government Company,
Foreign Company, Private Company etc. A Private Company is defined in section
3(1)(iii) of the Companies Act.  The explanation of the section is given below:<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<b><span lang="EN-US" style="font-size: 13.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-size: 11.0pt; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">Explanation:<o:p></o:p></span></b></div>
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<b><span lang="EN-US" style="font-size: 13.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-size: 11.0pt; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
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<br /></div>
<div class="MsoNormal" style="margin-left: 18.0pt; mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">    </span></span><span lang="EN-US">The above section provides a meaning to the
private company that a private company has private ownership.<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Practically friends and relatives of the
directors are the members of the private company. <o:p></o:p></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">No public issue is allowed so near relatives
are preferred to be invited to purchase company’s shares. <o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">     </span></span><span lang="EN-US">There is a restriction on transfer of shares
in a private company but not prohibition. Shares are transferable internally. <o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Investing in private company is less risky
because the management is in the hands of friends and relatives only so they
will work in the interest of company because wealth of many near ones are
invested in such companies.<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
<div class="MsoNormal" style="margin-left: 18.0pt; mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="color: #4f81bd; font-family: "Agency FB","sans-serif"; mso-bidi-font-family: "Agency FB"; mso-fareast-font-family: "Agency FB"; mso-themecolor: accent1;">»<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">There are two number restrictions provided by
the section for being a private company. They are:<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US">1.<span style="font-size: 7pt;">       </span></span><span lang="EN-US">The company
must have a minimum paid – up share Capital of Rs. 1,00,000 and<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US">2.<span style="font-size: 7pt;">       </span></span><span lang="EN-US">Members are
restricted to a maximum number of 200 (Earlier it was only 50).<o:p></o:p></span></div>
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<br /></div>
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<b><span lang="EN-US" style="font-size: 13.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">Changes in The Companies Act 2013 as compared to 1956 with respect
to private companies:<o:p></o:p></span></b></div>
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<b><span lang="EN-US" style="font-size: 13.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
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<br /></div>
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<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">*<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US">The Companies Act 2013 has replaced The
Companies Act 1956. Due to these there has come been a change in the above
definition. As per The Companies Act 1956, the number of members restricted for
the private company was “50” while it has been increased to “200” with the
introduction of The Companies Act 2013.<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US">

</span></div>
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<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">*<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US">The Companies Act 2013 gave introduction to
One Person Company (OPC) while the same was not in the case of The Companies
Act 1956. Because as per The Companies Act 1956 the minimum number of members
required to form a Private Company was ‘two’.<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US"><br /></span></div>
</div>

Private Limited Companies - An Introduction

Private Limited Companies - An Introduction An artificial judicial person is a common definition for Company form of...

+ Read more »