Company registration process in India

Company Registration Process In India

In India, company registration is also referred to as the incorporation of a company or the formation of a business. Registering the company makes the business a distinguished entity and gives it a legal existence. The registration process of a company is done under the Ministry of Corporate Affairs (MCA), which is governed by the Companies Act, 2013.


Steps To Be Taken To Incorporate A New Company

      Step 1: Applying for and obtaining the Director Identification Number
The first step towards the company registration process in India begins by obtaining a unique identification number. According to the Companies Amendment Act 2006, all directors in a company need to acquire their Director Identification Number (DIN) The application form is available online on the official website of the ministry of corporate affairs (MCA Website) as the DIN-1 Form. All business owners need to register themselves at MCA Website and acquire a login ID.
The DIN-1 Form must be dully filled and uploaded after paying the applicable fees. The DIN application form is charged a nominal INR 100 and takes about one day for execution.
      Step 2: Applying for and obtaining the Digital Signature Certificate
The authenticity of the documents and information provided in the DIN-1 Form can only be assured by getting a valid digital signature on all the documents submitted in the e-filing process. The company registration process in India requires every business to acquire a Digital Signature Certificate (DSC) to ensure a secure way to get the documents submitted electronically. Normally this digital certification is valid for a period of one or two years, and after expiry, it should be renewed by the Controller of Certification Agencies (CCA) again.
      Step 3: Filing For New User Registration
It is important to get registered on the MCA portal. You need to create a user account for filing an e-Form, carrying out different transactions and paying the prescribed fees. The Ministry of Corporate Affairs does not charge any fee for creating an account.
      Step 4: Filing for Charter Documents
In a company registration process, the applicants are required to create charter documents like Memorandum of Association (MOA) and Articles of Association (AOA).
Memorandum of Association (MOA) – It provides details regarding the objectives and powers of the company and also the relationship between the outsider and the company. The MOA once created cannot be amended.
Articles of Association (AOA) – This document specifies the rules and regulations laid by the company. It provides details about the management, conduct and bye-laws governing the internal affairs of the company. The AOA can, be amended, if required.
      Step 5: Application For Company Name
 Select, in order of preference, at least one suitable name up to a maximum of six names, indicative of the main objects of the company. Ensure that the name does not resemble the name of any other already registered company by availing the services of checking name availability on the portal.
      Step 6: Register Other Details
The next step in the company registration process in India includes registering the company name & address and notice for appointment of directors, secretary and manager.
Form-1 must be carefully filled and submitted for incorporating the company name on the MCA website. It is mandatory to provide at least 4 alternative names for your company. Following this, you must choose one of them and process with filing Form -18 and Form-32 for company’s address and appointment of directors, secretary and manager respectively. Submit the following eForms after attaching the digital signature, pay the requisite filing and registration fees and send the physical copy of Memorandum and Article of Association to the RoC. Once the forms are submitted they are examined carefully by the concerned agencies. The whole process is completed in about 8-10 days. On being approved by the MCA, the status of your company registration form changes to Approved.

After processing of the Form is complete and Corporate Identity is generated obtain Certificate of Incorporation from RoC (Registrar of Companies).

Created & Posted by Sony Garg

Accountant at TAXAJ


TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/BusinessTrademark & Brand RegistrationDigital MarketingE-Stamp Paper OnlineClosure of BusinessLegal ServicesPayroll Services, etc. For any further queries related to this or anything else visit TAXAJ

 

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