Is there any time for the commencement of a company?
For registration of a new company, whether, it is a public or private limited company, one need
- to obtain digital signature of the authorized signatory for the company.
- Next, would be to apply for the Director Identification numbers for the directors of the proposed company.
- The obtained digital signature required to be registered.
- Has to apply for availability of the name of the company by filing Form INC-1 with Registrar of Companies. A company is not allowed to name the company which is prohibited under the Emblems and Names (Prevention of Improper Use), 1950. If the proposed name of the company is undesirable, the registrar may reject the same and ask the applicant to resubmit the name of the company.
- Before that, Memorandum of Articles to be adopted, which should be in line with able A, B, C, D and E of Schedule I of the Act. Also, Articles of Association, is to be drafted as per Table F, G, H, I and J of Schedule I
- Once the name is accepted by the Registrar, which depends on the type of the company, whether insurance, software company, bank etc. Documents for the purpose of incorporation are required to be filed in various forms.
- Applications for incorporation of the Company other than One Person Company to be filed along with Memorandum and Articles of the Company signed by all subscribers in Form INC-7 and Form no. INC.22 for situation of registered office along with following documents:
- A declaration signed by an advocate or Practicing professional (CA, CS, CA) and a person named in director as Director, Manager or Secretary, in Form No.INC.8 to be filed stating that due compliance made for incorporation
- Affidavits from each subscriber to be filed in Form INC 9 stating that he is not convicted for any offence related to promotion, formation and management of the company, and not guilty of any fraud, misfeasance or breach of duty to any company in the last 5 years and their verification in form INC 10 to be filed
- Proof of address for correspondence, particulars of all subscribers along with their proof of identity, details of first directors with proof of identity; and details interests of first directors in other firms or bodies corporate as directors.
Adv. Anitha Gutti