Covering the various States and Union Territories in India, Registrars of Companies (ROC) in India are appointed under Section 609 and are vested with the principal duty of registering companies established in the respective States and Union Territories. These offices maintain all the records pertaining to the companies registered with them. These records are made available for the public for inspection on payment of a prescribed fee.
The principal tasks of the Registrars of Companies extend into Company Incorporation, name change, change of financial year, conversion of companies from Private to Public and vice versa, striking off of the names of companies, and default action against companies.
The following list summarizes the steps to be followed for Company Registration for a private enterprise.
Steps for a Private Limited company incorporation in India:
1. In the order of preference, select not less than four names for the company reflecting the main objects of the company. In this, it must be ensured that the name does not violate the provisions of Emblems and Names (Prevention of Improper Use) Act, 1950, besides not resembling any existing or already registered company.
2. Apply to the relevant ROC to ensure the availability of a particular name in Form 1A along with the applicable fees. If the proposed name is unavailable, then availability of a fresh name can be checked through the same application.
3. With the help of Chartered Accountant or lawyer, arrange to draft the Memorandum and Articles of Association. The same must be vetted by the ROC and later printed.
4. The Memorandum and Articles should be stamped with the applicable stamp duty.
5. The Memorandum and Articles should be signed by at least two subscribers in their own hand, with their father's name, occupation, address and the number of shares subscribed for under the witness of at least one person. It should be ensured that the Memorandum and Articles are dated after the date of stamping.
6. Fill up the following forms (online) and sign (Digitally):
- Declaration of compliance - Form-1.
- Notice of the situation of the registered office of the company - Form-18.
- Particulars of the Director, Manager or Secretary - Form-32.
7. Submit the following documents to the ROC with necessary filing and registrationfee:
- stamped and signed copies of the Memorandum and Articles of Association.
- Form-1, 18 & 32.
- Agreement referred to in the M & A (if any)
- Any agreement proposed to be entered into with an individual to function as Managing or whole time Director or Consent letters from proposed directors.
- Name availability letter issued by the office of the ROC.
- Power of Attorney signed by the subscribers favoring a person to make corrections on their behalf in the documents and papers filed for registration.
8. The Registration and Filing Fee must be paid either by credit card or through challan in bank
9. Obtain the Certificate of Incorporation from ROC.
Additional Steps necessary for the formation of a Public Limited Company:
10. Consent of Directors to act as such in Form No.29.
11. Make the payment of application and allotment money by Directors on shares taken or agreed to be taken.
12. In lieu of Prospectus, file the Statement with the ROC in schedule-iv of the Companies Act.
13. File a declaration in Form-20 signed by any one of the Directors.
14. Obtain the Certificate of Commencement of Business.
List of documents required for Company Incorporation in India
Details of at-least two Directors / Promoters of the company for obtaining DIN (Director's Identifications Number)
Learn More
Corporate Bank Account opening in India
For clients based outside India, opening a bank account with the well known international bank is a prudent decision. We facilitate opening of bank accounts with the banks like Citibank and HSBC in India.
Learn More
PAN (Permanent Account Number)
PAN (Permanent Account Number) is a 10 digit alphanumeric number, printed on a card, issued by Income Tax department of Government of India to both individuals and businesses.
Learn More
Service Tax
Service tax is levied on specified services and service provider is responsible for payment of tax to the government on self-assessment basis. Service Tax is administered by the Central Excise Commissionerates working under the Central Board of Excise & Customs (CBEC), Department of Revenue, Ministry of Finance, Government of India.
Learn More
Tax free IT companies in India
In order to promote export of Software and IT services from India, Government of India has permitted setting up of tax exempt units under STPI (Software Technology Parks of India) Scheme.
Learn More
Investment in Indian market
As a part of globalization strategies, India actively encourages the entry of foreign players into the market, thereby presenting a vast potential for overseas investments. For success in India, it is essential to properly estimate the country's potential and ascertain the inherent difficulties and uncertainties of functioning in the Indian system in addition to a well-designed plan backed by serious thought and careful research.
Learn More
Entry Strategies for Foreign Investors to Start Operations in India
Venturing to set up its business operations in India, a foreign company can explore the following set of options. To launch a new company in India, a foreign firm needs to incorporate its new operations in India under the Companies Act 1956, either through a joint venture or as a wholly owned subsidiary.
Learn More