Incorporating your own company is a simple and easy process in India. Modi Government has recently removed many hurdles from the private limited company’s path. Incorporating a company has been fast-tracked and can be formed within 48 hours via INC-29.

When it comes to company registration, every one have following two options:

1. Private company
2. Public company

 

The main differences between Private and Public companies are:

• Minimum number of Board members required for a private company is two and for a public company is seven.
• Private company can have maximum of only 50 members, but a public company can have any number of members.
• A private company can start its business as soon as it is incorporated but the public company shouldn’t start its business until it receives business commencement certificate.
• Private company shouldn’t sell its shares to anyone or shouldn’t make any invitation to people regarding a company shares, but a public company can invite people to buy its shares by issuing a prospectus.
• Private company may have two directors, but a public company must have at least three directors.

 

Process for private limited company formation:

 

1. Application for Name Availability- Form- INC-1

 

Purpose– checking of name availability for new incorporation of company.

 

2. Application for Incorporation of Company- Form- INC-7

 

Purpose– To file application with ROC regarding incorporation of company supported by all relevant documents.

 

Mandatory attachments –

• MOA
• AOA
• Declaration by professionals
• Affidavit by all subscribers and directors
• Verification of signature & photo
• Proof of residence & identity

 

3. Notice of situation or change of situation of registered office and verification- Form- INC-22

 

Purpose – Notice of registered office at time of incorporation and notice of change in registered office after that.

 

Mandatory Attachments:

• Proof of registered office
• utility bills
• proof of permission to use (in case not owned)

 

4. Particulars of appointment of directors and the key managerial personnel- Form- DIR-12

 

Purpose:

 

• Particulars of first directors
• Appointment of Directors and KMP
• Change in particulars particulars relating relating to Directors Directors and KMP

 

Mandatory Attachments: Consent letter & Appointment Letter

 

For incorporation of company click here.

____________________________________________________