The Legal Requirements for Company Registration in India

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The Legal Requirements for Company Registration in India

Company incorporation is an ideal process for every Business firm. It is a big, original and creative idea to form a company in reality. Company incorporation mainly follows Companies Act, 2013. Companies Act is a particular procedure to incorporate your company legally. A particular procedure is given in the Companies Act, 2013 to incorporate a company. Business can be started or you can set your own company but it is not recognized legally as long as it is not registered. There are a series of legal services you will require while filing forms, producing documents, consulting and taking advice, registering all the documents etc.

Here are some legal services or consultation

• Selection of the type of Business

There are many forms of Businesses such as Private Limited Company, One Person Company, Partnership Firm, Limited liability partnership etc. Legal advice is required to avoid any kind of mistake. This will provide you with a clear picture of how all type of companies work.

• Selection and Approval of a Company Name.

Selection and Approval is a process that requires certain things to be kept in mind while selecting a company's name. There are certain legal procedures other than the need of the name being unique and easy to remember. There are certain other legal procedures you need to keep in mind, e.g., in case of a private company also adding that the Private Limited Company was formed by conversion from a One Person Company. This may require legal assistance in searching a suitable name for your company and getting it approved.

• Drafting a Memorandum and Article of Association.

Drafting of MOA and AOA follows a particular pattern. These have certain guidelines that include a certain type of information related to your company. These are basically to avoid any kind of objections that may lead to your application's rejection. In case to create a MOA or AOA that suits your company's specific needs, you might have to consider or seek legal advice. This will help you draft a memorandum in the proper format as prescribed and required.

• Decision on Forms of Company

  • Unlimited
  • Limited by Guarantee
  • Limited by Shares

• Decision of the Types of the Company

  • One Person Company
  • Private Limited Company
  • Public Limited Company
  • Producer Company

• Requirements of the Company Incorporation

  • Apply for DSC (Digital Signature Certificate) for directors of the company.
  • Apply for DIN (Director Identification Number)
  • Declaration of Share Capital of the company in case of a company limited by shares.
  • Filing of forms like SPICe form INC-32

It is very important and should be done very carefully. This also includes an application for name approval, DIN, registration of your company and TAN and PAN application.

Proper documents should be attached to avoid any confusion and legal advice is generally taken.

• Arrangement and production of different documents, including identification and address proofs, and the documents related to the registered office.
• Drafting a business plan or budget plan

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