Incorporation of A Private Limited Company in India

The company incorporation is regulated by the Companies Act 2013. A company is a corporate entity having a separate corporate identity from its members. As a corporate legal character it is entitled to hold/buy/sell a property in its name, can have the common seal of its own. A company is formulated either as a Private company, Public Company (Listed or unlisted) or OPC (One person company). To apply for company registration, an application is required to be made at the MCA portal in E-Form Spice -32. It is suggested to apply for name approval through RUN before applying for the name approval to avoid the chance of rejection of the application of registration. One should keep in mind that the name should not violate any of the provisions of the Emblems and Names (Prevention of Improper Use) Act, 1950.

The fees for RUN are Rs 1000/- for one-time application in which the applicant can propose two names in line with preference. Minimum of two shareholders and two directors, who can be the same persons are required to form a private company. A private company can have a maximum of 200 shareholders/ members in the company. Maximum of 15 directors are allowed. In case of new company registration and cases where directors don’t have DIN, it can be applied at the same time of filling the single form Spice-32. Even PAN TAN for the new company can be applied along with the same e-Form SPICE-32. The authorized signatory shall obtain the DSC (Digital Signature certificate) to sign the various forms digitally. The Memorandum of Association and Article of Association of the company with respect to the Object of the company forms the part of an attachment to registration application. However, to apply you need to take help of Company secretary or charted accountants or such authorized person.

Source by: https://penzu.com/p/6688a327