COMPANY FORMATION

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In India there are two types of companies that fall under company formation services including:

Private Limited Company

For a private limited company these conditions must be followed:

  • Minimum Authorized and Paid up Capital of 1 Lac
  • Minimum Numbers of Directors Two
  • Minimum number of shareholders are two
  • Maximum 50 excluding current and past employees of company
  • Use the word Private Limited in its name
  • Prohibited to take public deposits unless allowed under the relevant law
  • Must keep one board meeting in each quarter
  • Must keep one Annual general meeting of shareholder within six months of year ending
  • Must carry out audit of accounts of the company
  • Must file balance sheet and annual return on yearly basis

Some of the steps to form the Company comprises of the following:

  • Obtaining Directors Identification Number
  • Obtaining Digital Signature of Director
  • Applying for the names of the Company
  • Drafting of MOA, AOA and other documents required for formation
  • Payment of the required government fees
  • Obtaining Original Certificate of Incorporation

Public Limited Company

For a Public Limited Company these conditions must be followed:

  • Minimum Authorized and Paid up Capital of 5 Lac
  • Minimum Numbers of Directors Three
  • Minimum number of shareholders are Seven
  • Use the word Limited in its name
  • Prohibited to take public deposits unless allowed under the relevant law
  • Must keep one board meeting in each quarter
  • Must keep one Annual general meeting of shareholder within six months of year ending
  • Must carry out audit of accounts of the company
  • Must file balance sheet and annual return on yearly basis

Essential steps for the formation of the company include the following:

  • Obtaining Directors Identification Number
  • Obtaining Digital Signature of Director
  • Applying for the names of the Company
  • Drafting of MOA, AOA and other documents required for formation
  • Payment of the required government fees
  • Obtaining Original Certificate of Incorporation
  • Preparation and filling of prospectus or statement in lieu of prospectus along with required forms
  • Obtaining certificate of commencement of business
 
     
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