The Companies Act of 1956 establishes guidelines for the formation of both personal and corporate companies. The limited company is the most frequent corporate structure, with unlimited businesses being unusual. The Memorandum and Articles of Association are filed with the State Registrar of Companies in the state where the main office will be situated to start a business.

What are the steps for Company Registration?

Deciding your Business Structure:

This is one of the most basic and core processes in forming a business anywhere on the planet. The course your company takes and how it manages operations for the rest of its existence will be largely determined by the business structure you choose. As a result, deciding on the best business structure that meets your company's objectives and goals becomes critical. There are many different types of business structures in India, and deciding which one to use might be difficult. As a result, we'll take a quick look at all of the company structures to assist you in selecting the finest one.

Step 1: Reservation of a name

The prospective company's name must be reserved before filing an application to incorporate and register a Pvt Ltd Company in Bangalore. The application for the reservation of the name of a private limited company must be submitted in e-Form INC – 1 together with the required costs. You may submit a maximum of 6 names in a single application, in order of preference, along with the importance of the suggested name (s). Before filling out the application, the chosen professional must do a name availability search so that the applicant may apply for the names in the appropriate manner. The Registrar has total discretion when it comes to granting name applications.

The individual must submit an application for the approval of a name in accordance with the Act's requirements. Furthermore, the following common principles are followed while selecting and applying the name:

• The name should be simple to remember and spell.

• The name should be able to give the organisation a distinct identity; it should be brief and straightforward;

• There should be no words in the name that are against public policy or forbidden;

• It must not infringe on any trademarks that have been registered, nor should it be identical to or similar to any company/LLP that has been registered.

The registrar will secure the very same name for a period of sixty days after the application is granted. The promoters, in consultation with the Professional, must file an application for registration of the company within the necessary 60-day period, failing which the name reservation will expire and a new application for name reservation for another 60-day term must be filed.

Step 2: Procure a Digital Signature certificate

Obtaining the DSCs of all people involved in the registration of a private company in Bangalore is the first and most crucial step. Since the Ministry has required an online registration method for business incorporation and other applications, the requirement for DSCs stems from the Ministry's desire for filling the e-forms on the MCA's online portal. The Certifying Authority issues DSCs, or Digital Signature Certificates, in a token form that is valid for one or two years. Directors and Subscribers for the prospective firm are involved in company creation in India. A subscriber is someone who is the company's promoter and one of the prospective shareholders. The mentioned shareholders must file the e-MOA and e-AOA by attaching the DSCs, while suggested directors must receive DIN by submitting an online application.

Documents required for Digital Signature Certificate

• Applicant’s Photo (Passport size)
• Applicant’s Address proof(Self-Attested)
• Self-Attested Pan card of Applicant.

Step 3: Obtain the Director's Identification Number (DIN).

The Ministry of Corporate Affairs (MCA) issues a one-of-a-kind number to the individual who applies for a DIN. The Ministry assigns the number for life unless it is abandoned or cancelled. The directors of a Private Limited Company must obtain and declare the DIN when the company is formed. As a result, obtaining a DIN is essential prior to be elected as a Director of any company. The Director Identification Number you obtain can be used to become a Designated Partner in the LLP or for any other business.

Documents required for obtaining DIN

• Passport size photograph of the applicant;
• Self-attested Address proof of applicant; and
• Self-attested PAN card of the applicant.

Step 4: Incorporation Certificate

The application for the issue of a Certificate of Incorporation must be filed after the prospective company's name has been reserved by completing form INC – 1. The application for online company registration must also be submitted using the Simplified Proforma for Incorporating Company Electronically (SPICe) forms.

Drafting MoA & AoA

The Memorandum of Association (MOA) and the Articles of Association (AOA) are both charter papers for a Private Limited Company. Memorandum of Association (MoA) and Articles of Association (AoA) are abbreviations for Memorandum of Association and Articles of Association, respectively.

The company's scope of operations is defined by the Memorandum of Association, which lists the company's principal aim and activities. The Articles of Association, on the other hand, specify how the operations and administration will be carried out. After consulting with a professional, both papers of critical importance should be properly prepared.

Along with the application for company creation and registration in Bangalore, the firm's memorandum and articles must be filed in SPICe forms. Subscriptions to MoA and AoA will be done by electronically affixing subscribers' DSCs.

Documents to accompany the Application

• Utility bill and letter of authorization from the owner for the company's Registered Office address;
• If the premises are rented, a rental agreement with the owner of the registered office and rent receipts are required.
• Affidavit and a declaration by the first subscriber(s) and director(s) in form INC – 9 (duly franked and notarized); Consent to function as a Director of the company in form DIR 2
• Certified True Copy of the initial subscriber(s) and director's self-attested identity proof (s).
• On the portal, the application is filed after paying the required Government Fees and Stamp Duty, as applicable in the suitable state. PAN and TAN applications and allotments are also processed using the same application.

The Registrar may provide the Certificate of Incorporation under its seal and signature in electronic form after reviewing and verifying the application for a certificate of incorporation submitted in SPICe forms. The date of establishment as well as the company's Permanent Account Number (PAN) will be included on the Certificate of Incorporation (CoI).

Conclusion:

The registration of Pvt Ltd Company in Bangalore can be processed with ease by consulting of Practising Professional. After the online company registration, the promoters and directors are directed to maintain the active status of the company by compliance with the provisions of the company by filing the annual returns and forms as specified under the Indian Companies Act, 2013. Online Legal India is one of the most trusted platforms in this field. The experts of Online Legal India have catered to a lot of clients till now and most of the clients are happy with the services they got from Online Legal India.