Company Registration Made Simple

The Ministry of corporate affairs (MCA), Government of India reduced the fee for registering a private limited company, but you cannot register your business for free. The charges are minimal but they are not free.

What are the documents required for private company registration?
Owner/Director’s Documents.:

• Directors PAN
• Directors ID proofs (Aadhar Card, Pan Card, Passports, Driving License)
• Directors Address proof
• Latest One Month Savings Account Statement
• Latest mobile phone bill or electricity bill.
• Passport size photograph
• E-mail ids
• If, Foreign Director International passport mandatory.

Companies Documents:

• Registered office address
• Company PAN Card.
• Lease or Leave and licence agreement if the land is rented or taken as leased.
• NOC from the landlord.

The One Person Company (OPC) may be transformed right into a Private Limited Company (PLC) as per Section 18 of the Companies Act, 2013 and the provisions of Companies (Incorporation) Rules of 2014. The conversion of OPC right into a private limited company will now no longer have an effect on the prevailing debts, liabilities, duties or contracts of the OPC. The necessities which are important for the conversion of OPC are changes withinside the Memorandum of Association (MOA) and Articles of Association (AOA) of the OPC (As consistent with the provisions supplied in phase 18 of the Companies Act, 2013, alongside phase 122 of the Act). For incorporating a personal constrained organisation there desires to be no less than contributors and directors. To follow for conversion of OPC to a personally constrained organisation, you want to fill the shape INC-6, to the Ministry of Corporate Affairs, Govt. of India.

The registration of a company is a scrutinizing process and thus there are few companies that get rejected under certain rules. Some of the rules are:

• The name does not align with the principles or objectives of the company.
• A translated name of a reputed brand name.
• Phonetic resemblance to an existing company
• Includes words that are offensive to any community.

These are some of the major points out of many other points of rejection.

Digital Signature is a digital code that is attached to the documents to signify equal authority as of the handwritten signature on the document. It is the proof for the authenticity of the document by the owner of the company.

Director Identification Number is an 8-digit identification number that is unique. It is allotted to every individual wanting to become a director or is already a director by the central government. The DIN Once allotted has a lifetime validity. The DIN helps the government keep track of all the directors. It is used on all official documents that requires the signature of the Director.

There are various types of company registrations that are available in India that one can register for: They are:

• One Person Company (OPC)
• Private Limited Company
• Public Limited Company
• Limited Liability Partnership (LLP)
• Non-Profit Organizations

Authorized Capital and Paid-up Capital? Answer: The Capita of a company is the money given by the shareholders to conduct the business activities. It is mandatory under the Capital clause of the Memorandum of Association (MOA). The main differences between the authorized capital and the paid-up capital of a company are described below.
Authorized Capital

• The Authorized Capital is the maximum amount that a company can legally authorize for the issue to the shareholders.
• The amount should be more than that of the paid-up share.
• Authorized capital can be augmented anytime with the prior permission of the shareholders.

Paid-up Capital

• The Paid-up Capital is the amount of money actually amount paid by the shareholders.
• Under the Companies Amendment Act of 2015, the requirement of having a minimum prescribed paid-up share capital has been removed.

For the registration of a company various documents are required to be submitted. The required documents are:

• Directors & Shareholders Documents
• Passport size photograph
• PAN Card Copy (mandatory)
• Address Proof (Any one of the below)
Passport
Aadhar Card
Driving License
Voter ID
• Residential Proof (Any one of the below)
Bank Statement
Electricity Bill
Telephone Bill
Mobile Bill
• Registered Office Address Proof Documents
• Office Property Ownership/Rental documents
• Address Proof of Registered Office Premises

Providing these documents will enable a smoother registration process.

Digital Signature Certificates (DSCs)in the age of technology has become an integral part. A DSC is required for signing a document or application digitally. There are various reasons why a DSC is required and thus based on their requirements, one can obtain any one of the following three classes of digital signature certificate in India:
Class-1 DSC: This class of DSCs is issued to private subscribers and individuals to help them in securing their email communications, and authentication of their individual identity.
Class-2 DSC: These DSCs are issued to company directors and other signatory authorities of a company/firm/organization.
Class-3 DSC: This class of DSC is useful for participation in e-Tenders and e-Auctions, conducted anywhere in entire India.

MOA stands for Memorandum of Association whereas AOA stands for Articles of Association. Both the documents are important sources of information for shareholders and other stakeholders of a Company.
MOA is used in providing information regarding:

• Name
• Aims
• Objectives
• registered office address
• the clause regarding limited liability
• minimum paid-up capital
• Share capital of the Company.

It helps understand the relationship of a Company with the others.
AOAs on the other hand helps provide the necessary documents when the company is incorporated with the Registrar of Companies (ROC). AOA and MOA in conjunction are called the COnstitution of the COmpany.