Q1) What is Company ?

Ans: According to the Companies Act, 1956, a Company is an association of people which is formed and registered under this Act or any previous company laws. A company is a separate legal entity which is different from its shareholders. It is an important feature of Company that there is a difference between people who have control over the affairs of a Company and the people who actually own it.

Q2) How can i start my own company in India?

Ans: Steps to be taken to get a new company incorporated:

• Selection of a suitable name:

Select, in order of preference, at least one suitable name upto a maximum of six names, indicative of the main objects of the company.

Ensure that the name does not resemble the name of any other already registered company and also does not violate the provisions of emblems and names (Prevention of Improper Use Act, 1950) by availing the services of checking name availability on the portal.

• Application to concerned ROC:

Apply to the concerned RoC to ascertain the availability of name in eForm1 A by logging in to the portal. A fee of Rs. 500/- has to be paid alongside and the digital signature of the applicant proposing the company has to be attached in the form. If proposed name is not available, the user has to apply for a fresh name on the same application.

After the name approval the applicant can apply for registration of the new company by filing the required forms (Form 1, 18 and 32) within 60 days of name approval

• MOA & AOA:

Arrange for the drafting of the Memorandum and Articles of Association by the solicitors, vetting of the same by RoC and printing of the same.

Arrange for stamping of the memorandum and articles with the appropriate stamp duty.

Get the Memorandum and Articles signed by at least two subscribers in his/her own hand, his/her father’s name, occupation, address and the number of shares subscribed for and witnessed by at least one person.

Ensure that the Memorandum and Article is dated on a date after the date of stamping.

• Filing of the Forms & Documents:

Login to the portal and fill the following forms and attach the mandatory documents listed in the eForm

1. Declaration of compliance – Form-1
2. Notice of situation of registered office of the company – Form-18.
3. Particulars of the Director’s, Manager or Secretary – Form-32.

Submit the E-Forms after attaching the digital signature, pay the requisite filing and registration fees and send the physical copy of Memorandum and Article of Association to the RoC. After processing of the Form is complete and Corporate Identity is generated obtain Certificate of Incorporation from RoC.

Q3) What are the types of Companies that I can register in India?

Ans: Here are the various types of the companies you can register in India.

• Private Limited Company
• Public Limited Company
• Limited Liability Company
• Unlimited Liability Company
• Non-Profit Organizations (which are also known as Sec.25 Companies)

Q4) What are the steps to register a Company in India?

Ans: Follow the simple steps to register your Private Limited Company:-

Step 1: Obtain DSC (Digital Signature Certificate)

Step 2: Apply for DIN (Director Identification Number)

Step 3: Reserve your unique Name

Step 4: Form SPICe (INC-32)

Step 5: e-MoA (INC-33) and e-AoA (INC-34)

Step 6: PAN and TAN Application

Know in detail about the registration process

Q5) How to register a startup company in India? Is it too difficult?

Ans: Registering a company under startup India movement as startup company is very Simple and online process. For that you need to follow the following procedure.

1. Incorporating the business

You must first incorporate the business as a Private Limited Company or a Partnership firm or a Limited Liability Partnership.

You have to follow all the normal procedures for registration of any business like obtaining certificate of Incorporation/Partnership registration, PAN and other required compliance.

2. Register with Startup India

Then the business must be registered as a startup. The entire process is simple and online. All you need to do is log on to the Startup India website and fill up the form with details of your business and upload certain documents.

Q6) How can I apply for Company’s name in India?

Ans: Applying for Company’s name is an easy two step process:

Selection of a suitable name:

Select, in order of preference, at least one suitable name upto a maximum of six names, indicative of the main objects of the company.

Ensure that the name does not resemble the name of any other already registered company and also does not violate the provisions of emblems and names (Prevention of Improper Use Act, 1950) by availing the services of checking name availability on the portal.

Application to concerned ROC:

Apply to the concerned RoC to ascertain the availability of name in eForm1 A by logging in to the portal. A fee of Rs. 500/- has to be paid alongside and the digital signature of the applicant proposing the company has to be attached in the form. If proposed name is not available, the user has to apply for a fresh name on the same application.

Q7) What are the documents required for company registration?

Ans: You need the following documents to register your Company.

1. Directors & Shareholders Documents
2. Passport size photograph
3. PAN Card copy (mandatory)
4. Address Proof (Any one of the below)
   1. Passport
   2. Aadhar Card
   3. Driving License
   4. Voter ID
5. Residential Proof (Any one of the below)
   1. Bank Statement
   2. Electricity Bill
   3. Telephone Bill
   4. Mobile Bill
6. Registered Office Address Proof Documents
7. Office Property Ownership/Rental documents
8. Address Proof of Registered Office Premises

Once you have these documents you are ready to roll your sleeves and get ready to be incorporated.

Q8) What is MOA and AOA?

Ans: MOA stands for Memorandum of Association whereas AOA means Articles of Association. Both these documents act as an important source of information for various shareholders and other stakeholders associated with a Company.

MOA reveals the name, aims, objectives, registered office address, clause regarding limited liability, minimum paid up capital and share capital of the Company. In short, it explains the relationship of a Company with the outside world.

AOAs are the necessary documents to be submitted when the company is incorporated with the Registrar of Companies (ROC). When AOAs are in conjunction with the MOA, they are called the Constitution of the Company.

Q9) What is DSC?

Ans: DSC stands for Digital Signature certificate. DSC is the digital equivalence of physical papers or certificates. It is needed to file the form electronically with the concerned department. For the purpose of Company Registration of a private company, DSC for one of the Directors is required.

Q10) What is the Directors Identification Number (DIN)?

Ans: DIN, Directors Identification Number, is actually an identification number issued to a Director or a prospective Director of a Company by the Ministry of Corporate Affairs, Government of India. The concept of DIN was introduced for the first time when Sections 266A and 266G were inserted in Companies Act.

To obtain a DIN, one needs to make an online application to the Ministry of Corporate Affairs and submit the required documents related to Identity and Address Proof. Once the Ministry verifies these documents, the DIN will be allotted to the person

Q11) What is a DPIN?

Ans: The DPIN (Designated Partner Identification Number) used for identifying a designated partner in a Limited Liability Partnership (LLP) firm, is equivalent to the DIN (Director Identification Number) of a director of a private or public limited company. Both of these identifying numbers are issued by the Ministry of Corporate Affairs (MCA), Govt. of India.

Q12) How do I check whether my company is registered or not?

Ans: Following the below given steps, you can check the status of the company registration.

Step 1: Go to the MCA website.

Step 2: Go to ‘MCA Services’ tab. In the drop-down click on ‘View Company/LLP Master Data’.

Step 3: Enter the companies CIN. Enter the captcha code. Click on ‘Submit’.

Now you will be able to view the exact status of your registration process.

Q13) What are the benefits of company formation in India?

Ans: Let’s see how Company formation puts you at an advantageous position.

1. It protects you from personal liability for business risks and losses.
2. Makes you look serious and attracts more customers.
3. Creates better image and credibility in the market.
4. Easier to get bank credit and investment from investors.
5. Creates faith in employees and easy to attract talented manpower.
6. It is very convenient to exit or sell the business, due to less documentation and cost.

Q14) Whether company registration in India is completely online? Do I need to submit my papers anywhere physically?

Ans: Yes, Company Registration process in India is completely online.Today, company registration and other regulatory filings are paperless; documents are filed electronically through the MCA website and is processed at the Central Registration Centre (CRC), a dedicated backoffice for Company and LLP Registration process.

Upon completing all registration formalities, the Registrar of Companies’ issues a digitally signed Certificate of Incorporation (COI). Electronic certificates issued by the ministry can be verified by all stakeholders on the MCA website itself.

Q15) Is it mandatory for a company to keep its documents, records, registers, minutes, etc. in electronic form?

Ans: Yes, Rule 27 of Companies (Management & Administration) Rules 2014 says that A Listed Company or a Company having more than 1000 Shareholders shall maintain Records in electronic Format. However all the other Companies are required to maintain statutory records in the form of registers, minutes etc. throughout its life.

Q17) What is authorized Capital and what should be the minimum authorized capital for registering my company?

Ans: When you register a Private Limited Company, the promoters of your Company need to decide on the amount of authorised capital and the share value they will get in return if they invest in your Company.

Authorised Capital or Registered Capital is the maximum ceiling limit of the capital up to which a Company can issue shares and collect money from its shareholders. The authorised capital can also be enhanced by passing a resolution at a meeting of the shareholders.

The minimum Authorised Capital of a Private Limited Company is Rs. 1 lakh and the Ministry of Corporate Affairs charges an amount of Rs 5,000/- as fee for allotting this minimum authorised capital.

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