There are following options
available for Company Registration in India & major steps involved in
Registration:
1. Private
Limited Company: As per section 2(68) the
Companies Act, 2013, A “Private Company" means a company which has a
minimum paid up capital of one lac rupees or such higher paid up capital as may
be prescribed, and by its articles,-
(a) restricts the right to transfer its
shares, if any;
(b) except in case of One Person Company, limits the number of its members to two hundred but not including-
(i)
persons who are in the employment of the company, and
(ii)
persons who, having been formerly in the employment of the company, were
members of the company while in that employment and have continued to be
members after the employment ceased; and
(c) prohibits any invitation to the public
to subscribe for any securities of the company:
Provided that where two or more persons hold one or
more shares, in a company jointly, they shall, for the purposes of this
definition, be treated as a single member;
Steps for
formation of Company in India:
·
DIN
Application
·
Acquire
& Register DSC
·
Name
Availability
·
Registration
of Company
2. Public
Limited Company: "Public
company"
is defined in Section 2(71) of the Act (2013) and
it means a company which —
a. is not a
private company;
b. has a
minimum paid-up capital of five lakh rupees or such higher paid-up capital, as
may be prescribed;
c. is a private
company which is a subsidiary of a company which is not a private company.
Apart from process of
incorporation of Private Company mentioned above, after registering the
Company, one have to apply for the “Certificate of commencement of business” to
the Registrar of Companies.
3. Part
IX Company: Part
IX of the Companies Act, 1956 provides an opportunity to an association of
seven or more persons formed in pursuance of any other law enforce in India to
get itself registered under the Act as a company limited by shares, or as a
company limited by guarantee or as an unlimited company. Even a partnership
firm having seven or more partners with a permanent share capital divided into
shares of a fixed amount and duly constituted according to the provisions of
the Indian Partnership Act, 1932 can be registered as a company under this
part.
4. Section
25 Company: A
Section 25 Company under the Companies Act 1956 is a voluntary association of
people for promoting commerce, arts, science, religion, charity; wherein no
profits or other income is distributed to its members by way of dividend and
such company is not required to suffix the term “limited” or “Private limited”
to its name.
5. Foreign
Company setting up Place of business in India: "Foreign company" is defined in section 591 of
the Act (1956) and it means a company which
a. is
incorporated outside India and
b. has
established a place of business within India.
A Foreign Company can set up
place of business in India. There is no need to take the DIN of Director/s and
of Authorized Person from the Foreign Company. The applicant can be any person,
either director or any other person, authorized by Foreign Company.
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