What are the documents required for private limited company?

private company limited

The Companies Act, 2013 makes it mandatory for every private company in India to be registered in order to commence its business. The registration or incorporation of a private limited company is the process by which an entity comprising of 7 or more persons be registered by the Registrar of Companies. The registration of the company shall be done according to the procedure laid down in the Companies Act. Following is the list of documents required for private limited company registration.

Documents required by the Director-

The first step of the registration process is to obtain Director Identification Number (DIN). To obtain DIN, the following documents are required by the director of the private limited company.

1. An identity proof (pan card) is required. The identity proof must include the name of the applicant, applicant’s father’s name, his date of birth etc.
2. Foreign national applicants are required to submit a copy of their passport as an identity proof.
3. The directors of the private limited company are required to submit proof of their residence. Following documents can be submitted as proof of residence:
● Passport
● Voter Identity Card
● Driving License
● Ration card
● Electricity Bill
● Telephone Bill
● Bank Account Statement

All the above mentioned documents required for private limited company registration shall be in the name of the applicant and not older than one month.

4. A high resolution passport size photograph of the applicant in JPEG format must be submitted.

The applicant shall-self attest the copies of the aforementioned documents. The copies shall also be scanned and sent to the concerned authority via email.

Memorandum of Association and Articles of Association

The Companies Act requires formation of the Memorandum of Association and Articles of Association of the private limited company that is to be registered. The Memorandum and articles of association should be duly signed by all the subscribers of the memorandum and shall include their name, address, description and occupation.

Affidavit

An affidavit from each director of the company and its subscriber must be submitted to the Registrar. The affidavit shall state that the director or subscriber

1. Has not been convicted of any offence relating to the promotion, formation or management of any previous company.
2. Hasn’t been found guilty of any fraud or misfeasance or breach of duty to any company under the Companies Act for the last 5 years.
3. That all the documents filed with the Registrar are true and correct to the best belief and knowledge of the person signing the affidavit.

Declaration by a professional

Registration of a private limited company also requires submission of a declaration in the prescribed format by an advocate, chartered accountant or company secretary in practice. It shall state that all the requirements and rules for the registration of the company have been complied with. The declaration shall also be signed by the director, manager or secretary of the company.

Correspondence address for company’s office

At the time of applying for registration of a private limited company, a correspondence address of the company should be submitted till the time the registered office is established.

Particulars of subscribers

Each subscriber to the coma shall submit such documents that contains his particulars such as name, surname, residential address, nationality, date of birth, place of birth, education qualification, email id, and phone number.

The subscriber is also required to submit
1. Identity proof
It is compulsory to submit PAN card as identity proof. Along with this, any one of the following documents can be submitted:
● Voter’s identity card
● Passport copy
● Driving License copy
● Unique Identification Number (UIN)

2. Proof of Residence
3. Proof of Nationality
4. Signature and passport size photograph
5. If the subscriber is a body corporate, then the name of the body corporate, registered office address and Corporate Identity Number should be submitted.

All the above-mentioned documents are required for private limited company registration in India. It should be attached to the SPICe form and submitted to the Registrar of Companies.

How to register a business name?

How to register a business name

One of the most essential steps during the incorporation of a private limited company is the registration of business name. Every company that wishes to register itself under the Companies Act, 2013 shall propose the name of the company to the Registrar along with the application and the prescribed fee. The registered name of the company or business is stated in the Memorandum of Association.

Steps to register a business name

1. Check availability- the first step of registration of business name requires checking the availability of the name of the company. The proposed name shall not be similar to that of any other company already in existence. A business or company can propose 6 names to the Registrar and it shall register the name which is deemed to be fit and is not in violation of the provisions of the Companies Act.

2. Application for registration- once the availability of the proposed name of the business is checked, the company shall make an application in the prescribed manner, along with the required fee to the Registrar for the reservation of the name of the company as proposed in the application. Similarly, an application can also be made to the registrar for alteration of the existing business name. Rule 9 of the Companies (incorporation) Rules 2014 states that an application for registration of business name is to be made in Form No. INC.1 along with the required fee.

3. Reservation of Name- once the application for registration of business name is made to the registrar, it may look into the documents and information furnished along with the application and reserve the name of the business or company for sixty days from the date of such application.

Restrictions for registration of business name

Registration of a business name is subjected to certain restrictions laid down in the Companies Act, 2013 and Companies (incorporation) Rules, 2014. Name of a company can not be registered in the following cases:

1. If the name of the company to be registered is identical with or resembles that of an existing company registered under the Companies Act.
2. If the use of such name by the company will constitute an offence under any law for the time being.
3. If the Central Government is of the opinion that the name of the company is undesirable, it will not e registered.
4. A company shall also not register a name which is likely to give the impression that it is connected with the Government of India.

Conclusion

To register its name, a company or business shall furnish correct information. If the information is found to be incorrect, the Registrar of Companies may cancel the reserved name and the person making the application will be liable to pay a fine of Rs. 1 lakh.

How to incorporate OPC company?

As per the Companies Act, 2013 a one person company (OPC) is a private entity formed by only one person. It constitutes of a single person only. OPC incorporation can be done by complying with the registration requirements as mentioned in the Act. A Memorandum of Association should be prepared which shall also contain the name of the person who will overtake the business if the subscriber dies or is unable to enter into an agreement.

OPC incorporation can take place via two ways. The first way is incorporation through SPICe without filing RUN and the other way is incorporation through SPICe with RUN.

1. Without RUN- Reserving Unique Names (RUN) is a unique web service introduced by the Ministry of Corporate Affairs to ease the process of reserving names of companies. With the help of RUN, the members of the company can reserve the companies name or alter its name. If an OPC is not registered on RUN, it can be incorporated through the normal procedure of incorporation of any company in India under the Companies Act, 2013.

Without RUN, OPC incorporation can be done by following the below given steps and filing the SPICe form.

● Allotment of a Director Identification Number (DIN).
● Reservation of Company’s name
● Drafting the Memorandum of Association and Articles of Association.
● Certificate of OPC incorporation.
● Allotment of PAN number.

2. With RUN- If an OPC has already filed for RUN, its members are not required to register the name of the OPC separately. After the name of the OPC is approved, the subscriber of the company can file the SPICe form within 20 days from the date of RUN.

After the form is filed, the Registrar of Companies examines all the documents of the company, its Memorandum and Articles. If the incorporation is not in violation of the Companies Act, the Registrar may approve the incorporation of OPC and issue a Certificate of Incorporation.

The Rule 3 of Companies (Incorporation) Rules, 2014 states the following rules for OPC incorporation:

● OPC shall be formed by a natural person. He should be a citizen of India and should be residing in India.
● A nominee for the OPC should be mentioned in the Memorandum of the Company.
● No two OPC shall have the same subscriber or nominee.
● A minor cannot become a member of an OPC or a nominee. Also, he cannot hold share with beneficial interest.
● An OPC cannot indulge in Non-Banking Investment Activities including investment in securities of any body corporates.
● An OPC cannot voluntarily convert itself into any other company before the expiration of two years of its incorporation except in certain circumstances.

The process for incorporation of companies in India under the Companies Act is similar for all kinds of companies. However, it is subjected to certain restrictions.

List of Documents required for incorporation of private limited companies

The Companies Act, 2013 lays down the procedure for the incorporation of a private limited company in India. It is the legal process for the formation or registration of a company or a corporate entity. Registration of a company involves certain steps. An application for incorporation needs ro be filed addressing the Registrar of Companies (RoC). The application is accompanied by a list of documents required for incorporation of private limited companies.

List of Documents

Documents submitted by the Director-

To incorporate a private limited company in India, the director of the company must obtain a Director Identification Number (DIN) for which the following documents are required.

1. An identity proof mainly pan card is required. It includes the name of the applicant, father’s name, date of birth etc.

2. Applicants who are Foreign nationals must submit a copy of their passport as an identity proof.

3. The directors should submit a proof of residence. It can include the following:

● Passport
● Voter Identity Card
● Driving License
● Ration card
● Electricity Bill
● Telephone Bill
● Bank Account Statement

All the above mentioned documents shall be in the name of the applicant and not older than one month.

4.The applicant needs to submit a high resolution passport size photograph in JPEG format.

The copies of the required documents should be self-attested by the applicant, scanned and sent across via email to the concerned authority.

Memorandum of Association and Articles of Association

The company to be incorporated must submit its Memorandum of Association and Articles of Association to the registrar. The Memorandum and articles of association should be duly signed by all the subscribers of the memorandum. It shall also include each subscriber’s name, address, description and occupation.

Affidavit

Each director of the company and its subscriber is required to submit an affidavit stating that

1. He has not been convicted of any offence relating to the promotion, formation or management of any company.
2. He hasn’t been found guilty of any fraud or misfeasance or breach of duty to any company under the Companies Act for the last 5 years.
3. All the documents filed with the Registrar for the incorporation of the company contain correct information and is true to the best of his knowledge and belief.

Declaration by a professional

List of documents required for incorporation of private limited companies also includes a declaration in the prescribed format by an advocate, chartered accountant or company secretary in practice stating and by the director, manager or secretary of the company that all the requirements and rules for the registration of the company have been complied with.

Correspondence address for company’s office

It is required to submit a correspondence address of the company till the time the registered office is established.

Particulars of subscribers

Particulars of each subscriber including his name, surname, residential address, nationality, date of birth, place of birth, education qualification, email id, phone number are required.

The subscriber shall also submit
1. Identity proof
It is compulsory to submit PAN card as identity proof. Along with this, any one of the following documents can be submitted:

● Voter’s identity card
● Passport copy
● Driving License copy
● Unique Identification Number (UIN)

2. Proof of Residence
3. Proof of Nationality
4. Signature and passport size photograph
5. If the subscriber is a body corporate, then the name of the body corporate, registered office address and Corporate Identity Number should be submitted.

These are the list of documents required for incorporation of a private limited company in India. All the above-mentioned documents should be attached to the SPICe form.

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