Private Company TYPES OF Public COMPANIES Company Section 8 company
• A COMPANY:- • having minimum paid-up share capital of Rs. one lakh What is Private • restricts the right to transfer its shares; • Maximum Shareholders should not be more Limited Company? than 200 • Prohibits any invitation to the public to subscribe for any securities of the company • A COMPANY:- • Which is not a Private Company • Has a minimum paid up share capital of Rs. What is Public five lakhs. • Who’s name ends with the word “ Limited” Limited Company?
A company may be formed by seven or two or more more persons, persons, as a as a public Private Company Company It may either be a :- • A company limited by shares, or • A company limited by guarantee, or • An unlimited company
What is DIN? • It is a 8 Digit Unique Identification Number for Directors • Every individual intending to be appointed as director of a company shall make an application for allotment of DIN to How to apply for it? Central Government • Application shall be made in e- form DIR 3 by using DSC(Digital signature certificate) of applicant • Proof of identity :- • In case of Indian National- PAN CARD is must • In case of Foreign National- PASSPORT is must What documents required • Proof of residence to furnish with e-form? • Copy of verification duly attested by authorized person • Scanned high resolution recent passport size photograph of the applicant • The government fees for filing form for allotment of DIN is Rs. Fees 500/- per applicant
File an From the date application for • Private Limited of application reservation of On approval name To Registrar in E- Company the names Form INC 1 gets reserved • Public Limited for a period Company of 60 (Sixty) days Application fee is Rs. 1000/- Note:- The proposed name shall not be identical with or resemble too nearly to the name of an existing company registered under this Act or any previous company law, undesirable in the opinion of the Central Government , constitute an offence under any law for the time being in force.
File form DIR-12 File form INC 22 along File form INC- 7 (particulars of with reg. add. proof (with Directors) supporting If registered office is documents) permanent On approval of name Within 60 days Registrar
Memorandum and Articles of Association of the company duly signed by the subscribers of the company and A declaration by an Advocate, a Chartered Accountant, Cost Accountant or Company Secretary in practice {shall be in form INC.8} and An affidavit from each of the subscribers to the memorandum and from persons named as the first directors {shall be in form INC.9} and The address for correspondence in case permanent registered office is not established Particulars of Subscribers to the memorandum such as name including surname and recent passport size photograph affixed and scan the same with MOA and AOA, residential address, nationality, etc. along with the proof of identity. {shall be in form INC 10} and Particulars of First Directors as mentioned in Articles of Association along with Proof of Identity {shall be file in form DIR-12 } and Particulars of the interest of persons mentioned in Articles as First Directors of the company in other firms or body corporate along with their consent to act as Directors of the company {shall be file in form DIR- 12}
Particulars of each person mentioned in the articles as first director of the company and his interest in other firms or body corporate Consent to act as director
Registered office In case if company furnished Temporary Temporary Permanent Address as Address of Correspondence at the time of filing Incorporation Form INC 7 at the time within 30 days of Incorporation of incorporation . (along with INC 7) File form INC 22 along with reg. add. proof Attachments (any of the following):- • Any utility bill which shall not be older than 2 months • the authorization from the owner or authorized occupant of the premises along with proof of ownership • Notarized copy of lease or rent agreement in the name of the company not older than 1 month • The registered document of the title of the premises of the registered office in the name of the company
Registrar On receipt of E - form INC-7 , E - form DIR12 , E - form INC 22 (if required) Issues Certificate of Incorporation in Form INC 11 and allots Corporate Identity Number
Private Limited Company Public Limited Company (having Share capital) (having Share capital) cannot commence any business or exercise any borrowing powers Until:- A declaration in e- form INC 21 within 180 days of incorporation File with verification of Registrar its registered office in e- form INC 22
If any person furnishes any false or incorrect particulars of any information or suppresses any material information, of which he is aware in any of the documents filed with the Registrar in relation to the registration of a company or at any time after incorporation it is proved that false documents etc been filed, the promoter, the first Director and the person making declaration for incorporation shall be:- punishable with imprisonment for a term which shall not be less than 6 months but which may extend to 10 years and shall also be liable to fine which shall not be less than the amount involved in the fraud, but which may extend to three times the amount involved in the fraud.
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