Company Registration

Overview of Company Registration

India has been one of the largest and fastest growing economies in the world. Once tauted as an emerging economy, now it holds the position among the financial superpowers of the world. This has attracted domestic as well as a foreign investment towards India. Many business promoters are willing to start a business in our country through Company Registration. As per the rules of the Companies Act, all new entities willing to work as a company in India needs to get a registration certificate from the Registrar of Companies (RoC). The registration process can be made hassle-free by taking assistance from the efficient and knowledgeable team of Muds. In the following sections, we have illustrated the process of registration with details regarding documents required and compliance regulations to be followed.

Company Registration in India is a complex process. One might need assistance from legal consultants to understand the complete process of registration. Let us understand in the following sections how to register a company in India in easy steps.

Private Company Registration

Step 1: Obtaining Digital Signature Certificate (DSC)

The process of private limited company registration is initiated by getting digital signature certificates for all the directors of the applicant firm.  Getting the DSC is essential as the directors need to sign various documents digitally during the registration process of Private Limited Company.

Step 2: Obtaining DIN

This step involves getting Director Identification Numbers (DINs) for all the directors. Once DIN is activated for directors then they don’t need to apply for it again. It is valid for directorship in any firm.

Step 3: Name Availability Check

The firm must choose a unique name for it. The name availability should be checked on the MCA’s portal. Only a unique name should be picked for the company after verification from the portal for registration.

Step 4: Form SPICE INC-32

The online application for registration is made through the SPICE INC-32 form. The documents for registration are uploaded online along with the registration form. The copy of original documents along with the registration form is also sent to the regional office of RoC.

Step 5: MoA and AoA

Memorandum of Association (MoA) and Articles of Association (AoA) are two essential documents containing objectives and road map of company’s growth plan for next 3 years. These documents are submitted with the application form during registration.

Step 6: PAN and TAN Application

Submission of PAN number and TAN registered in the company’s name.

LLP Registration

• Even for LLP registration, a company should get the DSC and DIN for its designated partners.
• The LLP-RUN portal has a form that needs to be filed to reserve a name for the proposed LLP. The name registration process is completed by the Central Registration Centre after thorough research conducted to assure name’s uniqueness. The applicant can check the name’s uniqueness on their own by using MCA’s portal. The name reservation form should be filed with the requisite fee for name registration.
• The form used for LLP registration is called FiLLiP(Form for incorporation of Limited Liability Partnership). This needs to be filed with the regional RoC as per the location of the LLP. The form also has the meaning to apply to DPIN (Designated Partner Identification Number) which is similar to the DIN.
• Next step includes filing of Limited Liability Partnership agreement on the MCA’s portal through Form 3 under 30 days of incorporation.

Public Company Registration

Following are the steps for registration of Public Company

• To register a public company,  a minimum of 3 directors with 7 shareholders are needed. The said shareholders can be individual investors, private companies, or LLPs. However, directorship of the firm can only be held by an individual.
• Even for these entities, all directors need to obtain their DSCs and DINs.
• The company must have a registered location to operate from. Also, for this type of entity, there is no requirement to have any necessary authorised capital for company incorporation. The fee for incorporation of a company will vary with the declared authorised capital of the company.
• The company should also file for name approval with a unique name. The name should always contain ‘Limited’ at its end. The name should be as per the guidelines of the MCA. The name application must be filed on the RUN portal of the MCA.
• The Company Name documents like MoA, AoA, and others must be submitted to the RoC office.

Company Registration and Certificate of Incorporation

The RoC registers a company after thorough verification of documents submitted by it. It verifies that the registration application and the name of the company is as per guidelines of the Companies Act, 2013 or not. Post satisfactory evaluation, the company gets a Corporate Identification Number (CIN) with Certificate of Incorporation (CoI). The certification is also issued in digital form. Post incorporation, the companies should meet all the compliance norms as per the MCA’s standards.