With the introduction of MCA 21 the procedure for company registration including private limited company registration has been made easy, gone are the days when physical bulks of documents were required to be carried to the office of Registrar of Companies (ROC) in order to carry out the procedure for registration of companies. Now there is no need to carry such documents physically, even now a days procedure for company registration including private limited company registration is made online, now it is matter of some clicks and wait of few days that your company stands registered in the records of MCA.
In this write- up we will understand the procedure for private limited company registration an\d will se how it works, so let’s get started.
Before we dive deep into the procedure of registration it is important to know the meaning of private limited company.
Private Limited Company Registration
As per section 2(68) of companies Act, 2013 private company means a company which has following features:
- A company which has [aid up share capital as it deem fit, now the requirement of having minimum share capital of Rs. 1 lakh has been done away.
- Which through its articles restricts the rights to transfer the shares of the company.
- Except in case of OPC limits the number of members to 200 provided that the present and past employees of the company which continues to be the shareholders of the company shall not be counted for the purpose of limit of 200.
- It prohibits the invitation to the public for subscription of the securities.
- And a private company which has the liability of its members limited to the extent of share capital held by them or the guarantee amount undertaken by them is called private limited company.
Minimum requirements for registration of Private Limited Company:
- Minimum number of two persons including at least one individual who will be subscribers to MOA.
- Minimum 2 and maximum 15 directors.
- Any amount of share capital of the company.
- An office which can be considered as the registered office of the company in the records of MCA.
- A name by which company can be registered.
- Details regarding the objects of the company for which it is getting registered.
- Documents relating to the registered office of the company and promoters.
What documents are required to be taken for the registration of Private Limited Company?
For registration of private limited company following documents are required to be taken from the promoters:
- Self attested copy of PAN card and other identity proofs of the promoters.
- Proof of address of the promoters such as utility bills and bank statement, however it is to be noted that these documents should be self-attested and shall not be older than 2 months.
- Proof of registered office of the company such as utility bill and rent Agreement.
- Details regarding the objects of the company and the share capital of the company.
- Details regarding the educational qualification and place of birth of promoters.
- Passport size photograph of the promoters.
- E-mail ID and phone number of promoters.
- DIN of promoters if any.
Forms used for registration of Private Limited Company:
- SPICe Plus Part A for reservation of name.
- SPICe Plus Part B for incorporation of company.
- SPICe MOA or e-form INC-33
- SPICe AOA or e-form INC-34
- AGILE-PRO-S used for five services:
- Obtaining GSTIN of the company
- Obtaining PAN and TAN of the company
- Opening of bank account
- ESIC registration
- Professional tax registration
- INC-9, a declaration by the subscribers and first directors of the company.
Procedure for registration of private limited company
The simplified procedure for registration of private limited company registration is as follows:
|1.||Apply for Digital signature certificate of:Individual subscribersOne of the first directors of the company||To digitally sign the SPICe plus forms ( SPICe part A, SPICe part B, AGILE-PRO-S, INC-33, INC-34, INC-9|
|2.||Apply for DIN of directors in form DIR-3|
Note: DIN up to 3 directors can be applied in SPICe plus form itself
|As per section 152 DIN is mandatory requirement to get appointed as a Director.|
Director is deemed to be disqualified as per section 164(1) if he has not been allotted DIN.
|3.||Check name availability on MCA portal and Public Search of Trademarks||To ensure that proposed names do not already exist|
|4.||Application of name reservation:It can be made by filing SPICe PART-A separately orBy filing name reservation application along with the incorporation application form itself in SPICe+||A name is normally reserved for 20 days from the Name Approval Letter which can be extended further to for a period of 40/ 60 days from the date on which name got approved.|
|5.||Preparation of SPICe Part-B for incorporation of the company:|
It consists of SPICe part-B, AGILE-PRO-S, INC-9
Rest is self explanatory in the forms
|To make application to concerned ROC for following purposes:Incorporation of Co.Application for DIN for 3 directorsApplication for GSTIN, ESIC registration, EPFO registration, professional tax registration, opening of Bank accountShops and establishment registration|
|5.||Prepare MOA and AOA of the company being part of SPICe form:The MOA and AOA of the company are to be filed in form INC-33(SPICe MOA) and INC-34 (SPICe AOA) respectively.For MOA and AOA tables are given in the Companies Act, 2013 select the tables as applicable on the Company, rest is self-explanatory.MOA and AOA are to be should have one witness. In case of section 8 company and company with more than 7 subscribers, scanned copy of printed MOA and AOA are attached including subscribers of foreign cases.||MOA and AOA are the Charter Documents of the company,|
MOA describes the purpose for which company got incorporated in the form of Object clause,
And AOA are the byelaws of the company which describes the internal management of the company to carry out those stated objects.
|6.||Following attachments are to be made to SPICe form:Consent to act as director in DIR-2,Certificate of compliance with section 164(2) in DIR-8INC-8 by Practicing ProfessionalID and Address Proof of subscribers and DirectorsRegistered office address proof along with utility bill (not older than 2 months)||These attachments are mandatory to be attached in order to avoid any re submissions on the application.|
|8.||Payment of stamp duty and form filing fees either through online payment or though challan||Stamp duty depends upon rates prevailing in the state where registered office of the company is situated and authorized share capital of the company|
|9.||PAN and TAN of the company (Integrated in SPIC+)||To register it for income tax purposes|
|10.||Opening of bank account||To receive subscription money from the subscribers to MOA and to carry on business transaction once commencement of business (form- INC 20A) is filed by the company|
Thank you for giving your valuable time for r3eading this write up, we hope that it helps, if still you have any queries regarding the private limited company registration in India then you can connect to our team at firstname.lastname@example.org or call us at 9988424211.