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How to Incorporate a Company in India?

How to Incorporate a Company in India?

Step 1:- file SPICe+ directly on the MCA’s portal;

Step 2:- Apply for Name Reservation by filing Part A of the form SPICe+ and then file Part B or file Part A and Part B simultaneously, If the applicant is sure that the proposed Name will be approved by ROC.

Step 3:- After completing Part B of SPICe+ fill the linked form such as

  1. Agile-Pro
  2. e-MOA
  3. e-AOA

Step 4:- Once you will file SPICe+, Agile Pro,e-MOA,e-AOA, INC-9 will be automatically be generated on the MCA’S portal.

Step 5:- Then download all the above mentioned forms in a PDF form and attach digital signatures to it.

 Step 6:- Upload all the PDFs on the MCA’s website and pay the relevant fees.

Step7:- Roc will grant the certificate of Incorporation i.e. INC-11 and then your company will be Incorporated.

Now let us see what questions can arise in our Mind Regarding Company Incorporation.

What is SPICe+?

SPICe+ stands for Simplified Proforma for Incorporating Company electronically Plus. SPICe+ offers around 10 services by three Central Government Ministries and Departments (Ministry of Corporate Affairs, Ministry of Labour, and the Department of Revenue in the Ministry of Finance) and one State Government (Maharashtra). It is an integrated web-based form that is required to be filed from MCA’s website directly; hence it cannot be downloaded.SPICe+ is prepared according to the format of form INC-24.

The form SPICe+ replaces the existing SPICe form. All the new company incorporation has to be done by the online filing of the SPICe+ form. The other forms that need to be filed along with SPICe+ are AGILE-PRO, SPICe+AoA, and SPICe+MoA.

Which services are offered By SPICe+?

The new integrated web-based form offers the following services:

– Part A: Part A deals with Name Reservation

– Part B: Part B offers various services related to:-

  • Company Incorporation
  • Application for DIN
  • PAN Application
  • TAN Application
  • GSTIN Application(which is optional in Nature)
  • EPFO Registration
  • ESIC Registration
  • Opening of Bank Account for the Company
  • Profession Tax Registration (only for Maharashtra)

The SPICe+ form can be filed in 2 ways:-

  1. One can file both Part A and Part B simultaneously if he/she is sure shot that Name will be approved by the ROC.
  2. One can file Part A initially and then wait for the approval of ROC to Reserve the Name, and once the Name is approved then go for filing up of Part B.

Which documents are required to be attached along with SPICe+?

  • DIR-2-Consent of Director
  • Proof of office address
  • Copy of utility bills
  • The interest of first director(s) in  any other entities
  • Proof of identity as well as the residential address of the subscribers/Directors
  • Optional attachments (if any)
  • Attachments – Part A –Object clause of the Company

How can the company Reserve its Name?

According to Rule 9 of the Companies (Incorporation) Rules, 2014 company can Reserve its Name in 2 ways:-

  1. Where the Reservation of Name is being done for the purpose of Incorporation of a Company-we will be required to furnish the details in the form SPICe+ for the purpose of the same.
  2. Where the Reservation of Name is being done with intent to change the existing name of the company- we will be required to furnish the details in the form RUN for the purpose of the same

What are the other forms that we require for the incorporation of a company?

    1. e-MOA
    2. e-AOA
    3. AGILE-PRO
    4. INC-9
What is e-MOA?

It is the charter of a company, which defines the ambit of the operations and the business to be carried on by the company after its incorporation. MOA is one of the basic documents in the constitution of the company and it lays down the reasons for which the company was formed. Further, the company does not have any power to do any act with is not authorized expressly or impliedly by the MOA. Hence, MOA is a very important legal document for all companies. Ministry of Corporate Affairs has recently introduced eMOA which makes the process for framing the MOA of a company very easy. It is prepared according to the format of INC-33.

What is e-AOA?

e-AOA or electronic Articles of Association that is newly introduced by the MCA to simplify company registration in India. Articles of Association of a Company are subordinate to the Memorandum of Association of Company which lays down the rules and regulations for the company’s internal management. Hence, articles of association are regulations of the company binding on the company and on its shareholders. It is prepared according to format of INC-34.

What is AGILE-PRO?

AGILE stands for Application for Goods and services identification number, employees’ state Insurance corporation registration plus Employees’ provident fund organization registration. It is prepared according to the Format of INC-35.AGILE-PRO provides the services of:-

  • EPFO Registration
  • ESIC Registration
  • Opening of Bank Account for the Company
  • GSTIN Application(which is optional in Nature)
Which documents are required to be attached along with AGILE-PRO?
  • Proof of principal place of business
  • Proof of appointment of Authorised Signatory for GSTIN
    (Either of the documents– Letter of Authorisation/Copy of Resolution passed by BOD/
    Managing Committee and Acceptance Letter)
  • Proof of identity of Authorised Signatory for the opening of a bank account
  • Proof of address of Authorised Signatory for the opening of a bank account

 

Contact the Best Company Formation / Setup Branch Office in IndiaADR Law firm in Delhi today, LEGALLANDS LLP will help you with all the matters relating to FEMAFDIADRCorporate & CommercialFamily LawIPR, International Trade & TaxOther Advisory Services and Business Setup advisory in India and Abroad. Contact today at +91 11 46045777 or [email protected]

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