Here are the steps and documentation involved while registering your company on the website of the Ministry of Corporate Affairs.
In a bid to ensure ease of doing business, the Ministry of Corporate Affairs (MCA) has made it easy to check company registration online, the DSC of each subscriber is required. The subscribers and witnesses are expected to affix their digital signatures to the e-MoA and e-AoA.
Company Registration With MCA
Before you do that, verify your company’s name availability. Additionally, the projected name of the organisation can likewise be held through the RUN web service. RUN (Reserve Unique Name) is simple to utilise web administration for booking a name for a new organisation or change of name for any current organisation. The applicant needs to apply through RUN for reservation of the proposed organisation name alongside payment of relevant charges, which at that point will be handled by the Central Registration Centre (CRC).
Once this is done, draft the MoA and the AoA. A Memorandum of Association (MoA) stands for the deed of the company. It is an officially authorized document prepared during the formation and registration process of a company to define its relationship with shareholders and it specifies the objectives for which the company has been formed.
An Article of Association (AoA) outlines the rules and regulations of the internal management of the company. It outlines the duties, rights, and powers of the management of the company. It is an officially authorised document prepared during the establishment and registration procedure of an organisation to characterise its association with investors and it determines the aims for which the firm has been built.
No longer do you stress about coming up with a company name. A list of available companies can be created using the Vakilsearch company name generator.
You are then required to fill out the SPICe form. SPICe Form (INC-32) deals with the single application for reservation of name, incorporation of a new company and/or application for allotment of DIN and/or application for PAN and TAN. This e-Form is accompanied by supporting documents including details of Directors & subscribers, MoA and AoA, etc.
Once the e-Form is processed and found complete, the company would be registered and CIN would be allocated. Also, DINs get issued to the proposed directors who do not have a valid DIN. Three directors are allowed to use this integrated form for filing applications for the allotment of DIN while incorporating a company. Moreover, PAN and TAN would get issued to the company.
In order to ensure that you are company ready, you need to check if all the t’s are crossed and the i’s are dotted, and that you comply with the rules and regulations put by the Ministry of Corporate Affairs. Non-compliance means hefty fines and new companies do not want to begin their corporate journey paying fines because they forget to meet certain rules and regulations. These compliances are especially important when you are involved with Foreign Direct Investment. Some of the critical factors while setting up a company include the following
- Having a PAN Card
- Having a proper company bank account: However, do note that banks have to be informed of incoming remittances from non-resident subscribers
- Regular company audits
- Applying for GST
- Acquiring an Import-Export licence
The Ministry of Corporate Affairs (MCA) is in charge of all records pertaining to private limited companies, one-person companies, public limited companies and limited liability partnerships. Information about all these entities are always available on the website of the MCA and can be easily accessed. The information, therefore, is publicly available. Let’s find out what is available.
MCA Master Data
To find data about a particular entity in the MCA Master Data, you must know its full or partial name. This will allow the MCA database to conduct the search. If it is able to find a result matching the name you have typed, it will present one or more names to you for you to choose from, along with their CIN number. If it isn’t able to, then it will say ‘No Records Found’. The link to the website can be accessed here.
The information it can return is this:
- Company Name
- RoC Code
- Registration Number
- Category & Subcategory of Company
- Class of Company
- Authorised Capital (Rs)
- Paid-up Capital (Rs)
- Number of Members (Applicable in case of a company without Share Capital)
- Date of Incorporation
- Registered Address
- Email Id
- Whether Listed or not
- Date of last AGM
- Date of Balance Sheet
- Company Status (for e-filing)
Charges on the Company
Simultaneously, it will also run a check to see if there are any charges against the company. This will tell you if the company has any creditors or lenders who have created a charge on the company, in case of non-payment of the loan. The MCA will give information on when the charge was created, who it was created by, the amount and the address of the charge holder.
Directors of the Company
The names of the directors will also appear, along with their Director Identification Number, contact details and the date of appointment.
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