WHAT IS A PRIVATE COMPANY ?
‘Private company’ means a company having a minimum paid-up share capital as may be prescribed, and which by its articles, —
(i) restricts the right to transfer its shares;
(ii) Except in case of One Person Company, limits the number of its members to two hundred:
Provided that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this clause, be treated as a single member:
Provided further that—
(A) Persons who are in the employment of the company; and
(B) Persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased, shall not be included in the number of members; and
(iii) prohibits any invitation to the public to subscribe for any securities of the company;
INCORPORATION: Section 7 and The Companies (Incorporation) Rules, 2014
The Companies Act, 2013 lay down the rules for the incorporation of Companies under Chapter II of the Act namely, The Companies (Incorporation) Rules, 2014.
STEPS TO INCORPORATE A PRIVATE COMPANY:
1- Ascertain the object and the main business activity for which the company is to be incorporated.
2- Apply for the Reservation of Name for the Proposed Company (Spice+ Part A). (Note: You can also submit Spice+ Part A form separately or along with Spice+ Part B).
3- The name after approval shall be reserved for a period of twenty days. You can also apply for further extension of name reservation [Rule 9A of the Companies (Incorporation) Rules] by paying extra fees as follows:
By 40 Days from the date of approval – Rs. 1,000 before expiry of twenty days;
By 60 Days from the date of approval – Rs. 2,000 before expiry of forty days referred above;
By 60 Days from the date of approval – Rs. 3,000 before expiry of twenty days.
4- Ascertain the Number of Subscribers, First Directors or Subscribers cum First Directors.
5- Prepare all the necessary documents such as Form DIR 2, Form DIR 8 (if any of the Director is Interested in any other existing Company/LLP), NOC, Rent Agreement (in case of hired premises), etc.
6- Collect all the required documents and information from the client.
7- Apply for the DSC of all Subscribers.
8- Fill in all the details in the Web Form SPICe+ Part B, Form AGILE Pro, Form E-AOA, Form EMOA, Form INC 9, attach all the required attachments.
9- Check all the information again, affix the DSCs and submit all the forms as linked forms.
DOCUMENTS REQUIRED FOR INCOPRATION OF A PRIVATE COMPANY:
1- Ascertain Authorized Capital and Paid Up Capital of the Company and Shareholding Pattern of the Promoters.
2- Email Id and Phone No. for the Company.
3- Address of Registered Office of Company.
4- Copy of any Utility bill of Registered Office. (not older than two months)
5- PAN Card and Aadhaar Card of all the First Directors and Subscribers.
6- Personal Details of all of them: Phone No., Email Id, Educational Qualification, Place of Birth, Period of stay at current address.
7- For Identity Proof: Voter’s ID/Driver’s License/Passport of all.
8- For Residential Proof: Latest Bank Statement /Utility Bill (not older than two months) of all.
9- Passport-sized photographs of all.
10- In case of rented property, a scanned copy of Rent agreement along with NOC duly signed from the owner.
11- In case of owned Property, a copy of Property Papers.
12- Name of Preferred Bank for opening of Bank Account. (You can choose from the following: Punjab National Bank, ICICI Bank, Kotak Mahindra Bank, Bank of Baroda, HDFC Bank, State Bank of India, Union Bank, Axis Bank)
13- Name of the Authorized Signatory.
14- Digital Signature Certificates of all.
Note: Address Proofs and Identity Proofs are not required in case the proposed directors already have DIN.
FORMATS ENCLOSED:
*****
Form DIR-2
Consent to act as a director of a company
[Pursuant to section 152(5) and rule 8 of Companies (Appointment and Qualification of Directors) Rules, 2014]
To
NAME OF THE COMPANY,
Reg. Office
Subject: Consent to act as a director.
I, NAME OF DIRECTOR, hereby give my consent to act as director of XYZ PRIVATE LIMITED, pursuant to sub-section (5) of section 152 of the Companies Act, 2013 and certify that I am not disqualified to become a director under the Companies Act, 2013.
1. Director Identification Number (DIN):
2. Name (in full):
3. Father’s Name (in full):
4. Address:
5. E-mail id:
6. Mobile no.:
7. Income-tax PAN. :
8. Occupation:
9. Date of birth:
10. Nationality: INDIAN
11. No. of companies in which I am already a Director and out of such companies the names of the companies in which I am a Managing Director, Chief Executive Officer, Whole time Director, Secretary, Chief Financial Officer, Manager.
| NAME | CIN | INTEREST |
12. Particulars of membership No. and Certificate of practice No. if the applicant is a member of any professional Institute. Specifically state NIL if none.
DECLARATION
I declare that I have not been convicted of any offence in connection with the promotion, formation or management of any company or LLP and have not been found guilty of any fraud or misfeasance or of any breach of duty to any company under this Act or any previous company law in the last five years. I further declare that if appointed my total directorship in all the companies shall not exceed the prescribed number of companies in which a person can be appointed as a Director.
Signature:
Designation:
Date:
Place:
*****
FORM ‘DIR-8’
Intimation by Director
[Pursuant to Section 164(2) and Rule 14(1) of Companies (Appointment and Qualification of Directors) Rules, 2014]
Registration No. of Company : PROPOSED
Nominal Capital : Nil
Paid-up Capital : Nil
Name of Company :
Address of its Registered Office :
To
The Board of Directors
NAME OF THE COMPANY
I, NAME OF THE DIRECTOR, son of ——–, resident of ———-, Proposed Director in the Company hereby give notice that I am a director in the following companies:-
| S.NO | NAME OF COMPANY/LLP NAME | CIN/LLPIN | INTEREST |
I further confirm that I have not incurred disqualification under section 164(2) of the Companies Act, 2013 in any of the above companies, in the previous financial year, and that I, at present, stand free from any disqualification from being a director.
Signature: ………………………..
Name:
DIN:
Date:
Place:
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