Lokesh.M
Before introduction of INC29, to incorporate a company requires 5 forms (DIR-3, INC-1, INC-7, DIR-12, INC-22) to be filled.
INC-29 (Integrated incorporation process) reduces burden of filling all the forms.
Compared to the old process, it has the potential to save you a lot of time, if properly implemented.
Requirements for incorporating company:
1. MOA & AOA should be as per schedule-I of Companies Act 2013.
2. Proof of Address & Proof of identity for all “subscribers”.
(For proof of identity: Voter Identity Card, Passport, Driving License & Aadhar card)
(For proof of address: Telephone bill, Electricity bill & Bank Statement)
3. INC-9 from all Subscriber’s
4. INC-10 from all subscribers.
Guidelines for incorporating company:
1. Select the type, class, category of proposed company within given options
2. If AOA & MOA is not as per Schedule- I then select “No” in 2(b) & 2(c).
3. Check the name availability of proposed company in MCA website.
4. If the proposed company has any trade mark, then application pending for registration under the Trade Marks Act shall be attached
5. Significance of abbreviated or coined word in the proposed name should be given.
For example: The proposed company name is PQR Agro private limited. Then you need write that P, Q, R are names of promotors, engaged in manufacture of agro products.
6. Enter number of first subscriber(s) to MOA and directors of the company
For example: If your proposed company have 5 Subscribers
[2 directors (Having Valid DIN) cum subscribers],
[3 subscribers other than directors]
Then the table should be filled as shown in picture.
7. Normally many of them misunderstood that they can apply PAN & TAN for company through this form. But you cannot apply because there is separate e-biz portal for applying PAN & TAN.
Mandatory Attachments:
1. MOA & AOA
2. Affidavit and declaration by first subscriber and directors (INC-9)
3. Proof of Identity & Proof of Address for all subscribers (Including directors).
4. INC-10.
Important points
- INC-9 should be notarized on a stamp paper.
- INC-10 should be attested from Bank Manager.
- Witness should be as per Rule 13(1) of Company Incorporation rules 2013.
- All subscribers’ details in AOA & MOA should be in hand written.
- Total number of shares taken should also be in hand written.
Your articles are excellent please send me all updates of company law at below mention email id.
there is typographical error. In point no. 2 proof of address should be read as proof of Identity and proof of identity should be read as proof of address.
Thks
I appreciate you for very good article but some points i also share from my experience.
1. In point no 2 u mentioned proof of address is – Voter Identity Card, Passport, Driving License & Aadhar card i.e all documents mentioned above is Proof of Identity and same Proof of address is – Telephone bill, Electricity bill & Bank Statement.
2. In point no 6 if proposed company have 5 subscribers
[2 directors (Having Valid DIN) cum subscribers],
[3 subscribers other than directors]
Having valid din Not having valid din
Total number of directors (including
subscriber cum director) 2 0
Number of individual first
subscriber(s) cum director(s) 2 0
Number of individual first
subscriber(s) other than subscriber 0 3
cum director
Number of non-individual first 0 0
subscriber(s)
Some cases subscriber who is not director detail not generated automatic in form than we should prepare separate detail of Particulars of Subscriber and give detail and upload in optional attachment otherwise registrar not accept form because every subscriber detail must require.
3. INC – 10 also attested by Notarized person.
4. PAN card is mandatory for all subscribers cum directors.
5.In case of company address – Lease deed or rent agreement and Utility bill and NOC from owner required.
6.DIR- 2 Consent as as act to director also require.
7. INC-29 form to be resubmitted only one time so take care all points.
These are additional points as per my experience so we incorporate company fastest way and reduce time everybody u read this article.
Thanks
CA Ashutosh Biyani
I appreciate you for very good article but some points i also share from my experience.
1. In point no 2 u mentioned proof of address is – Voter Identity Card, Passport, Driving License & Aadhar card i.e all documents mentioned above is Proof of Identity and same Proof of address is – Telephone bill, Electricity bill & Bank Statement.
2. In point no 6 if proposed company have 5 subscribers
[2 directors (Having Valid DIN) cum subscribers],
[3 subscribers other than directors]
Having valid din Not having valid din
Total number of directors (including
subscriber cum director) 2 0
Number of individual first
subscriber(s) cum director(s) 2 0
Number of individual first
subscriber(s) other than subscriber 0 3
cum director
Number of non-individual first 0 0
subscriber(s)
Some cases subscriber who is not director detail not generated automatic in form than we should prepare separate detail of Particulars of Subscriber and give detail and upload in optional attachment otherwise registrar not accept form because every subscriber detail must require.
3. INC – 10 also attested by Notarized person.
4. PAN card is mandatory for all subscribers cum directors.
5.In case of company address – Lease deed or rent agreement and Utility bill and NOC from owner required.
6.DIR- 2 Consent as as act to director also require.
7. INC-29 form to be resubmitted only one time so take care all points.
These are additional points as per my experience so we incorporate company fastest way and reduce time everybody u read this article.
Thanks
CA Ashutosh