How Registration of a Company takes place through RUN & SPICE By CS Annu Sharma


What are the Benefits of Starting a Business in the Form of a Company?

  1. It’s easy to transfer ownership by selling shares to another party
  2. Shareholders (often family members) can be employed by the company
  3. You’ll have access to a wider capital (fund) and skills (experienced professionals) base.
  4. Personal asset protection.
  5. Limited liabilities Companies allow owners to separate and protect their personal assets.
  6. In a properly structured and managed corporation or LLC, owners will have limited liability for business debts and obligations
  7. Creditors cannot pursue owners’ personal assets, such as a house or car, to pay business debts.
  8. A company can raise additional funds through the sale of stock (shares).
  9. A Company may deduct the cost of benefits it provides to officers and employees.

How To Incorporate A Company

> Firstly an applicant (any individual) has to apply for reservation of name through RUN on MCA portal (Form INC-1 has been omitted for reservation of name).

If approved by the registrar then it will be valid for 20 days from the date of approval (valid for 60 days in case of change of name)

Fees for applying for reservation of name is INR 1000 and it has to be paid immediately no pay later challan would be created here if rejected then one more chance will be allowed for application of the name.

Following details are required to be used while filing an application for reservation of name

  1. Type of entity: select any one of the following for which you are filing an application;

♦ New Company /part I company

♦ Producers Company

♦ Unlimited company

♦ IFSC Company

♦ Section 8 Company

♦ Nidhi Company

  1. CIN (in case of change of name)
  2. Proposed name –I
  3. Proposed name –II

After filing the information now we will click on the auto check button to check the availability of name on the provisional basis.

When the name is approved by the CRC then a mail of intimation will be sent on the E-mail ID registered with the MCA-(either for resubmission or availability)

If the name is rejected then we can file it once more via RUN on MCA portal

We will have to fill the following particulars;

  1. Service request number previously generated
  2. Type of entity for which the form is being filed
  • New company /part I company
  • Producers company
  • Unlimited company
  • IFSC company
  • Section 8 company
  • Nidhi company
  1. CIN (in case of change of name)
  2. Proposed name –I
  3. Proposed name –II

After filing the information now we will click on the auto check button to check the availability of name on the provisional basis.

If name approved then we can proceed further to complete the procedure of incorporating a company;

Now we will prepare the form SPICE-32 along with spice-33(for MOA) and spice 34 (for AOA)

After filing up the forms we will submit all the forms with ROC for incorporating a company along with the requisite fee.

Point to be noted: if authorized share capital is not more than INR 10 Lakhs then there is no ROC fee otherwise 2% on the excess of the 10 lakhs.

If Registrar of the company is satisfied with the information provided that it will issue Certificate of incorporation (INC-11) which shall mention the date of registration of the company and CIN which 21 Digits alphanumeric number as well as PAN & TAN of the newly incorporated company.

12 Points to Be Kept In Mind While Filing Spice-32

  1. DIN of 3 directors can be applied through this form at one time
  2. No need to file DIR-12 for first directors separately
  3. Details of subscribers and directors
  4. Address proof of all the directors and subscribers
  5. Correspondence address of the company
  6. PAN & TAN shall also be applied by this form while filing this form
  7. Affidavit and declaration by all the directors and subscribers of the company
  8. MOA & AOA of the company duly signed by the subscribers of the company shall be attached with this form.
  9. Proof of address of the company shall also be attached to this form if possible
  10. One of the directors must have his DSC for signing the spice-32 and if he has DIN then he can use the same otherwise form can be signed by using PAN of the director also.
  11. After it must be signed by Practising CS/CA/CMA/ADVOCATE
  12. At one time details of Maximum 3 directors and Maximum 7 Directors can file if any company wants to apply for more than 3 directors of 7 directors then it can apply after incorporation separately

Points to Be Kept In Mind While Filing Spice –MOA

  • SRN if any
  • Application of TABLEof the companies act 2013
  • Name of the company
  • The registered office of the company (State of registered office )
  • The object of the company along with the ancillary object
  • Nature of liability will be automatically applied while selecting of Table of companies act 2013
  • Details of the subscribers digitally signed by all the directors

Points to Be Kept In Mind While Filing Spice –AOA

  • SRN if any
  • Details of first directors of the company
  • Details of first subscribers of the company
  • Duly certified by Practising professional.

CORPORATE IDENTITY NUMBER WILL BE AS FOLLOWING;

An XXXXX SS YEAR COM XXXXX

The first letter will show the status of the company either listed or unlisted

Next 5 letters will be selected on the basis of nature of the business it will be selected by ROC

Next 4 letters will show the year of incorporation

Next 3 letters will show the nature of the company either govt. of private or public of foreign etc.

Next 6 letters will be allotted by ROC on its own basis.

TABLES OF MOA

TABLE –A – MOA of a company limited by shares

TABLE –B – MOA of a company limited by guarantee and not having share capital

TABLE –C – MOA of a company limited by guarantee and having share capital

TABLE –D – MOA of an unlimited company and not having share capital

TABLE –E – MOA of an unlimited company and having share capital

TABLES OF AOA

TABLE –F – MOA of a company limited by shares

TABLE –G – MOA of a company limited by guarantee and not having share capital

TABLE –H – MOA of a company limited by guarantee and having share capital

TABLE –I – MOA of an unlimited company and not having share capital

TABLE –J – MOA of an unlimited company and having share capital

 This is how a registration of a Company Takes Place.

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