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A company is an association of member who works together to earn the profit. A Company is different from its legal entity. It is an artificial person. Before getting into the registration of a Company or Private Limited Company in India first let me make you understand about the Memorandum of association and Article of Association of a company. MoA reveals the name, objectives, registered office, capital of the Company. It basically states the relationship of the Company with the outside world. AoA is the necessary documents to be given at the time of incorporation of a Company. AoA and MoA together form the backbone of the Company Registration Ahmedabad.
The term company is derived from a Latin word which means an association of persons who took their meals together.
Latin word com: with or together, bread
A company is an artificial person created by law having perpetual succession and a common seal.
A company is a joint-stock enterprise in which the capital is contributed by several people who are likeminded persons formed for the purpose of carrying on some business.
A company is a corporate body and a legal personality having status distinct personality and separate from the members constituting it. It is also called as body corporate
The money contributed by a person is said to be the capital of the company. The amount contributed by each person is called a share.
Company according to The companies act, 2013?
According to the Companies Act, 2013 (Act No. 18 of 2013) a “company” means a company incorporated under this Act or under any previous company law [Section 2(20)].
A company is the most common vehicle to carry on business for an entity intending to make a profit and enjoy the benefits of an incorporated entity.
moreover , Ahmedabad is a city which is very consistent in development and has shown great growth in the past years. the city is culturally very active and is getting into the Corporate sector as well. the city has one of the best IIM’s and also the education is very god in the city. this is more the reason to do Company Registration in Ahmedabad.
One will indulge in the process of doing something only if certain benefits can be availed from it. Similarly, incorporating a company has the following benefits:
There are 4 easy steps for the incorporation of a Company:
As private limited companies in Ahmedabad are the most common form of companies that are registered in Ahmedabad, we will be dealing with the minimum requirements for registering a private limited company in Ahmedabad. The requirements for registering a private limited company are as follows:
Once you have these documents we are ready to roll our sleeves for you and get your company incorporated.
A few advantages of a Company are:
Run and managed privately by its directors and shareholders, a private limited company is not entitled to sell its shares to outside public investors and hence, it cannot trade on the stock exchanges, like the public limited companies do. Consequently, a private limited company is required to make much lesser administrative and financial disclosures to, and regulatory and annual compliances with the concerned authorities than those performed strictly by the public limited companies. Again, the shareholders of a private limited company , could be natural persons or companies, including the foreign companies.
Yes, immensely suitable! The private limited companies have been a hugely popular form of business entity amid foreign investors for making the direct foreign investment (subject to FDI Guidelines) in any country, by means of a wholly-owned subsidiary, a joint venture, etc.
Yes. Any foreign national or company, or an NRI can become a director, or hold a share of a private limited company in this country. But, at least one director on the Board of Directors of a private limited company must be a Resident in India. However, holding shares of a private limited company in this country by foreign nationals/companies will be subject to the contemporary FDI Guidelines.
The statutory requirements for the incorporation of a private limited company are -
After obtaining the documents, the next task is to ensure the availability of the proposed name of the private limited company through filing the Form INC-1. Then, drafting appropriate Memorandum of Association (MOA) and Articles of Association (AOA) of the company will be made. And, finally, Form INC-29 will be filed with the concerned ROC for incorporation of the proposed company, together will all required documents.
Based on the requirement of obtaining diverse requisite documents, authenticity of the documents submitted by the directors/shareholders, the speed of processing and filing forms & documents, and the briskness of the proceeding performed by the concerned government authorities, the approximate time taken by the entire procedure for incorporation may range from One to Two Weeks.
MOA stands for Memorandum of Association whereas AOA means Articles of Association. Both these documents act as an important source of information for various shareholders and other stakeholders associated with a Company.
MOA reveals the name, aims, objectives, registered office address, the clause regarding limited liability, minimum paid-up capital and share capital of a Company. In short, it explains the relationship of a Company with the outside world.
AOAs are the necessary documents to be submitted when the company is incorporated with the Registrar of Companies (ROC). When AOAs are in conjunction with the MOA, they are called the Constitution of the Company.
DIN, Directors Identification Number, is actually an identification number issued to a Director or a prospective Director of a Company by the Ministry of Corporate Affairs. The concept of DIN was introduced for the first time when Sections 266A and 266G were inserted in the Companies Act.
To obtain a DIN, one needs to make an online application to the Ministry of Corporate Affairs and submit the required documents related to Identity and Address Proof. Once the Ministry verifies these documents, the DIN will be allotted to the person.
The DPIN (Designated Partner Identification Number) used for identifying a designated partner in a Limited Liability Partnership (LLP) firm, is equivalent to the DIN (Director Identification Number) of a director of a private or public limited company. Both of these identifying numbers are issued by the Ministry of Corporate Affairs (MCA).
A non-profit organization can be registered as a Trust or as Society under the Registrar of Societies as a private limited non-profit company under Section 8 of the Companies Act, 2013.
Earlier, this Section 8 was popularly known as Section 25 of the old Companies Act, 1956. Now, according to the Section 8 (1a, 1b, 1c) of the new Companies Act, 2013, a Section 8 Company can be incorporated to promote commerce, art, science, research, sports, social welfare, education, charity, religion, protection of the environment or any such object. The condition is that such a Company should use its profits (if any) for promoting its objects and should not pay any dividends to its members.