Showing posts with label Company Formation in Noida. Show all posts
Showing posts with label Company Formation in Noida. Show all posts

Friday, February 13, 2015

Provisions Applicable for Foreign Company

If any person or group of persons, who trade or carry on business in any manner under any title or description or name as a foreign company registered under the Act or the rules made there under, that person or each of those group of persons shall, shall be liable for investigation under section 210 of the Act and action consequent upon that investigation shall be taken against that person.

  • The punishment has been increased, wherein a foreign company fails to comply with the provision of section 387, Section 388, Section 389 and Section 390 of the new Act. Under the old Act, such companies were punishable with imprisonment for a term up to 6 months or with fine up to fifty thousand rupees or with both.  Also, punishment for default in case a foreign company fails to comply with any other provisions applicable on foreign companies in respect of document to be delivered to Registrar after commencement of business in India, return to be delivered to the Registrar where documents are altered, accounts of foreign company and every officer of the company in default was punishable with fine which may extend to ten thousand and in case of a continuing offense, with an additional fine of one thousand rupees for every day during which the default continues.

However under the New Act, a general penalty is prescribed for default of any of the provision of this chapter. Now, the company in default shall be punishable with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees and in the case of a continuing offense, with an additional fine which may extend to fifty thousand rupees for every day during which the default continues and every officer who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine that shall not be less than 25000 rupees but which may extend to extend to 1 lakh rupees, or with both.

Due Diligence Financial Services provides services to bank in the field of Due Diligence Report for their customer before sanctioning loan about their physical existence, goodwill and market coverage. And services includes Company registration in Delhi Gurgaon Noida which includes Section 8 company registration or OPC Registration or LLP formation or annual filing of private limited company or annual filing of public limited company as well as LLP in Delhi Noida Gurgaon.


Thursday, January 22, 2015

Declaration Required from Director Under Companies Act 2013

New provision applicable for any Company registration in Delhi Gurgaon Noida Ghaziabad Uttar Pradesh Bihar Patna Ranchi or all over India under Companies Act 2013 with respect to the incorporation of the Companies:

  1. For any new company registration under companies act 2013 at the time of incorporation an affidavit from every subscribers to the MOA and who named as First Directors in the Articles of Association in Form No INC-9 and shall be submitted that proposed first director is not convicted of any offence in connection with the promotion, management or formation of any Company previously or that he has 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 during the preceding 5 years and that all the documents filed with the registrar for registration of the Company contain information that is correct and complete and true to the best of his knowledge and belief. 
  2. In case of incorporation of Company, an address for correspondence until registered office is established shall also be provided.
  3. Documents filed for incorporation shall be maintained at the Registered Office till dissolution.
  4. Any person who deliberately furnishes any false or incorrect particulars of any information or suppresses any material information in any document filed at the time of registration of a company will now be responsible for fraud under Section 447 and will be subject to stringent punishment.
  5. In case company is found at any time after the incorporation, it has been proven that Company has been registered by furnishing any false or representation or by suppressing any material fact or incorrect information or information in any of the document or declaration filed or made for incorporating such company, or by any fraudulent action, the Promoters, the person named as the First Directors of the Company and the person making declaration under clause (b) of sub-section (1) shall each be liable for action under Section 447 and will be subject to stringent punishment.
  6. The application for incorporation of the Company shall be filed in Form No. INC-7 for company Other than One Person Company and for OPC in From INC-2 along with the fee as provided. 
  7. At the time of witnessing the signatures of proposed first director or subscribers to the Memorandum of Association, the witness shall also certify that he has verified the ID proof i.e. Voter Id or Driving License or Passport or Aadhaar etc. of the subscribers for his/her identification and has also satisfied himself about their particulars. 
  8. The rules also provides the manner of signing of memorandum in a case subscriber is illiterate, a body corporate or foreign the ID of the subscriber to the memorandum is Foreign national and visited India for purpose of incorporating a company, then no notarization  or apostlisation is required provided he has a valid business License
  9. The declaration by an advocate, a chartered account, cost accountant or company secretary in practice shall be in Form No INC-8.

Following important information need to provide in respect of the subscribers:

  • Photography
  • PAN
  • Education qualification
  • Proof of identity and residence
  • Specimen signature of director duly verified by their respective banker or notary at the time of incorporation
  • Proof of nationality i.e. country of origin in case the subscriber is a foreign national
  • Similar information as aforesaid for person signing on behalf of body corporate
  • Certificate of incorporation along with the address proof as applicable in that country in case of  foreign bodies corporate

Particulars of first directors of first directors along with their consent and details of his interest in other firms and bodies corporate shall be field in Form no DIR-12.

We are one of the Top Delhi NCR’s Company Registration Consultant and provides Company Formation Services in Delhi Gurgaon Noida Ghaziabad whole Uttar Pradesh Bihar Patna Deoghar Jharkhand Ranchi etc.


Wednesday, December 17, 2014

Incorporation of Company and Matter Incidental Thereto

  1. At the of Company Formation there required an affidavit from every subscribers of MOA and from person named as First Directors its AOA, if any, in the Articles in From No INC.9 shall be submitted that he is not convicted of any offense in connection with the promotion, formation or management of any Company , or that he has not been found guilty of any found or misfeasance or of any breach of duty to any Company under this Act or any previous Company law during the preceding 5 years and that all the document field with the Registrar for registration of the Company contain information that is correct and complete and true to the best of his knowledge and belief.
  2. Where, if it can be found at any time after Company Registration in Delhi Gurgaon Noida Ghaziabad Deoghar Dumka Patna Ranchi Dhanbad Uttar Pradesh etc, it is can be proved that the Company has been formed by furnishing any incorrect  and false information or representation and by suppressing any important material fact or information in any of the documents or declaration field or made for incorporation such company, or by any fraudulent action, the Promoters, the persons named as the First Directors of the Company and the persons making declaration under clause (b) of sub-section (1) shall each be liable for action under Section 447 and will be subject to stringent punishment.
  3. Apart from the punishment, the Tribunal may also on an application, if satisfied, that wrong information or representation is made or material facts have been suppressed at the time of incorporation, it may order for monetary punishment and imprisonment to First Directors, Promoters and the person giving such declaration.
  4. The Company shall be given a reasonable opportunity of being heard in the matter; and The Tribunal shall take into consideration the transactions entered into by the Company, including the obligation, if any, contracted or payment of any liability. (Provision not notified)
  5. The application for incorporation of the Company shall be field in Form No.2 (for One Person Company) and Form No. INC.7 along with the fee as provided in the Companies (Registration offices and fees) Rules, 2014 for registration of a company. Under the Companies Act, 1956 the said from was Form No 1.
  6. While witnessing the signatures of the subscribers to the Memorandum, the witness shall also certify that he has verified the ID of the subscribers for the identification and has also satisfied himself about their particulars. (Rule No 13(1) of the Companies (Incorporation) Rule 2014)
  7. The rules also provides the manner of singing of memorandum in a case of subscriber is illiterate, a body corporate or foreign national. Where subscriber to the memorandum is foreign national and visited India for purpose of incorporating a Company, then no apostlisation or notarization is required provided he has a valid business License. The requirement of business License is not applicable to foreign national who are of Indian origin or overseas citizen of India. For Company Incorporation in Delhi Gurgaon Noida etc. there required a declaration by a chartered accountant or an advocate or cost accountant and company secretary in practice shall be in Form No INC.8. Under .the Company Act 1956 the said declaration was in Form No 1.
  8. Following Additional Information needed in respect of the subscribers:
  • Photograph
  • PAN
  • Educational qualification
  • Proof of identity and residence
  • Specimen signature of director duly verified by respective banker or notary at the time of incorporation
  • In case the subscriber is a foreign national Proof of nationality
  • Similar information as aforesaid  for parson singing on behalf of body corporate
  • Certificate of incorporation and address proof, in case of foreign bodies corporate. 
 
Particulars of first directors along with their consent and details of his interest in other firms and bodies corporate shall be field in Form no DIR.12.

Company Registration Consultant in Delhi Deoghar Patna Bihar Jharkhand Ranchi Dhanbad Ghaziabad Gurgaon and Noida.