Showing posts with label Company Registration Consultant in Noida. Show all posts
Showing posts with label Company Registration Consultant in Noida. Show all posts

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.

Tuesday, December 23, 2014

Procedure and Provisions Applicable for Private Placement by A Company

  • The act makes provisions relating to Private placement of all the securities and not only shares.
  • The act also defines Private placement as any offer of securities or invitation to subscribe securities to select group of persons by the company (other than by way of public offer) through issue of private placement offer letter and which satisfies the condition specified in this section.
  • To make an offer or invitation of securities to a section of public other than Qualified Institutional Buyers and Employees of the Company under ESOP otherwise than through issue of a Prospectus, by issuing a Private placement Letter of Offer or by way of private placement, in form PAS 4, no. of person to whom an invitation or an offer is made should not be more than two hundred persons in aggregate in the Financial year.
  • An offer of securities or invitation to subscribe securities shall be made through Private placement Letter of Offer, in form PAS 4, to a selected group of persons by the company (other than by way of public offer) only if the proposed offer has been approved by the shareholders of the company, by way of special resolution for each such issue. It is important to take note that now all types of securities are covered under the ambit of Private placement.
  • The explanatory statement to the G.M notice should contain the basis or the justification for the proposed issue price.
  • This offer Document is needed to be serially numbered and addressed specifically to the concerned person. It can sent either in writing or in electric mode, within a time period of 30 days.
  • As per Rules, the minimum investment size has to be Rs. 20,000 per person in terms of Face Value.
  • The act further provides conditions through which invitation can be made, the section, along with corresponding Rules also provide that no fresh allotment to be made unless all the earlier allotments of any other security are completed or withdrawn.
  • The act further provides that company shall allot securities within 60 days from date of receipt of application money, if it does not allot within 60 days then repay application money within 15 days after expiry of 60 days and if company does not pay money after the aforesaid period the company is liable to repay the money with interest at 12% per annum from expiry of 60 days.
  • The monies received shall be kept in separate bank account with a scheduled bank and to be used for purpose provided in this section.
  • The act further provides that the offer to be made only to such persons whose name is recorded prior to the invitation to subscribe. The complete record of the offer and acceptance and form of Private placement Letter of Offer in form no PAS 4 shall be filed with to the Register and in case of listed companies, with the Securities and Exchange Board of India (SEBI) as well, within a period of 30 days of circulation of private placement offer (which shall be the date of the said Private Placement Offer Latter).
  • The provisions this Section and the Rules shall not be application to any non-banking financial (NBFC) company which is registered with the Reserve Bank of India (RBI) Under RBI Act9, 1934 and housing finance companies which are registered with the national Housing Bank (NHB) under National Housing Bank Act, 1987, if they are complying with the regulations made by Reserve Bank of India or NHB in respect of offer or invitation to be issued on private placement basis. Provided that such companies will comply with provision relating to maximum number of people and value of investment, if the RBI or NHB has not specified similar regulation. 
Due Diligence Financial Services is reputed Company Law advisor relating to Company Formation or Company Registration in Delhi or any states or cities of India such as Gurgaon Deoghar Ghaziabad Dhanbad Noida Jharkhand Ranchi Bihar Patna etc.. Company registration Consultant in Delhi or any cities or states of India such as Dhanbad Noida Jharkhand Ranchi Ghaziabad Gurgaon Deoghar Bihar Patna etc. Besides Private limited Company or Public Limited Company registration ddfs provides OPC incorporation or Section 8 Company registration or Partnership Formation and LLP Registration.

Thursday, December 4, 2014

Procedure for Public Limited Company Registration:

Procedure for public limited company registration is same in every states of India. Company Registration whether in Delhi or Gurgaon or Noida or Ghaziabad or Patna or Ranchi is divided into five category such as Private Limited Company Formation or OPC One Person Company Registration or Section 8 Company Incorporation or Public Limited Company Formation and Chit Fund or NBFC Company Registration. Procedure of Online Company Registration is as follows:-

  1. Selection of Name of proposed Company
  2. Getting Digital Signature Certificate (DSC) of all proposed director
  3. Getting Director Identification Number (DIN) of all proposed first director by filing Form  DIR-3
  4. Applying name in Form INC-1 by considering Rule 8 of Company (Incorporation) Rule 2014.
  5. After Name approval getting requisite documents ready with stamp paper & notary i.e.   DIR-2, INC-9, INC-10, INC-8 etc.
  6. Filing Incorporation documents in three form i.e. Form INC-7 for Company Incorporation, INC-22 for Information about registered office of the company and Form DIR-12 for director appointment.
  7. After receiving Certificate of Incorporation (COI) need to apply for Commencement of Business Certificate in Form INC-21.

Due Diligence Financial Services involve in providing professional services for Business Set-Up either it can be Proprietorship company or Partnership Company or LLP or OPC registration.