In India you
can’t do all type of business activity under One Company, and if you desired to
do all the activity either charitable or business you will be really in
trouble. Ministry of Corporate affairs has defined different status of company
having different proposed activity for its registration with MCA.
There are also
different level of capital requirement for different type of company
incorporation. Company formation procedure has be segregated as follows:
Person or group
of persons who desired for Company Incorporation with profit motive but other
than Finance Activity has four option according to number of entrepreneur
involved in formation of a company which is as below:-
- For Less than two entrepreneur:- One Person Company Registration i.e. OPC registration.
- For equal to or less than seven entrepreneur: They can either make a LLP Formation or Private Limited Company Registration.
- For more than seven entrepreneur: they have option either make a Public limited company registration or private limited company formation or LLP incorporation.
- For entrepreneur who desired to register a company with Finance Activity: They must do a NBFC company Registration but before commencement of business NBFC Company after incorporation must be registered to RBI. NBFC Company can have the status of Private Limited or Public limited company but NBFC company registration can’t have the status of One person company (OPC) as restricted by Companies Act as condition for OPC formation.
- For entrepreneur with Charitable Activity: Can make Section 8 Company formation or you can say it NGO company registration.
- Entrepreneur with Chit fund object should make a Chit Fund Company Registration
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