Register a company
suchitra
(Querist) 15 January 2009
This query is : Resolved
Sir,
I wanted to start a business, Kindly know
what are the procedures to register a company to get a KST No in karnataka.
sanjeev murthy desai
(Expert) 15 January 2009
Dear Suchitra,
Requirements for obtaining DIN and the Digital Signature that falls part of the Form 1A for searching the availability of the names for the Company.
Requirements:-
1. Director Identification Number:
a. Latest Passport Sized Photographs.
b. Documents required for verification are:
• For Identification proof: - Passport/ Voters Identity card/ Drivers License/ Income Tax PAN Card.
• For Residence Proof: - Passport/ Voters Identity card/ Drivers License/ Ration Card/ Electricity Bill/ Telephone Bill/ Bank Account Statement.
All the above documents that are required to be submitted must be verified by a Public Notary or Gazetted officer or Certified Professional i.e. Chartered Accountant, Company Secretary, Cost Accountant. Name and Address on the identity/residence proof and the Form must be same
2. Form 1:
• Name and details of the Promoters, 7 names are required whereas 2 names are mandatory.
• Proposed names of the Company 6 in number along with the significance of the key or coined words in the proposed names.
• Main objects of the proposed Company.
• Particulars of the Directors [in case of Private Company it is 2 and in case of Public Company it is 3, along with a document of Pan/Passport/Voters Identity Card, if already a director of some company then the Corporate Identity Number of such Company to verify the identity of the directors of the Company.]
• Proposed authorized capital, if it is a Private Share Capital then it is Rs.1,00,000, a public Company then it is Rs.5,00,000 and if it is a company licensed under section 25 of the Companies Act, then the authorized Capital can be less than the above.
• If the proposed name is based on a Registered Trade Mark then the particulars of such Trade Mark/ Application made for such Trade Mark is required to be attested and attached to the Form.
Digital Signature:
• Full Name (First, Middle, Last)
• Residential address
• Office Address
• Details of either Pass Passport/ Voters Identity card/ Income Tax PAN Card.
• E-Mail Address (Valid and active Email ID that is accessed frequently)
• Profession and Professional Email ID.
• Requires any one attested copy of the Passport/ Voters Identity card/ Drivers License/ Ration Card/ Electricity Bill/ Telephone Bill/ Bank Account Statement for Applicant verification purpose.
• Documentary proof of Professional Membership.
• Online Certificate of Enrollment Form with Request Number.
sanjeev desai,
Bangalore
AEJAZ AHMED
(Expert) 15 January 2009
DEAR SUCHITRA,
Following is the complete details and particulars for you, to start a Business/Company:
Registration Requirements:
Procedure 1. Present application to the Registrar of Companies (ROC) for availability of company name
Time to complete: 4 days
Cost to complete: INR 500
Comment: To check whether the name is acceptable or available, the entrepreneur can use the website of the Ministry of Company Affairs (www.mca.gov.in)
For any clarification or doubt the office of the Registrar of Companies (˜ROC') can be visited .
Address: E-Wing, 2 nd Floor, Kendriya Sadana, Karomangala, Bangalore 560 034.
Phone: 080-25537449,
Fax: 080-25538531
email: roc@kar.nic.in
After the name has been finalized, six names in order of preference can be inserted in the prescribed Form 1-A for making the application to the agency notified by the MCA (MCA PFO, F1, First Floor, Vistar Enclave, No. 12, Fourth Main, Malleswaram, Bangalore) for seeking availability of desired name. The said Form 1A is thereafter forwarded to the office of RoC for further processing
While filing Form 1A it should be ensured that:
The details are filled in correctly as no change is entertained in the Form once the Form is filed.
Guideline Instructions issued by the Department of Company Affairs for deciding the availability of name for the formation of a Company are compiled with.
As per the provisions of the Emblems and Names (Prevention of Improper Use) Act, 1950, use of improper names is prohibited.
The status of application filed can be ascertained from the MCA’s website.
The Ministry of Company Affairs has laid down guidelines as regards the use of key words in a company's name. In order to have a key word as part of the company's name, the following minimum authorized share capital requirements have to be fulfilled:
SI. No. Key Words Required Authorised Capital
1. Corporation INR 50,000,000/-
2. International. Globe, Universal, Continental, Inter-Continental, Asiatic, Asia , being the first word of the name INR 10,000,000/-
3. If any of the words at (2) above is used within the name (with or without brackets) INR 5,000,000/-
4. Hindustan, India, Bharat, being the first word of the name INR 5,000,000/-
5. If any of the words at (4) above is used within the name (with or without brackets) INR 500,000/-
6. Industries/Udyog INR 10,000,000/-
7. Enterprise , Product, Business, Manufacturing INR 1,000,000/-
Procedure 2. Engross Memorandum and Articles of Association according to the Karnataka Stamp Act
Time to complete: 2 days
Cost to complete: INR 1000 (for MOA) + INR 500 (for AOA) + INR 20 (stamp paper for declaration in Form 1)
Comment: The Memorandum and Articles of Association is drafted on plain paper and then presented to the Officer of Stamps for stamping. Special adhesive stamps are affixed on the MOA and AOA.
The application should be accompanied necessarily by the following:
(i) Two Blank Copies of the Memorandum of Association and Articles of Association.
(ii) Payment receipt.
Ensure that the copies submitted to the Superintendent of Stamps for stamping are unsigned and no promoter or subscriber has written anything on it by hand. The Superintendent returns the copies one of which is duly stamped, signed and engrossed evidencing the payment of the requisite stamp duty.
The rate of Stamp duty varies among States.
According to the Karnataka Stamp Act, 1957 Schedule, fees are as follows:
Art.33. Memorandum of Association of a company
If accompanied by Articles of Association under Section 26 of the Companies Act, 1956 (Central Act 1 of 1956): INR 1000
Art. 10. Articles of Association of, a company where the company has no share capital or nominal share capital or increased share capital: INR 500 for every INR 100000 of capital or part thereof.
Procedure 3. Present the required documents along with the registration fee to the Registrar
AEJAZ AHMED
(Expert) 15 January 2009
OR if possible to you kindly go through this site:
http://www.doingbusiness.org/ExploreTopics/StartingBusiness/India-Bangalore.htm
