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Company Setup In Indiaby http://www.companylegalgroup.com The Indian Corporate Law & Corporate Governance Consultants
Company Registration in IndiaSpecially software company, media company educationcompany. The Companies Act of 1956 sets down rules forthe establishment of both Public and Private companies.Private companies are formed between 2 to 50 membersand it prohibits invitation to public for capital issues.
Few basic things to be kept in mind whilestarting a company:
Company Registration in IndiaShareholders and Directors: A Private Limited Companycan have maximum of 50 shareholders and should haveminimum 2 shareholders at a time. A Public LimitedCompany has no restriction on the maximum number ofshareholders and but minimum number of shareholdersmust be 7.
Company Setup In IndiaMemorandum & Articles of Association: The Memorandum ofAssociation (MOA) states the main, ancillary or subsidiary along withother objects of the proposed company. The Article of Association(AOA) covers the rules and procedures for the routine conduct of theproposed company, the authorized share capital of the proposedcompany and also the names of its first or permanent directors.Thereafter, both MOA and AOA are required to be stamped. A stampduty, depending on the authorized share capital, is to be paid onboth.
Company Registration IndiaShare Capital: Shares should be expressed in fixedamount. Shares like "No par value" or "bearer" are notpermitted and the shares to be subscribed should beexpressed in Indian rupees.
Company Setup In IndiaAccounts & Auditors: Each company is suppose toappoint an auditor annually at its AGM. The auditor mustbe qualified by virtue of the Institute of CharteredAccountants of India Act 1949 and should be completelyindependent of the concerned company. The auditedaccounts of the concerned company serve as a tool forvarious stakeholders like creditors, investors, bankers andrevenue authorities.
Company Registration in India Public Filings: The names and all the required personal details of the directors and secretary, share capital, register of charges, registered office address, and other such particulars should be filed with the Companies Registry for any public inspection upon incorporation and if there is any change thereafter.
Company Setup In IndiaAnnual Meetings: An Annual General Meeting (AGM) ismandatory to be held once in every financial year andnot more than 6 months after the end of the financialyear. For a new company it is not required until 18months of its incorporation.