During the registration, a minimum of INR 1 Lakh should be provided as an authorized capital. A minimum paid-up capital requirement is eliminated as a part of Government’s initiative to simplify the business registration in India. However, each shareholder must subscribe at least 1 share for the registration to introduce the sufficient amount for running the business.

The name of a company should be formulated as mentioned above. The applicants can provide the maximum of 2 names with their preference order under RUN form. The applicant should comply with the provisions of the Act or regulations. The registrar may ask to re-submit the application with a different name if names do not fall under the criteria of uniqueness, relevancy or do not fulfill other requirements.

Digital Signature Certificate is provided in the form of a token issued by Certified Authorities. Any form filed for online company registration in India shall be submitted after affixing the DSC of an Applicant. Also, the directors will require DSC for DIN application and the subscribers to MOA shall possess DSC for submitting e-forms for incorporation.

Authorised capital shows the maximum amount of capital that a company can raise by way of issue of shares at present or in the future. Whereas, the Paid-up Capital refers to the actual amount raised by a company i.e.; amount paid by the shareholders on the issuance of shares. One can register a company in India by any amount of paid-up capital which can be less or equal to the authorized capital but not exceeding the authorized capital.

Yes, a Private Details can carry multiple businesses if it is mentioned in the company’s MoA and approved by a registrar. The company can mention more than one business operating within the same field or of the same nature. Activities which are unrelated, such as fashion designing and event management or construction, those cannot be registered under the same company.

Yes, it is possible to register a Private Details at a commercial or residential place by providing the sufficient proof. A registered office is a place where the business receives communication, if any, from the MCA or any concerned authorities. This address is displayed at the portal of Ministry as well.

Yes, NRIs or foreigners can hold shares subject to FDI guidelines. However, a foreign participation above 50% will place the company under the category of Foreign Details.

No, none of the promoters are required to be present when opted to register a company online. All the forms are filed on the web portal and are digitally signed. Also, the required documents can be sent through e-mail or uploaded on our portal for filing.

Once, the company is registered, it should follow below-mentioned requirements on priority:

• The opening of the company’s current account within 30 days after receiving the PAN card.
• Appointment of a Statutory Auditor
• Depositing paid-up capital as mentioned while registration
• Issue and allotment of shares

During every financial year, the company must hold one Annual General Meeting (AGM) and at least 4 board meetings (one in each quarter). Further, the accounts and financial statements must be audited by an independent auditor. Subsequently, it shall file form AOC – 4 and MGT – 7 as part of Annual Compliance within given time.

Daily transactions of the business are recorded in the Books of Accounts of the Details by the Accountant/s. The Accounts hence recorded are verified by an Independent Auditor to make sure that no statutory compliance are missed and provide an Audit Report for the same.

(Note: arjlegal.in shall only take the accountability of the Accounting Service provided by them but however shall help in appointment of Independent Auditor for your business.)