Procedure involved to Start a Company (Private Limited) in India
Posted by kumaran on September 6, 2006
This information will be useful for those who are looking in a nutshell the steps involved to start a Private Limited company in India
1. First and foremost identify the Directors of the Company. Minimum of two directors need to present and Maximum of 8 is allowed.
2. All Directors should have DIN (Directors Identification Number). If you do not have one you can apply DIN online
at www.mca.gov.in. FAQ on DIN http://www.mca.gov.in/MinistryWebsite/dca/faq/faq1.html
Documents required for DIN
A. Identity Proof (Any one of the following)
PAN Card
Driving License
Passport
Voter ID Card
Others (to be specified)
B. Residence Proof (Any one of the following)
Driving License
Passport
Voter ID Card
Telephone Bill
Ration Card
Electricity Bill
Bank Statement
Others (to be specified)
3. Once you have got your DIN then you need to apply for Company name. You need to go with 5-6 names in the order which you prefer.If the name is not available then they go to the next one in the order you have provided.
4. You need to apply online for the name availability . You need to Fill in Form 1A. Forms are avilable at this
location.http://www2.mca.gov.in/MinistryWebsite/dca/downloadeforms/eformTemplates/1030-Form1A_help.zip
5. Once you have got your name approved you have to apply for the Incorporation of Company. For this you
will have to prepare Memorandum of Association which will detail what the company;s operations the first list of directors
who are going the be in the board need to be defined in this document. This should be applied along with Form 1
http://www2.mca.gov.in/MinistryWebsite/dca/downloadeforms/eformTemplates/1022-Form1_help.zip. Ocne this has been approved make atleast 10-15 copies of your Certificate of Incorporation and Memorandum of Association and have it in a booklet form.
6. Once your company has been incorporated you can open a Current account in any of the leading banks
for carrying out your operations. You will need to submit a copy of Certificate of Incorporation and Memorandum of Association along with Borad resolution to open the bank account.
7. Thenyou need to apply for TAN and PAN for the Company
https://tin.tin.nsdl.com/pan/form49A.html
https://tin.tin.nsdl.com/tan/form49B.html
8. If your services are in Software related area you can apply for STPI license which will give you certain benefits
like Company need not pay tax for 5 years, there will be no import or expurty duty levied on software/hardware,
You will get office spaces at lower rates at STPI units. These are few of the benefits of becoming an STPI member.
All this you can do on your own or you can outsource these to professional auditor. We did it through Auditor and it took almost three weeks (Upto Step 7 excluding STPI) and all charges(excluding sTPI) would approximately cost you Rs.25,000.
I am not sure how much it would cost if you do it on your own. I read in one of the blogs that in Delhi the whole
process was completed in 30 minutes after the e-Governance was launched.
Good Luck and If you need more information or any guidance drop in a mail.
September 12, 2006 at 9:10 am
I’m sure lots of folks would find this info useful. Thanks for writing this up, Kumaran.
Startups.in/India
Nag .B
September 13, 2006 at 6:35 am
Thanks a lot for publishing this info.
September 13, 2006 at 8:34 am
Thanks. Very useful
September 13, 2006 at 4:00 pm
thanks !
September 15, 2006 at 10:49 am
You have done a great job by making this site. Thanks a lot.
September 18, 2006 at 5:06 pm
Hi!
Could anyone please guide me, if the persons working in a public sectorcompany start their company to deal in mutual funds and shares?…secondly, are they suppose to disclose this to their emplore before starting the company?…
regards,
Kabir
September 26, 2006 at 9:24 am
Hi Kumaran,
Thanks a lot for your detailed information. I’m not sure whether you’ll be able to help me with this request.
Can you please let me know the procedure to open a branch office in India for a company that is based in UK as I presume this should be a lot easier as against opening a brand new company in India, which is a cumbersome process as per some of the feedback from people that I read in the net.
Thanks & Regards
Vijay
October 10, 2006 at 11:21 am
Thanks very usefull information. Now starters will benefit from it.
Offshore web development company - Cut down you are costs by 30-40% yet 100% result.
October 11, 2006 at 9:57 am
Hi Vijay.
I got this information from somewhere in web. but i do not know where i got it. it may be useful for you
For Overseas Company
A foreign company or individual planning to set up business outsourcing in Indian IT can do it as:
1.As a Foreign Company through a Liaison Office / Representative Office, Project Office or Branch Office.
2.As an Indian Company through a joint venture or a wholly owned subsidiary
3.Foreign Company is one that has been incorporated outside India and conducts business inside India. And these companies must comply with the provisions of Indian Companies Act 1956.
Liaison Office / Representative Office:
1.The ERA Act regulates the opening and operation of such offices while the RBIs (Reserve Bank of India) approval is needed for opening these offices.
2.These offices are not permitted to conduct any kind of business or commercial activity or to earn any income here.
3.Commercial activities must be limited to the collection and transmission of information between the overseas Head Office and the prospective Indian customer.
4.The overseas head office, through inward remittance of Foreign exchange, should meet the expenses of these offices.
5.Permission for these offices is granted initially for 3 years and may be extended from time to time.
Project Office
1.With the approval of RBI, overseas companies are planning to execute specific projects in India, which can set up temporary software projects or site offices in India.
2.This is generally for Government approved projects.
Branch Office
Foreign companies engaged in manufacturing and trading activities abroad can set up Branch Offices for business outsourcing in India with the permission of RBI, for the following purposes.
1.To represent the parent company / other foreign companies in various matters in India like buying / selling agents.
2.To conduct research work in the area in which the parent company is engaged, provided the results of the research work are made available to Indian Companies.
3.To undertake export and import trading activities.
4.To promote possible technical and financial collaborations between the Indian companies and overseas companies.
5.A branch office is not permitted to carry out manufacturing activities on its own but is permitted to sub contract these to Indian manufacturers.
As an Indian Company
1.Through incorporation of a company under the provisions of Indian Companies Act 1956, a foreign company can commence operations in India.
2.Foreign equity in such companies can be up to 100% depending upon the business plan of the foreign investor, prevailing investment policies of govt. of India and on the receipt of requisite approvals.
Joint Venture with an Indian partner
By forming strategic alliances with Indian partners, foreign companies can set up their operations in India.
This will benefit the foreign investor in the following ways:
1.Available financial resources of the Indian partner.
2.Already established distribution / marketing set up of the Indian partner.
3.Already established contacts of the Indian partner that help smoothen the process of setting up operations.
Approval of foreign investments
1.Automatic approval Foreign equity up to 50%, 51% and 74 % are given automatic approval by RBI, if they fulfill the prescribed parameters (in certain industries) specified by the Government of India.
2.Govt. approval Foreign equity exceeding 50%, 51% or 74% in both specified and unspecified industries needs prior specific approval from Foreign Investment Promotion Board (FIPB).
Wholly Owned Subsidiary
1.If a foreign investor holds 100% share of an Indian IT Company it has the right to set up a wholly owned subsidiary.
2.Prior approval from FIPB is needed.
3.Only holding operation is involved and all subsequent/downstream investments to be carried out require prior govt. approval.
4.Proprietary technology is sought to be protected or sophisticated technology is proposed to be brought in.
5.At least 50% of the production is to be exported.
6.Proposals for consultancy.
7.Proposals for infrastructure like roads, industrial model towers, industrial parks or estates.
Several means can be employed for hitting the jackpot of business outsourcing in India. The various ways of tapping Internet usage and setting up one’s own company is discussed above.
November 28, 2006 at 5:34 am
I wanted to know
1)
if a Foreign national (residing outside india) wants to become a director (with equity)in a private limited company in India, what is the procedure involved.
2)
If an Indian company (Pvt. Ltd.) wants to open a Marketing office in UK (with a local bank account) what are the modalities involved
December 1, 2006 at 9:05 am
Thanx a lot, was looking for such a guidance, it has given me lot of info. to prepare before approaching an Auditor/Consultant to go further.
All the best. Will get in touch, if any info is required further.
December 13, 2006 at 4:02 am
[...] Kumaran on blog has posted the detailed procedure on whats required to start one . You can chech this link : How to lauch a company in india [...]
January 15, 2007 at 11:52 am
very best idea make rules time!
January 16, 2007 at 7:18 am
Wow! Thanks a lot!
February 1, 2007 at 5:52 pm
Hi All.
We are newly associated law professionals dealing with all corporate laws practices committed to customer satisfaction. We are based in New Delhi, India. We always thrive for speedy disposal of the cases.
Should anyone has any query please dont hesitate to contact us at robinmassociates@yahoo.co.in
February 1, 2007 at 6:41 pm
We are manufacturing concern in India and also we have service arms to provide a after sales services to the customers. Our board has decided to register our trademarks in both services we povide and goods we manufacture. Please suggest how to apply for a trade mark in respect of particular goods or services? And suggest whether your firm take up this assignment?
Thanking you in anticipation.
February 1, 2007 at 6:51 pm
Thank you for your query and confidence reposed.
We confirm under present Trademarks Laws, you can get registered for goods and services as well.
The procedure is provided under the Trade Marks Act,1999 that goods and services are classified according to the International Classification of goods and services. The Act also provides a summary of list of such goods and services falling in different classes which is merely indicative. The TM Registrar is the final authority in the determination of the class in which particular goods or services fall. For detailed description of other goods and services please refer to the International Classification published by WIPO. In case you find it hard, feel free to contact us for assistance.
Yes, we do take up IPR related assignments at most reasonable fee and at greater speed. We have liaison at TM Registry.
February 1, 2007 at 6:54 pm
I sincerely thank you. Could you please tell us what are steps involved in registration of Trademarks? I shall be grateful.
February 1, 2007 at 7:01 pm
Very briefly, an application for registration of trade marks is received at the TM Registry with competent jurisdiction. Application is then numbered. Application is then examined mainly with regard to the distinctiveness. The Registrar on consideration of the application and any evidence of use or distinctiveness decides whether the application should be accepted for registration or not, and if accepted, publishes the same in the official gazette. Within a prescribed period any person can file an opposition. Thereafter, the evidence stage by both opponent and applicant. On completion of evidence, the matter is set down for a hearing and the case is decided by a Hearing officer. If the applicant wins, certificate of registration is issued.
The Registrar’s decision is appealable to the Intellectual Property Appellate Board.
Regards.
For Rabin Majumder & Associates
Advocates & Legal Consultants
New Delhi
February 1, 2007 at 7:08 pm
Thanks. Our Delhi representative would contact you this week. Thanks once again.
February 3, 2007 at 3:15 am
Thank you Mr. Rabin. We are immensely helped by following your advices and as instructed, you go ahead with filing the discussed 10 applications for registration in the Trademarks Registry. You are also requested to advice us of development. Regards.
February 5, 2007 at 4:11 pm
Hi,
This is very usefull informtion which I got it from this site.
February 6, 2007 at 1:23 am
Hi Mr. Naidu,
Is this letter posted on Feb 5th is for me.
Feel free to contact should you find its necessary.
Regards.
R M & Asso
February 8, 2007 at 7:58 am
hye
i wanna know how to get export-import license and pls tell me about paper work for export-import, i am a beginner in export-import.
thanks sir.
February 23, 2007 at 10:02 am
culd anybody provide me MOA of a Printing & publishing Company
February 28, 2007 at 3:00 pm
Dear Ms. Shamila Chhikara,
As per your request, I write to confirm that we can prepare and provide you with the necessary documents when we receive the specific instructions from you.
Regards.
Rabin Majumder & Associates
Advocates & Legal Consultants
March 6, 2007 at 3:30 am
Hi This is Chandrasekhar, working in a IT Company on Linux.
I want to know the procedure to open a new IT placement consultancy in Bangalore.
1. What are the requirement and What type’s of licences are required.
Any assistance is appriceated.
Thanks,
Chandrasekhar.
March 12, 2007 at 10:11 am
I found the information very useful.
Thanks!
Harvesh
March 15, 2007 at 2:10 pm
Hi Harvesh,
Could you please share that information if it is related IT consultancy. i am planing to open new IT requit consultancy.
Thanks,
Chandrasekhar.C
March 15, 2007 at 3:06 pm
hi
thanks for valuable article
i am electronics engg working in goverment sector i want to make company i dont know how i start from can you suggest me.
thankyou sir
March 29, 2007 at 4:19 am
Can you compare pros and cons of dual citizenship (US and OCI), for starting company in India, i.e. branch vs independent co. in india ? Any pros and cons of “dual” in this process ?
Which auditor did you go with ? I thought chartered accountants did this . Do they have a website ?
May 14, 2007 at 5:00 am
I would also like to know the answers for the previsouly asked questions(post# 10)please.
If a Foreign national (residing outside india) wants to become a director (with equity)in a private limited company in India, what is the procedure involved?
If a Foreign national (residing outside india) wants to become a director (with equity)in a private limited company in India, what is the procedure involved?
May 20, 2007 at 9:47 am
Thank you sir, for ur suggestions… i was little confused before, but not now… thanks once again for this valuable information…
June 21, 2007 at 1:41 pm
Hello ,
Thanks for this information.
I would like to know , if foreign national wants to start service office what would be the procedure ?
June 29, 2007 at 11:09 am
http://www2.mca.gov.in/MinistryWebsite/dca/downloadeforms/eformTemplates/1030-Form1A_help.zip is not working for me. Giving network error.
July 4, 2007 at 4:56 am
Hello,
I want to know the procedure to transfer fund by a foreign national to India to set up a film productin hosue in India.
July 4, 2007 at 4:57 am
Hello
I want to know the procedure to transfer fund by a foreign national to India to set up a film productin hosue in India through me.
July 9, 2007 at 12:33 pm
hello
can you please specify the procedure for forming a subsidiary company of a Jordan based company in kerala with the sole purpose of software development. The investor is a jordan national. Whether we can start the company without an indian national as shareholder as 100% foreign investment is allowed in software development sector
paul
July 11, 2007 at 5:42 am
hi
July 11, 2007 at 5:43 am
hi,
Can u plz tell how to start a Software Testing outsourcing company in India(Chennai)
Thanks
July 30, 2007 at 7:41 pm
Really a healthy informations for all entrepreneurs. Will visit again…
Thanks!
August 21, 2007 at 3:21 am
[...] If you want to start a private limited company, you need to jump thru lot of hoops. One blogger listed all the steps involved in this process. Check out that blog post here. [...]
September 1, 2007 at 9:51 am
thankx …
really u have done a great job for provoiding such useful informative guidelines…. i am karan and i am a research scholar i have a dream project to start world number one sensor company… slowly slowly with hopes and determination i start my journey …. i am looking toward people who wish to join hand with me.
thanx
karan
September 7, 2007 at 10:55 am
dear kumaran,
hi!
thanks for your detailed information posted by you for setting up Pvt Ltd Co.which is very useful for many aspirants!
will you pl. guide me for the steps and documents required to be submitted and the application form for getting registered under RBI for setting branch office and a laison office. I’am looking for a certification co. in agriculture under service sector. our main profile is to be inspection and certification
September 17, 2007 at 10:44 am
Hi
Very interesting information! Thanks!
G’night
September 18, 2007 at 9:32 pm
sir,
I planning to open a new pvt ltd company, what is paid up capital required for.
Hope to hear you soon.
thanks
sandeep
September 21, 2007 at 8:55 am
Hi having gone hrough your specific query, if I may advise you that as per latest provisions of Companies Act, 1956 the paid up capital of the pvt. ltd. company must be Rs. 1 lakh. Upon closure of 1st financial year, your Balance Sheet must show paid up capital of Rs.1 lakh. However, it may also be noted that you need not block Rs. 1 lakh in bank A/c ur Balance Sheet can show its utilization by way of Fixed Assets or advance for the project finalization and hence its utilization.
Trust this would suffice.
Should you have any further query, feel free to contact.
Regards.
Rabin Majumder
Rabin Majumder & Associates
Advocates & Legal Consultants
Lawyers’ Chamber No. 91
Supreme Court Compound
Supreme Court of India
New Delhi – 110001
robinmassociates@yahoo.co.in
+ 91 98992 59811
+ 91 11 65955548
September 22, 2007 at 6:09 am
hi
i would like to open one pvt ltd company for software services.
pls let me know how much cost does it required and how much time to operate as legal.
i am residing in noida and wanna firm in delhi.
you can contact me on my mobile +91-9891075097
September 22, 2007 at 7:48 pm
Hi Rajant,
Fee for gettting a ltd. company depends on name search, printing and stamping of MoA/AoA, Authorised Capital and registration fee for Authorised Capital as per Sch. X of the Companies Act, 1956.
Approximately, a sum of Rs. 7000/- is for official fee, registration fee as per schedule depending upong Auth Cap. And professional fee.
As regards time taken, it ranges from 1 month to 2 months.
Please respond to my email ID if you have any further query.
September 28, 2007 at 10:11 am
Please can you pass on the inforamation of the aduitors who helps to follow up the required registration.
Thanks,
Rajan
September 28, 2007 at 10:14 am
Kumaran,
Please can you pass on the contacts of the auditors who can help to follow up with the paperwork.
Thanks,
Rajan
09880621000
September 30, 2007 at 2:11 pm
Restected Sir,
I want to start an import firm in Orissa State. Can u help in understanding the procedure as how to start an import firm in Orissa ? Please e-mail me regarding the concerned matter.
Thanks and Regards
Soumya Santosh Mohanty
0-93384-72562
October 22, 2007 at 3:26 am
thank u for your Information
October 25, 2007 at 11:41 am
Thanks for the information. It will be much more helpful to all. Nice work done.
Have a nice time and all the best for your company.
October 28, 2007 at 12:45 am
If a Foreign national (residing outside india) wants to become a director (with equity)in a private limited company in India, what is the procedure involved?
If a Foreign national (residing outside india) wants to become a director (with equity)in a private limited company in India, what is the procedure involved?
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November 5, 2007 at 11:37 am
Hi,
I reside in Noida. How will it differ if I get my company registered in Delhi instead on Noida.
Is there a significant difference in getting the registration done in Delhi V/S Noida?
Can anyone help me in this matter?
Regards,
Rohit
November 8, 2007 at 5:19 am
If a perosn is foreigner and forming a private limited company, his presnece is required in India? I mean for DIN, one need to submit resident proof, for thata a passport copies will do or one need to remain physically presnet?
Your article is really informative.
If you can please help me out for my abovementioend question, it will be really helpful.
Thanks and regards,
Tarun
November 9, 2007 at 4:40 am
Hey,
very insightful stuff. from the looks of it, thankfully lot of it seems like it can be done online - which is gr8. will defintely be useful 8 )
Keep Clicking,
Bhasker V Kode
November 11, 2007 at 6:40 pm
Hi This is Prasanna from Chennai
I have planned to start a pvt ltd company with an minimum investment. Would like to know how long its going to take to get register
Let me know
sanprasiyengar@gmail.com
November 13, 2007 at 9:36 am
the information shared here is definately very useful but i have a query that we have registered a society ie Dakshta Mahila Samiti which is registered and we are running a middle school under that registration. can i use the same registration no. to run a placement consultancy? is it necessary to repeat the same members in this committee also or i can change the members for this purpose?
let me know
November 17, 2007 at 8:08 am
You forgot about service tax registration number
November 23, 2007 at 8:26 am
1)If a Foreign national (residing outside india) wants to become a director (with equity)in a private limited company in India, what is the procedure involved?
2)If a Foreign national (residing outside india) wants to become a director (with equity)in a private limited company in India, what is the procedure involved
3) If a perosn is foreigner and forming a private limited company, his presnece is required in India? I mean for DIN, one need to submit resident proof, for thata a passport copies will do or one need to remain physically presnet?
November 26, 2007 at 10:16 am
An individual can run a private limited company.
November 29, 2007 at 12:48 pm
Thank u very much for d information
November 30, 2007 at 4:47 am
Hi Kumaran,
It’s very useful information.
I need some more information, that what is the cost involved for this procedure? Do we have any agency to followup this procedure? Appreciate, if you could answer my queries and send me a mail to for_u2004@indiatimes.com.
December 7, 2007 at 12:37 pm
[...] from here [...]
December 8, 2007 at 9:49 am
Thanks a lot for this information
Regards
Anthony Pillay
December 9, 2007 at 8:40 am
I am working for a new private limited company.
We are planning to issue new shares directly to the employees.
Will this be counted in the number of shareholders? should this also be restricted below 50?
December 16, 2007 at 5:08 am
Hi Kumaran,
Your info on procedures for creating a new company was very useful and is serving as a good starting point for me. But, after initial investigations the quote provided by a company to help start a company is very high.
What would you suggest would be the best route either “Do it ourselves” OR let a company “Do it for us”. which company would you suggest?
Thanks again.
December 16, 2007 at 5:22 pm
Hi Jacob,
Who much were you quoted for setting up the new company ?
Let us know.
December 17, 2007 at 4:35 pm
Hi KK,
I was given a quote of around 52,000 rs for DSC, DIN, incorporation process, name verification the whole process they say.
December 18, 2007 at 7:07 am
Hi,
You have done a great job in writing this piece of information.
Its very useful.Recently my friends went out to open a company and it took them 3 months to get it launched.In between,they had to fork out bribes to various people and what not!!!
December 18, 2007 at 8:15 pm
Hi,
I am practicing CA, involved in incorporation (Registration) of Limited/(P)Ltd. co. in New Delhi. anyone who is interedted in registration of a co. or need an auditor can contact me at 09810694601, 09310694601, or mail me at jprarh@gmail.com or visit us at http://www.caonline.co.in.
For Query no. 63, Prince
1. A foreign national can become director in the same manner as an Indian except that at the time of signing of MOA either he has to present in india on that day or his indian authorised signatory can sign on his behalf or can sign in his country and witnessed through indian embessy in their country.
2. DIN can be applied without his presence in india.
Query #69
Shares alloted to employees of co. will not be counted for limit of 50 members
December 22, 2007 at 7:21 am
hello sir.
i am shivanarayana.N,
i want to open one job consultancy in bangalore. it is IT/Non IT, would please suggest me what r the things need to be submit..
area is indiranagar.
thanking u
urs faithfullly.
shivanarayana.N
December 25, 2007 at 4:18 pm
i want to open a cement company in India.
January 4, 2008 at 5:59 pm
Whats the cost of starting my own pvt company if i do it on my own
January 7, 2008 at 12:45 pm
thank you for information.
i would like to making pvtltd or trust
for investing realestate/land buisness
kindly give me information how to start
this type of buisness and give me information how the co/trust collecting
investment for from the investor/small
investor
January 7, 2008 at 7:54 pm
Hello everybody,
This site is very helpful for us. I thank you everybody. I have two doubts :
- I am going to start an IT compnay in Bangalore. I am indian origin but french national. I am an OCI (Overseas Citizien of India) card holder. Can I start one company?
- My partner is purely foreigner (origin european and nationality too). Is it possible to start a company with him?
Please reply me. I need your help.
Thanks in advance.
Arthur
January 9, 2008 at 12:57 pm
Is there any regulation passed by the Companies Act, 1956 regarding the minimum limits of authorised capital of a private limited company registered in India using the word “india” in its name? If yes please specify.
January 10, 2008 at 5:45 am
Hi
Very useful information.
I have a propritership firm. Business is recruitments ( Industry IT and Banking).
we have 14 employees and plan to have 15 more in next 3 months.
I want toknow when and why will it make sense for me to make it a Pvt ltd company..
Also what will be the cost…and implications on bookkeping.
Warm Regards,
Swati Tripathi
Conjugate http://www.conjugate.co.in
Mobile: +91-9967354595
January 17, 2008 at 2:25 am
Hello kumaran,
I am Binoy Mathew from Australia,Indian Citizen,planning to open my own private limited dealing with Telephony systems business in Bangalore,India.I will need to buy systems from US and sell it to Indian companies.I have not yet registered the company in Australia.
1:Is it wise to first register in Australia and then open in India as a MNC.Or first start here in India and then register in AU.
2:What are the steps involved if I open it as a MNC.
3:Do I need to go through STPI,since i dont deal with software development or exporting.Only pure systems networking company.
4:What process and how long for these along with costs involved.
5:Since I am a Indian citizen ,Is there any restriction to open a MNC company here in India.
6:Do I need to show certain bank balances.
7:Since I have a PAN in my name,Do I need to get a TAN in my company name.
8:My company is a small company of 1-9 employees only at the moment,What are the employee related registration.
9:Any businees plans or any other useful tips.
Thanks in advance for your help.
Kind Regards
Binoy
January 17, 2008 at 2:26 am
Hello kumaran,
I am Binoy Mathew from Australia,Indian Citizen,planning to open my own private limited dealing with Telecom systems business in Bangalore,India.I will need to buy systems from US and sell it to Indian companies.I have not yet registered the company in Australia.
1:Is it wise to first register in Australia and then open in India as a MNC.Or first start here in India and then register in AU.
2:What are the steps involved if I open it as a MNC.
3:Do I need to go through STPI,since i dont deal with software development or exporting.Only pure systems networking company.
4:What process and how long for these along with costs involved.
5:Since I am a Indian citizen ,Is there any restriction to open a MNC company here in India.
6:Do I need to show certain bank balances.
7:Since I have a PAN in my name,Do I need to get a TAN in my company name.
8:My company is a small company of 1-9 employees only at the moment,What are the employee related registration.
9:Any businees plans or any other useful tips.
Thanks in advance for your help.
Kind Regards
Binoy
January 21, 2008 at 7:16 am
very nice man i was searching 4 it.
January 22, 2008 at 10:54 am
Great submissions. very usefull
January 27, 2008 at 1:25 am
Hey Folks,
The info published on this website is quite helpful & handy for all the prospective entrepreneurs of India & OCI’s. Kumaran has done a phenominal job by posting few concise/succinct points for everyone. His contribution needs to be commended. I would like to start a Pvt. ltd Co. in Pharma Sector dealing with Medical Transcription. Please help me with your Suggestions/Personal Feedbacks/Advices. I look forward to hear from you all.
Thank You All,
Sreekanth
January 29, 2008 at 7:26 pm
Dear Sirs,
Could anyone enlight the brief procedures and cost involved & time taken in amalgamation process at Delhi. What about stamp duty on merger? Our Clients wish to mmerge five different group compaies. Total companies involved in all this is twenty eight. Registered office of some of them are in New Delhi and of rest are in Chennai. Please reply.
Sudama DM
Business Consultants
Chennai/New Delhi
January 31, 2008 at 9:10 am
Query No. 87
Dear Sir/Ma’am
Please note brief procedures and incidental cost involvled as regards merger/amalgamation as per company laws in India.
Those are:
The procedure for the amalgamation of two companies has to be viewed from the Transferor and Transferee Company.
Prepare scheme of amalgamation as per requirements and get valuation reports done based on available finance details.
i) Check if MoA provide the power to amalgamate in its objects clause. If not, amend the MoA accordingly.
ii) A Board meeting shall be convened to consider and pass the following requisite resolutions:
a) Approve the draft scheme of amalgamation; b) to authorise filing of application to the court for directions to convene a general meeting; c) to file a petition for confirmation of scheme by the High Court.
iii) File first motion application to the Court for directions to convene a general meeting by way of Judge’s summons supported by an affidavit. The proposed scheme of amalgamation must be attached to such affidavit.
iv) Order on first motion.
v) Notice of Meeting, if any, to RoC, Official Liquidator, Stock Exchange, if listed company is involved.
vi) Second Motion Petition for approval of the scheme of amalgamation, a petition shall be made to the H.C. within 7 days of the filing of report by the chairman.
vii) It is to be noted that if the Regd. Offices of the companies are in same state - then both the companies may move jointly to the High Court AND in case, If the Regd. Offices of the companies are in different states - then each company shall move the petition in respective High Court for directions.
viii) Order on Second motion: Sanction of the Scheme by High Court with or without modification.
ix) Stamp Duty to be paid depends on different court procedures/state laws in India.
x) Filing of Order with RoC
xi) A Board Resolution shall be passed for the allotment of shares to the shareholders in exchange of shares held in the transferor-company and to fix the record date for this purpose.
As regards cost, that depends on case to case.
Trust this would suffice.
Rabin Majumder
Advocate & Legal Consultant
Lawyers’ Chamber No. 91
Sh AK Sen Chambers Block
Supreme Court of India
New Delhi – 110001
robinmassociates@yahoo.co.in
+ 91 98992 59811
+ 91 11 65955548
January 31, 2008 at 9:30 pm
Hi Rabin,
Thanks for the excellent information you are providing in this discussion forum.
I have a very specific question: Can an OCI (Overseas Citizenship of India) card holder start and own a business in India without going through FIPB? Are there any restrictions? From what I have been reading, the first question’s answer is yes and the second’s is no. But just wanted to ascertain it from you. How established is the process (of registering a company) in OCI cases?
If one is to register a company in Hyderabad, AP, how long is it taking generally now? Can OCI card holder get the company registered while he is still away abroad?
Appreciate your inputs.
PVR
February 2, 2008 at 9:32 am
Dear PVR,
As your query relates to OCI card holder, FDI policy would be applicable and for your information very few preoposals require FIPB permission as most of the activities are under Automatic Route.
As regards second query, registration of a company in Hyderabad would generally take 2-4 weeks. For doing so, an OCI card holder is either to be present in person or through his duly notarised and consularised power of attorney.
Trust this would suffice.
Rabin Majumder
Corporate & Commercial Lawyer
New Delhi
robinmassociates@yahoo.co.in
February 2, 2008 at 1:35 pm
Dear Mr. Majumder,
Thank you for taking your valuable time to advice us of the procedures in details.
Could you please tell us as to the aspect of stamp duty applicable after the proposed scheme of amalgamation/merger is sanctioned.
Thanking you again.
Sudama DM
Business Consultants
Chennai/New Delhi
February 2, 2008 at 1:42 pm
Query No. 86
Dear Mr. Sreekanth,
As of now, we only understand that you wish to start a Pvt. ltd Co. in Pharma Sector dealing with Medical Transcription. Please specifiy exact nature of your query so as to enable us to reply accordingly.
Rabin Majumder
Advocate & Legal Consultant
Lawyers’ Chamber No. 91
Sh AK Sen Chambers Block
Supreme Court of India
New Delhi – 110001
robinmassociates@yahoo.co.in
+ 91 98992 59811
+ 91 11 65955548
February 2, 2008 at 4:32 pm
Hi,
I am Anil Kumar from Bangalore(INDIA). I am an Engineer and I have also mastered Mainframe technology.
I am looking to start off a company on the same lines, a Mainframe technology related company. I also have couple of enthusiastic friends looking ahead to start the company, would surely appreciate if you could help me on the same lines and guide me to the right people and help me approach them to begin a new company.
It has been my dream and look forward for your help to succeed.
Will look forward for you help, awaiting for your reply. you can write me on dream.company@yahoo.com
Thanks,
Anil.
February 3, 2008 at 2:48 pm
Query No. 91
Sudama DM
Business Consultants
Chennai/New Delhi
As regards stamp duty payable after scheme of amalgamation/merger is sanctioned by the Hon’ble Court, practices and obsevations are different at different High Courts. As regards Delhi, I am of the view that its not necessary. However, its a necessary in Maharastra.
Trust this would suffice.
Rabin Majumder
Advocate & Legal Consultant
Lawyers’ Chamber No. 91
Sh AK Sen Chambers Block
Supreme Court of India
New Delhi – 110001
robinmassociates@yahoo.co.in
+ 91 98992 59811
+ 91 11 65955548
February 9, 2008 at 8:49 pm
Hello Rabin,
Thanks to info from Kumaran and you, it’s very helpful.
I am NRI based in Mumbai and am interested in starting a Company in Mumbai,
100% based in India. This will be software services company.
The steps indicated by Kumaran are clear, but will the steps/procedure
be any different for NRI ?
Thanks, Jay
February 10, 2008 at 4:24 pm
Hi Jay,
Procedures involved in starting i.e. incorporation etc. are same for all entreprenuers. But, the only thing that you being an NRI may find it little difficult is that you are required to be present in India on the date of incorporation. However, you may do away with if you execute a Power of Attorney in someone’s favour who is ordinarily resident and available in India on that day. Rest all can be taken care of by the consultant in India.
Trust this would suffice.
Rabin Majumder
Advocate & Legal Consultant
Lawyers’ Chamber No. 91
Sh AK Sen Chambers Block
Supreme Court of India
New Delhi – 110001
robinmassociates@yahoo.co.in
+ 91 98992 59811
+ 91 11 65955548
February 11, 2008 at 5:38 pm
You are great yaar. You have done really a great job. How can I show my regards and thanks to you.
All the best buddy
February 14, 2008 at 5:02 pm
Hi,
I want to start Winery project in Maharashtra . Can I start Under Pvt. Ltd. Co.
Are there is Different procedure for winery? If Yes can U help Me
Regards
Ravi
February 16, 2008 at 7:07 am
HI RAVI,
You can start your business under pvt ltd company. You can include as main object being winery project. Incase you are intereseted in knowing more about the procedure, cost and time involved, you can mail to rh @ pcsrh . com
Thanks.
puneet
February 18, 2008 at 6:25 pm
thanks for the knowlege. but i want yo know hou much expence on making pvt ltd cpmpany?
February 19, 2008 at 3:43 pm
well, it depends upon the authorised capital which you wanna keep. The minimum authorised capital is 1 lac, but there are certain rider to it i.e. if you wanna keep “india” or “Corporate” or “BPO” etc word in the name of pvt ltd then the authorised capital will be minimum 10 lacs.
February 23, 2008 at 5:16 am
Sir,
I am an employ(govt), I want to start to an export business in my wife’s name.I think I can help her in this business. Can u suggest us how to begin with. I have gone through the regulation in this site. Ramesh.
February 24, 2008 at 10:44 pm
To me it is necessary to find
February 25, 2008 at 6:36 am
How to start a pvt bank in India?
March 4, 2008 at 4:27 am
hi,
this information are very usefull, thanks alot.
currently our company would like to establish liaison office in India, and we are appointing one of the agent doing the application, but we still confuse that what they can do for us. Just want to know can we apply DIN and Certificate of Incorporaion by ourself? and how long will taken for the application.
Thanks and Regards
Tew
March 5, 2008 at 10:23 pm
Learn facts about the life insurance industry
Information on the life insurance industry
March 7, 2008 at 10:12 pm
i dont have a rely but i would like to know how joint venture works in india. i have read articles on jv but for foreign investors but i would like to know how an indian company who would like to enter into a joint venture will go about.
March 11, 2008 at 6:30 am
good information for the beginners. i am a nri recently settled in india to start my own setup.
i want to start a private limited company for import,exports and trading locally. is it must to have a office space first before the start of procedure as given by you?
cheers,
baiju,
gokuldham
kodungallur, kerala
March 15, 2008 at 1:56 pm
On the outset it looks very simple & clear, but is it really true that one can register a new company with e-governance.
March 15, 2008 at 2:00 pm
Hi we are a group of 3 engineers planning to start a new furniture manufacturing company in bangalore, could u let me know how much cost is involved for registering a private limited company.
Regards,
Srinivas A R
bangalore
March 16, 2008 at 2:29 am
How to start a banking company in india ? how many minimum persons required ? What should be the minimumcapital required to start a banking company in India ? what are the other procedures and fomalities ? From where we should get the approvals ?
March 16, 2008 at 4:50 pm
Dear Ganeshan,
Please note that no firm, group of individuals can use the term bank for any of their operations even if it resembles the operations of thant of a bank. A bank can be established on the permission of the Reserve Bank of India under the Banking Regulation Act, 1949. The RBI mandates that any banking company will need to have a minimum paid up capital and reserve of Rupees Five lakhs, if is in Mumbai or Kolkata. If the Banking company is established outside these cities, the minimum paid up capital and reserve will be Rupees three lakhs.
Best regards, Jidesh
Mob: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
March 16, 2008 at 4:52 pm
Dear Srinivsas,
It’ll cost you between INR 20-25,000 to incorporate a new company in India and to obtain your Director Identification Numbers and Digital Signature Certificates.
Best regards, Jidesh
Mob: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
March 16, 2008 at 4:56 pm
Dear Tew,
An approval for setting of a liasion office in India is normally granted by the Reserve Bank of India within 15-20 days. However, it will depend on a number of factors like the history and financial strength of your company in your home country. Also the RBI has been averse to providing quick approvals for companies from Pakistan, China and Hong Kong.
Best regards, Jidesh
Mob: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
March 19, 2008 at 5:51 am
Hi,
Thanks for this useful post.
I am plannig to open a techincal coaching center in Bangalore and later convert it into a software company.Could you please let me know, if this would be possible with one registration.
And, also please let me know any professional auditor in BANGALORE to whom I can outsource the entire registration work.
your help will be highly appreciated.
Thanks,
kumar
March 19, 2008 at 9:50 am
Hello,
I require a clarification on Appointment of Auditors.
1)When the Auditor Should be appointed for a registered company ?
2)If an Auditor has been appointed for my company during Feb means (Considering registration Happened during Jan 08)For which Accounting year the auditor should audit the company ? Is that the same year or the next Financial Year.(As we are Planning to commence teh business only from the next financial Year )
Please provide me the clarification ?
March 24, 2008 at 5:14 am
Dear Kumar,
Yes, it is possible for such conversion. However, do not forget to mention this as one of your objects in the Memorandum of Association.
In Bangalore, you can contact, Mr. B.P.Rao. His contact numbers details are B.P.Rao & Co, Chartered Accountants, No.5, Poorna Prasad Road,
High Grounds, Bangalore - 560 001.
Phone No : 22200200 / 22200201
Fax : 080 -22205030.
E-Mail : bprao@satyam.net.in
March 24, 2008 at 6:00 am
Company Auditors/ Company Secretaries in India
Dear Raja,
Every Indian company, as soon as it is incorporated and starts activities, need an Auditor. Further, the first auditor can hold office till the first annual general meeting. Pursuant to that, he needs to be reappointed or altered in the AGM.
Section 383A of the Companies Act, 1956 makes it obligatory on the part of companies, whether public or private, having a paid-up share capital of Rs 50 lakh or more to appoint a whole-time company secretary.
Proviso to sub-section (1) of Section 383A of the Act provides that companies having a paid-up capital of Rs 10 lakh or more but less than Rs 50 lakh, shall file with the Registrar of Companies (RoC), a Secretarial Compliance Certificate, duly certified by a company secretary.
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
March 26, 2008 at 1:46 pm
Hi,
I saw your details of forming a Pvt. Ltd.,
Please provide to us the details of forming a pvt Ltd. , How much expenses to forming a pvt Ltd.
I like to start a business in Real-Estates.
Please give us benefits and exemption from government to start a Real-Estate business.
Please do the needful.
Regards,
March 26, 2008 at 1:51 pm
Hi,
One of my friend he is having Pvt Ltd. concern like Takinng yellow pages.
I want to know any exemption or Benefits can be avail from govenment.
Please give me the details of NRI Funds and tell us how to promote the business.
Regards
March 27, 2008 at 9:50 am
The details given to form P. Ltd. Company are really very needful.
It will be an added advantage if all the Terms & Condition will be mentioned that to be followed after company is incorporated.
Thanks & Regards,
Vishal
March 27, 2008 at 11:44 am
Dear Rajesh,
The cost of incorporating a company is varied and depends on the authorised share capital of your company. Please feel free to write to me at my mail address below or call me on my number and I’ll be glad to advise you.
The steps involved in the incorporation process are as follows:
1. Identify the Directors of the Company. A private limited company in India can have a minimum of two (2) directors and a maximum of eight (
directors.
2. All Directors should have Directors Identification Number(DIN) and Digital Signature Certificates. - This must take between 2-4 working days (Permanent DIN must be applied alongside and will take 4-5 weeks to be issued)
3. On receipt of the DIN, we need to apply for name availability check with the Registrar of Companies by providing six (6) names in order of preference - This process usually takes 7-10 working days
4. Once the name is approved, we will need to apply for Incorporation of the Company. We need to submit the Memorandum of Association (MoA) and Articles of Association (AoA) along with the application for incorporation - stamping of the MoA and AoA takes between 2-3 days
5. This is reviewed by the Registrar of Companies and if there is no objection, a certificate of registration/ incorporation is granted within fifteen (15) working days.
6. Once you obtain a certificate of incorporation, you need to apply for a Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN) and the bank account.
Please note there are not very many incentives offered to Indian companies when it comes to real estate investment. However, one advantage is through Press Note 5, through which foreign direct investment has been allowed in Indian real estate companies both at the corporate level and also at the projects or SPV level. This gives the Indian company better valuations and added advantage of foreign brand and expertise.
Best regards,
Jidesh
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
March 27, 2008 at 11:49 am
Dear Prasanna,
Today there is a lot of financial assistance coming from outside India. This has been in the form of both equity and debt and have mainly been led by Foreign Institutional Investors, Foreign Venture Capital, Private Equity Funds, Corporate bodies, NRI’s etc.
The size and duration of existense of your friend’s company will mark a good yardstick for seeking such financial assistance. Another important yardstick is the business plan, the management expertise and vision for growth.
These are necessary factors to determine if your company is attractive for a foreign investor to invest.
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
March 27, 2008 at 11:58 am
Dear Vishal,
It is advisable for you to retain a company secretary for advising you on certain regulatory aspects. As per Indian companies Act, you are supposed to have board meetings, annual general meetings, maintain statutory registers, records, etc to continue and grow your operations. Further, you are also supposed to file certain particulars with the Registrar of Companies on a regular basis. These company secretarries come at highly reasonable costs…some times as low as Rs. 12,000 per year. Being a lawyer and advisor to many companies including start ups, I know that start ups actually ignore the regulatory part and will look at correcting them later, when they have an investor or are looking for debt. But this lack of initiative will not, generally, augur will with the investor/ lendor community. Especially because they have to comply by strict corporate governance.
It is my advise that if a company needs to grow and grow exponentially, then it needs to have a good business plan, a well regulated and protected legal document.
Best regards,
Jidesh
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
March 28, 2008 at 2:49 pm
thanks for giving such information
i have just completed my engineering and trying to start a starch industry.
could you give any important information regarding this.
please mail me on this.
March 30, 2008 at 2:55 pm
what is your location and what is your investment size. how many people are involved?
March 31, 2008 at 6:37 am
hi Kumaran,
Great piece of info, great work. i am an indian NRI wanting to start a firm in India, which is into advertising and events, i would like some info on it, some details on limited company in india, and wht would it be and the procedures to start it,
Regards
Shah
Creative Director
April 1, 2008 at 6:51 am
Hi Shah,
Where in India do you intend to start this company? Who along with you will be the shareholders and do you have any other director with you?
Best, Jidesh
April 3, 2008 at 7:19 am
dear jidesh,
1. First and foremost identify the Directors of the Company. Minimum of two directors need to present and Maximum of 8 is allowed.
can there not be just one person who is the director?
N.
April 3, 2008 at 7:39 am
Hi Naman,
No, there cannot be one director. In fact for the ease of operations, you can have 99.99% equity and have one of your family members as the other shareholder with just one share. You can also make this person a director.
Best, Jidesh
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
April 5, 2008 at 6:48 pm
Hi,
I was a partner of a partnership firm as a resident Indian national. What happens after I become an OCI? What about properties owned by the company or by me as an individual? Can I continue to own and buy any number of properties? Will I be able to secure bank loans against the firm even though one or all of its partners are OCIs?
On another note if my wife takes US citizenship and gives it up a few years later to become an Indian national, will she be able to take us citizenship later on in her life as she is wife of a us citizen (me)?
April 6, 2008 at 7:55 am
Hi Vikram,
As regards properties, you can buy all except agricultural/ plantation properties and any firm where you are a partner will require prior RBI/ FIPB approval for acquiring such properties. However, if the firm is in the form of a company, it’ll not require any approvals, but has to comply by local land and ceiling laws.
As regards your wife, the answer to your question is YES.
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
April 11, 2008 at 4:02 am
Thnx a lot it was so fruitful to us as we are about to start our own legal firm it will be more useful if you can directly assist on how to start the process and how much it will cost to open a new law firm .
With regards
Apurva Kr Sharma
Patna
+91-9415921868
+91-9835642158
+91-9956287103
April 11, 2008 at 4:06 am
Thnx any one having any information may mail or contact us to my cell no or mal id.
With Regards
Apurva Kr Sharma.
apurvakrsharma@gmail.com
April 11, 2008 at 4:37 am
Dear Apurva,
Law firms in India are always either sole proprietorship or partnership concerns. You may enter into a partnership agreement with your partners and register the same locally in Patna with the IG of Registration and Stamps. If you so require, we will be glad to assist you in draftig your partnership deed. You will also require PAN and TAN numbers for the firm in order to pay and deduct tax as per existing government regulations. You will have to write to me at my official id or call me to know the quote. I do not want to quote on a public forum.
On a separate note, it’s a pleasure to hear from you as we have a number of matters in Patna and your areas of practice will be of assistance for us to decide if we can use you on any of our client matters there.
Best regards,
Jidesh
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
April 14, 2008 at 5:44 am
Dear sir/madam
i am chezhiyan, MBA-systems 2007 graduate. We are group of friends plannig to start a own software company in chennai. I know that we dont know much better. but we have confidence and manpower. i want to know the detailed explaination about starting a software business in chennai. I hope that you will guide us.
Pl mail me chezhiyan@mail.com. I am waiting for your mail.
Thanks and Regards,
Chezhiyan.
April 15, 2008 at 4:31 am
Dear Chezhiyan,
The procedre to start a software company is the same as any other company except for the object clause in the Memorandum of Association.
Please refer to my post on incorporation of a company above. In case you have more questions, feel free to call me on my numbers below.
Best regards,
Jidesh
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
April 17, 2008 at 3:33 pm
Hi,
I am having a query about starting a new business in HYDERABAD (A.P/INDIA).It will be trading company which will be importing Goods like Soft Drinks, Juices , Energy Drinks, Non-Alcoholic Beer, Perfumes,Cosmetics and Skin Care Products…. under differt divisions.
I just want to know what all documents are required to start this business from starting point till last and who can help me for all works related to registration of company or firm,taxes like sales tax,vat…….Tin number etc…….
HOPE YOU WILL DO THE NEEDFUL…
BEST REGARD’S
KHALID
April 18, 2008 at 2:46 pm
Hi,
It’s very nice to share an authentic information which involves cost , time and effort.
I would like to buy an existing private limited company doing business in transport contract and continue the same business in the same name. What are all the documentation to be carried out? How to protect the company from any outside claim on account of erstwhile management?
April 21, 2008 at 2:47 am
Hi Marimuthu,
You will need to conduct a legal and financial due diligence on the company in order to establish wherther there is any claim and charge on the target company. It has been my experience with about 85-90% investors who invest without a due diligence that they end up in huge financial and legal mess.
Once the due diligence is performed, we will be able to reasonably establish the various representations that the directors of the targt company will have made. You can then determine whether these are material to your business. If yes, you must include them as Condition Precedent to closing of the transaction.
You will also need to enter into a share purchase agreement and shareholders agreement and alter the memorandum and article of association evidencing change in ownership.
We can refer a few financial advisors who have expertise on the financial due diligence aspects, while we can advise you on the legal aspects.
Best regards,
Jidesh
H/P: +91 9811620150
Jidesh Kumar.M.D
Managing Partner
King, Stubb & Kasiva
Advocates & Attorneys
E-66, 2nd Floor, Kalkaji
New Delhi- 110019
India
Ph : +91 11 - 41032969, 41318190, 41318191
Fax: +91 11 - 41329569
Web: http://www.ksandk.com
E-mail: jidesh@ksandk.com
April 24, 2008 at 11:58 am
Hi All,
I want to start a Pvt Ltd. company in delhi or gurgaon. The business kind would be stockbroker. I have no idea when actually I willbe starting the business but at this time I am just intersted to incorp