Procedure involved to Start a Company (Private Limited) in India

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.
 

The Road Less traveled

We college buddies(Senthil Kumar usually called as PK, and myself (Kumaran)) Alumni of College of Engineering Guindy Anna University, Chennai, of 1995-1999 batch decided to travel our rest of the journey in the Road less traveled. Yes we have decided to become entrepreneurs. We decided to start IT Outsourcing Company where we had core expertise. Many appreciated our decision of starting a company of our own. 

But we know it is not an easy job and for the next few years it is going to be challenge to get the company established well and build the brand for our company. We were ready to face the challenge and we resigned from highly paid corporate jobs to start our journey. 

We had a big struggle in identifying the right name for the company. We came up with several names but most of the names already existed and finally we decided to name it as kCube Technology Solutions , but unfortunately during registraion we did not get this name and we renamed it as kCube Consultancy Services Private Limted. kCube stands for three K’s one k for Knowledge and the next K for Kumar (of Senthil) and next K of Kumaran (my name) 

kCube Consultancy Services Private Limited was officially registered on August 9th 2006 by Registrar of Companies, Tamil Nadu Chennai. 

We launched our first version of our corporate web site on August 14th 2006. www.kcubeconsulting.com is the registered address on Internet space. 

We have started the journey and from day one we are enjoying the journey!!!!