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Biplab Mondal Asks:

PLEASE INFORM ME ABOUT DETAILS OF THE COMPANY FORMATION, FEE PROCEDURE, TOTAL EXPENSE ETC & DURATION OF COMPLETION.

Reply From Companysetup:

Dear Sir,

 

Many thanks for taking interest in our services. For incorporation of a private limited company anywhere in India having authorized capital of Rs. 1,00,000/- with two resident Indian directors we charge Rs. 14,999/- (all inclusive) [ Rs. 4,999/- towards professional fees plus Rs. 10,000/- towards govt fees & all sort of out of pocket expenses]. We will form your company in almost 7 working days from date of receipt of documents and payments. We take an advance payment of Rs. 4,999/- before starting the process and balance Rs. 10,000/- to be paid after approval of company's name but before submission of final documents & govt. fees. There are no hidden charges beyond our quoted amount. We hope you will find terms suitable to you.

 

Our quoted fees is inclusive of followings:-

 

 1)  All Sort of Government Fees.

 2)  Director Identification Numbers (DIN) = 2 Nos.

 3)  Digital Signature (DSC) = 1 No.

 4)  Checking availability of company's name/s.

 5)  Getting approval of name of proposed company.

 6)  Drafting of MOA & AOA (By-Laws) and getting approval.

 7)  Printing of Final Memo & Articles (By-Laws) = 50 copies.

 8)  Stamping of MOA & AOA.

 9)  Representing you before Registrar of Companies.

10) Obtaining Certificate of Incorporation.

 

Now a days, the process of incorporation is undertaken online therefore your all documents are needed in soft copy (scan) through E-mail .

 

Following documents/ information are required initially from your end:-

 

1) PAN Card of proposed directors with self attested.

2) Proof of Address of Directors (Latest Bank Statement or Telephone Bill within a period of 2 months/ Driving License/Passport/ Voter identity Card etc) with self attested.

3) Qualification of the proposed directors.

4) Passport size photograph (Soft Copy in JPEG format).

5) Proposed 1+5 name for the new company.

6) Description about the main object of the company.

7) The Affidavit from the directors in non judicial stamp paper worth Rs 10/- and must be notarized ( the format will be sent by us at later stage).

8) The complete registered address of the company, if :

- own by the directors(NOC from director along with the consumption bill, like electricity bill,telephone bill,etc)

- own by other than director(rent agreement, NOC along with consumption bill, like electricity bill,telephone bill,etc from  owner).

9) Nearest Police Station to the registered address(Name & Address).

 

We hope to clarify everything about information that may required by you. Kindly revert back suitably if you need any clarification/ information in this regard.

 

With kindest regards,

 

Kanika Rawat

companysetupindia.com

316-317, Vats Market, Adj. Shiva Market,

Madhuban Chowk, Pitampura, New Delhi-110034, India

Tel: +91-11-41117200 (20 Lines), +91-11-41117201 (Direct)

Fax: +91-11-45076210.

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Biplab Mondal Asks:

 

Dear Madam,

 

I read your mail and in this regard I would like to say that I am keen interested to setup a PUBLIC LIMITED COMPANY. But madam is there any way that I can issue redeemable preference share or debenture to raise the company fund? Please state me in details.

On the other hand Money marketing is one kind of big business in India today and this is my second choice. Many people take it in different ways. But I from my end, I want to utilize the fund for the development of company business in return of the expected benefit of the customers. So I am interested in forming of money marketing company too. So, I am requesting you to provide me prior information so that my business can be developed by either forming chit fund company or in a simple way of forming only a public limited company or setting up micro-finance company.

 

My thinking and plans are stated you in details but I will contact you after I get the assurance from you and then I will provide you the primary business details of our company and the documents you need for the process.

 

Thanks & Regards

 

Biplab Mondal
 

Reply From CompanySetup:

Dear Sir,

 

Good day !

 

U/s 80 of the Companies Act 1956, an unlisted public company may issue redeemable preference share which should be redeemed within a period of twenty years . The following are the process to issue the redeemable preference share:

 

1)      Increase the authorised capital of the public limited company from the minimum limit of Rs. 5 Lac.

2)      The article of association of the public limited company must authorize the issue.

3)      A notice must be issued for the general meeting along with the explanatory statement which contain several matter regarding the issue such as the price, objectives, the class of person to whom the issue has been made, proposed time when the allotment is completed etc.

4)      A special resolution required to be passed by the members of the company u/s 81 (1A) authorizing the board for issue of the same.

5)      The statutory auditor / the company secretary of the issuing company shall certify that the issue is made in accordance with the company rules which is to be produced in the general meeting.

 

Regarding the issue of debentures an unlisted public company may issue the same.

 

1)      First of all a Board meeting is convened at which the decision to issue debentures, the number and terms of issue and the rate of interest is taken by means of a resolution to that effect.

2)      It is necessary that the total value of debentures including other borrowings should be well within the borrowing limit fixed by the shareholders by the resolution under Sec 293(1)(d) of the act.

3)      In case the debentures are issued under a Trust Deed, necessary consent of trustees is obtained and a draft of Trust Deed is prepared. A draft of prospectus and the Debenture Bond is also prepared.

4)      After the completion of these formalities, the Board approves the drafts of prospectus, Trust Deed and debenture bonds and directs the secretary to arrange for their printing.

5)      The Trust Deed is then executed with the trustees for debenture holders.

6)      Only secured debentures will be permitted for issue to the public. The particulars of the charges created on the issue are to be filed with the Registrar of Companies within 30 days of the execution of the Trust Deed for registration and a Certificate of Registration is obtained. This Certificate is to be endorsed on every Debenture Certi­ficate. All particulars are also entered in the "Registrar of Charges" maintained by the company at its registered office.

7)      A copy of the prospectus is then filed with the Registrar and the Prospectus is issued to the public. In case the debentures are to be issued privately (without making a public offer) a statement in lieu of prospectus is to be filed with the Registrar at least three days before the first allotment of debentures.

8)      After the allotment, the particulars about each debentures are entered in the Registrar of Debenture-holders and Deben­ture Certificates are prepared which are issued to the Allottees in due course.

 

Regarding  Chit fund Companies operating in Delhi as a practice, first obtain a certificate of incorporation from the Registrar of Companies.
(A) Requirements for registration of New Co. with Registrar of Chit Fund, New Delhi.
After getting this certificate, you can apply for registration of first Bye-laws of the company with Chit Fund Department., Govt. of N.C.T. of Delhi, 13th floor, Bikri Kar Bhawan, I.P. Estate, New Delhi 110 002 (Tel. No. 331 8992)

a) Memorandum and Articles of Association.
b) Incorporation Certificate.
c) Form No. 2 regarding shares allotment.
d) Form No. 18 regarding registered office. 
e) Form No. 32 regarding appointment of Directors.
f) R.O.C. Receipt for filing of form No. 2, 18, 32.
g) Bank certificate for deposit of Rs. 10,00,000/- as paid-up capital.
h) Resolution for appointment of foreman of the company.
I) Affidavits of the Directors regarding:-

1. Age, good health and sound mind.
2. Insolvency.,
3. Non-conviction.
4. Membership/Directorship in other chit fund company.

j) Proof of ownership of the office premises.
k) No objection certificate from the landlord.
l) Rent Receipt of premises.
m) Lay out plan of premises.
n) Photo-copies of Ration Cards of the Directors.
o) Photographs of all the Directors duly attested.
p) Papers regarding financial soundness of the Directors.

1. Proof of property, if any.
2. Assessment order, if any.
3. Balance sheet(s) of the company whether partnership or proprietorship.
4. Other financial documents.

q) Form CF-1 in duplicate (application for registration).
r) Bye-laws in duplicate.

We hope we clarify everything about information that may required by you. Kindly revert back suitably if you need any clarification/ information in this regard and also submit the documents to start the process.

 

 

With kindest regards,
CA Pradeep Mallick

info@companysetupindia.com
316-317, Vats Market, (Adjoining Shiva Market)
Pitampura, New Delhi-110034, India
Tel: +91-11-41117200 (20 Lines), 41117202 (Direct),Mobile: +91-09310277186
[You may call us during Indian Time 09:00 am to 07:00 pm GMT+05:30]

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