Group 7

ABHISHEK PRAKASH
NUPUR SURI
YASH NANDKEOLYAR
NAMI PATNI
SHUBHAM SHARMA
GAURAV DHINGRA

Project Report Semester 1

Minimum Requirement of a Private Company:

Minimum 2 Shareholders
Minimum 2 Directors (The directors and shareholders can be same person)
Minimum Authorised Share Capital shall be Rs. 100,000 (INR One Lac)
DSC (Digital Signature Certificate) for all the Directors (for applying of DIN)
DIN (Director Identification Number) for all the Directors

A. To incorporate a private limited company, the following documents are required:

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.

DSC (Digital Signature Certificate)

DIN (Director Identification Number) of each director (Form DIR 3)
Declaration of the appointee Director, in Form DIR-2
Form INC -1 for application of name, using Digital Signature Certificate (DSC)
Memorandum and Articles of Association
eForm INC 7
DIR 12
INC 22
Specimen Signature and Photographs of every Subscriber (From INC 10)
Declaration in Form No. INC-8 by Professionals.
INC 9 must be on Stamp Paper, Value of Stamp Paper as per the State stamp Act.
Proof of residential address
NOC in case there is change in the promoters (first subscribers to Memorandum of

14.
15.
16.
17.
18.
19.

Association)
Proof of Identity
Entrenched Articles of Association, if any.
PAN Card (in case of Indian national)
DIR 12 for giving details of Directors:
INC 22 for giving details of Registered Office
List of all the companies (specifying their CIN) having the same registered office address, if
any

B. Draft copies of documents (highlighted above in bold):

Please refer annexure

C. Process of E-Filing of the necessary documents

1. Select a category to download an eForm from the MCA 21portal (with or without the
instruction kit)
2. At any time, you can read the related instruction kit to familiarize yourself with the procedures
(you can download the instruction kit with eform or view it under Help menu).
3. You have to fill the downloaded eForm.
4. You have to attach the necessary documents as attachments.
5. You can use the Prefill button in eForm to populate the grayed out portion by connecting to
the Internet.
6. The applicant or a representative of the applicant needs to sign the document using a digital
signature.
7. You need to click the Check Form button available in the eForm. System will check the
mandatory fields, mandatory attachment(s) and digital signature(s).
8. You need to upload the eForm for pre-scrutiny. The pre-scrutiny service is available under the
Services tab or under the eForms tab by clicking the Upload eForm button. The system will
verify (pre-scrutinize) the documents. In case of any inadequacies, the user will be asked to
rectify the mistakes before getting the document ready for execution (signature).
9. The system will calculate the fee, including late payment fees based on the due date of filing,
if applicable.
10. Payments will have to be made through appropriate mechanisms - electronic (credit card,
Internet banking) or traditional means (at the bank counter through challan).
i. Electronic payments can be made at the Virtual Front Office (VFO) or at PFO
ii. If the user selects the traditional payment option, the system will generate 3 copies of
pre-filled challan in the prescribed format. Traditional payments through cash, cheques
can be done at the designated network of banks using the system generated challan.
There will be five banks with estimated 200 branches authorized for accepting challan

payments.
The payment will be exclusively confirmed for all online (Internet) payment transactions using

payment gateways.
11. Acceptance or rejection of any transaction will be explicitly communicated to the applicant
(including facility to print a receipt for successful transactions).
12. MCA21 will provide a unique transaction number, the Service Request Number (SRN) which
can be used by the applicant for enquiring the status pertaining to that transaction.
13. Filing will be complete only when the necessary payments are made.
14. In case of a rejection, helpful remedial tips will be provided to the applicant.
15. The applicants will be provided an acknowledgement through e-mail or alternatively they can
check the MCA portal.

D. To start a business, the public company needs a certificate of commencement of business after
incorporation, whereas a private company can start its business just after receiving a certificate of
incorporation.
They need to attach form INC 21 for a declaration of compliance by the directors of the company
under the provisions of the section 11 under the Companies Act 2013