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Company is a voluntary association or persons formed for the purpose of doing business & perpetual succession.

Separate legal entity Incorporated body Artificial legal person Perpetual succession Limited liability Common seal Right to own property Right to sue Right to enter in to contracts Flexibility of investment Separation of control from the ownership

the Companies Act, 1956 may be classified on various grounds as under:

On the basis of membership pattern/size Companies

Private

Public

Section 3(1) (iii) defines a private company as one which

(a) has a minimum paid-up share capital of Rs.1 Lakh or such higher

capital as may be prescribed; (b) by its Articles Association: 1. restricts the right of transfer of its share; 2. limits the number of its members to 50 which will not include:A. members who are employees of the company; and B. members who are ex-employees of the company and were members while in such employment and who have continued to be members after ceasing to be employees; 3. prohibits any invitation to the public to subscribe for any shares or debentures of the company; and 4. Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives.

1. 2.

Selection of type of the company.

Selection of name for the proposed company. Apply for Directors Identification Number and Digital Signatures. Drafting of Memorandum and Articles of Association. Stamping, digitally signing and e-filing of various documents with the Registrar. Payment of Fees. Obtaining Certificate of Incorporation. Preparation and filing of Prospectus/Statement in lieu of Prospectus and e-Form 19/20 (in case of public companies) for obtaining the certificate of commencement of business. Obtaining Certificate of Commencement of business (in case of public limited companies).

3.
4.

5.
6. 7. 8.

9.

The Company defined under section 3(1)(iv) of the Companies Act, 1956 is a public company which-

1.

Is not a private company;

2. Has a minimum paid-up capital of Rs. 5 lakhs or such higher capital as may be prescribed;

Is a private company but subsidiary of a public 3. company.

Private Companies deemed to be Public Companies Certain private companies are deemed to be public companies by virtue of section 43 A, viz.when 25% or more of its paid-up share capital is held 1. by one or more body corporate; when its average annual turnover (during the last 3 2. years) exceeds Rs. 25 crores; when it holds 25% or more of the paid-up share 3. capital of Public Company; or 4. when it accepts or renews deposits from the public after making an invitation by an advertisement.

1. Selection of type of the company. 2. Selection of name for the proposed company. 3. Apply for Directors Identification Number and Digital Signatures. 4. Drafting of Memorandum and Articles of Association. Stamping, digitally signing and e-filing of various documents with the 5. Registrar. 6. Payment of Fees. 7. Obtaining Certificate of Incorporation. 8. Preparation and filing of Prospectus/Statement in lieu of Prospectus and e-Form 19/20 (in case of public companies) for obtaining the certificate of commencement of business. Obtaining Certificate of Commencement of business (in case of public 9. limited companies).

1. Periodicity of the Board Meetings 2. Interval between two Board Meetings 3. Day of holding meeting

4. Time of holding Board meetings

5. Place for holding Board Meeting

Classification of minutes Minutes can be classified into the following three types on the kind of meeting to which they relate: Minutes of Board meetings Minutes of meetings of committee of the Board Minutes of General meetings

The term minutes though not defined in the Companies Act, 1956, may be considered as a written record of proceedings of a meeting of any Company duly kept in pursuance of the law.

Digital Signatures Director Information Number Time Frame in incorporation

What is a Digital Signature Certificate (DSC)?

Digital Signature Certificates are electronic format of physical signatures. DSC can be presented electronically to access information or services on the Internet, to prove the identity or to sign certain documents digitally.

DSC requirement? 16th September 2006 all the documents required to be filed with ROC have to be filed on portal of Ministry of Corporate Affairs at www.mca.gov.in using Digital Signature Certificate.

Who issues the Digital Signature Certificate?

A licensed Certifying Authority (CA) issues the digital signature. Various certifying authorities licensed by MCA include TCS, SIFY and MTNL etc.

Is Director Identification Number (DIN) a pre-requisite to apply for DSC?

It is not necessary that person should first have DIN number as a pre-requisite to apply for DSC. DSC can be obtained without DIN. But both DSC and DIN are required for filing any documents on portal of MCA.

What is the validity period of a Digital Signature Certificate?

The Certifying Authorities are authorized to issue a Digital Signature Certificate with validity or one or two years.

What is the legal status of a Digital Signature?

Digital Signatures have legal validity and are admitted in Court of Law for various purposes.

After complition of company formation procces You can run your company Succesfully..

Best of luck!

Thank you!
Given your valuable time..