CHartered Accountant in India - Company Formation General Info

Chartered Accountant in India services in this category include :
   - Incorporation of companies, trust & societies
   - Winding up proceedings of defunct companies,trusts & societies
   - Incorporation of public & private limited companies, trust and societies
   - Setting up for branch offices
   - Setting up for liaison offices

Company formation in Delhi is governed by the provisions contained in The Companies Act of 1956. The company form of organization is being preferred as being suitable by more and more business firms, particularly for setting up medium and large sized organizations. Company incorporation in India involves several steps which are explained here under. Company registration process involved in company registration in Delhi are required from the time a business idea originates to the time, a company is legally ready to commence business are referred to as stages in the company formation in India. It is advisable to avail the services of Indian company lawyer for the company formation in Delhi.

At Neeraj Bhagat & Co. Chartered Accountant in Delhi, India, we offer advice on corporate structuring and conduct review of the long-term and short-term strategy of our clients. Our professionals have years of experience to share with our clients and they assist them to manage the whole company in an efficient manner.

We offer our services in winding up of companies, trusts and societies. We take care of all the legal procedures and manage them on behalf of our clients. We work in close proximity with our clients and then understand the next nature of requirement. "Effective solution finding" is our next and immediate step.

Companies Act

Any company either incorporated or registered in India are governed by the Companies Act 1956.

Shareholders and Directors

To appoint local director is not required while incorporating a company in India.

Foreign nationals may also incorporate company in India and may hold foreign equity up to 100%. This of course depends upon the sector in which the company will operate and is subject to the approval from either the Reserve Bank of India (RBI) or the Foreign Investment Promotion Board (FIPB).

Memorandum & Articles of Association

The Memorandum of Association (MOA) states the main, ancillary or subsidiary along with other objects of the proposed company. The Article of Association (AOA) covers the rules and procedures for the routine conduct of the proposed company, the authorized share capital of the proposed company and also the names of its first or permanent directors. Thereafter, both MOA and AOA are required to be stamped. A stamp duty, depending on the authorized share capital, is to be paid on both.

Share Capital

Shares should be expressed in fixed amount. Shares like "No par value" or "bearer" are not permitted and the shares to be subscribed should be expressed in Indian rupees.

Accounts & Auditors

Each company is suppose to appoint an auditor annually at its AGM. The auditor must be qualified by virtue of the Institute of Chartered Accountants of India Act 1949 and should be completely independent of the concerned company. The audited accounts of the concerned company serve as a tool for various stakeholders like creditors, investors, bankers and revenue authorities.

Public Filings

The names and all the required personal details of the directors and secretary, share capital, register of charges, registered office address, and other such particulars should be filed with the Companies Registry for any public inspection upon incorporation and if there is any change thereafter.

Annual Meetings

An Annual General Meeting (AGM) is mandatory to be held once in every financial year and not more than 6 months after the end of the financial year. For a new company it is not required until 18 months of its incorporation.

Copyright © 2014 Neeraj Bhagat & Co. Chartered accountants All Rights Reserved .Developed by specialist