Registering A Pvt. Ltd. Company In India - Experiences

Registering a pvt. ltd. company in India now a days is actually a simple process. The overall process is as follows -

• Obtain a DIN aka Director Identification Number. Anyone can apply for a DIN even if you haven't started a company yet. I think it only takes about Rs. 100 to register your DIN.
• Prepare the AoA & MoA documents. A chartered accountant will help you with the templates or you can do them on your own. You'll need a company secretary to help you understand what these documents are and what to put in them to legally run your business.
• Go to MCA (Ministry Of Corporate Affairs) portal and you'll have everything you need to get started.

For CrazyEngineers, we registered the company through a Chartered Accountant who helped with all the details. The whole process took about 20 days before getting 'CrazyEngineers Technologies Pvt. Ltd' registered with the MCA.
If you registered a company with MCA, share your experiences 😀 Posted in: #Coffee Room

No experiences? Well what about a proprietorship or a partnership firm? I'm quite sure we've at least a few entrepreneurs here willing to share your experiences?

Going through it, makes me go for it now!

abhijeetkhan

Going through it, makes me go for it now!

Do share your experience once you start the process.

sure! what is the cost involved in the entire procedure?

Hi everyone,

This is my first post on CrazyEngineers 😀

I don't know how thrilled I am to find a first hand account of someone registering a company as opposed to people writing about the general procedure involved.

@The_Big_K, I am assuming you registered 'CrazyEngineers Technologies Pvt. Ltd' with MCA recently even though the website itself is old. So, this might be through the recently initiated online route which is supposed to take about 24 hrs after the initial groundwork is done. So, I am assuming it typically takes 20 days to register a company with MCA if we take the online route. Is that right? Or am I missing something?

Now, a brief background of myself and my about-to-be-born venture. I am an engineer who took a misstep and joined and MBA programme. With not much harm done, I am coming out and will be registering my company in the energy sector.

I'll have to wait till next month to go home and start the process. Waiting for updates from others till then.

@superfan: CrazyEngineers.com came to life on November 26, 2005 as a hobby website which grew to become a business. The company was registered with MCA, India on December 1, 2009.

I'm not aware of recent developments and whether the procedure has been simplified through online filing. I should have done the procedure all by myself, but decided to do it through a friend (who's a CA). But then, I was told that it'd have been much cheaper and faster had I done it all by myself 😀

It's okay to get MBA; we learn from mistakes, don't we? 😉 . Keep us updated about your experience so that it will benefit our fellow entrepreneurs.

Thanks for the info The_Big_K.

There was talk about simplifying the procedure. Apparently it was not.

Thanks for the consoling words 😉

abhijeetkhan

sure! what is the cost involved in the entire procedure?

I registered the company back in 2009 and the overall cost of incorporation was about Rs. 14k. That cost involved the agent's fee as well; so I can't tell for sure what's the cost of incorporation, if you do it on your own.

You should straight away apply for the DIN (Director Identification Number) - the process will take about a month (or sometimes, less). But that step is the basic minimum before you think about incorporating your company.

But be very clear with the objective of incorporation. It's easier and faster to register a partnership firm or proprietorship firm than registering a private limited company.

Indian Government has recently launched "One Person Company" initiative which might be incredibly useful. Do explore that option as well. Keep us posted about the costs that you incur.

thanks a lot! i've been talking to people in the field.. taking suggestions and ways to move ahead with it. will be posting my progress soon!

abhijeetkhan

thanks a lot! i've been talking to people in the field.. taking suggestions and ways to move ahead with it. will be posting my progress soon!

👍 All the best!

thanks!!! 😁

abhijeetkhan

thanks!!! 😁

I inquired different sources and current minimum cost of incorporation in India seems to be about Rs. 13k. It includes

1. Memorandum of Association
2. Articles of Association
3. PAN
4. TAN
5. DIN
6. Digital Signature

The_Big_K

I inquired different sources and current minimum cost of incorporation in India seems to be about Rs. 13k. It includes

1. Memorandum of Association
2. Articles of Association
3. PAN
4. TAN
5. DIN
6. Digital Signature

thank you!! i'll get into the documentation soon! probably would go for proprietorship as most of the people i talked to have suggested me the option. would be updating this thread with whatever updates i get!

abhijeetkhan

thank you!! i'll get into the documentation soon! probably would go for proprietorship as most of the people i talked to have suggested me the option. would be updating this thread with whatever updates i get!

I'd recommend exploring "one person company" option.

yeah i read that document! pretty impressive.. will have a take on that too!

we are going to do this........................😉

VIKAS CHOUDHARY

we are going to do this........................😉

Keep us posted about your experiences and the overall costs that you incur. It would certainly help a lot of budding entrepreneurs here 😀

WE ARE SETTING UP AN ONLINE VENTURE & THEN SURELY SET THAT UP .......................

got in touch with a few more people, One Person Company is the most hassle free option if you are planning to go big. Since it is owned by just one person, no partners, etc. The power is centrally held and decisions can be taken without disputes (on the top level atleast). In process of preparing the documentation.

abhijeetkhan
Did you get an estimate of the costs involved in the formation of one person company?

no cost details yet. I had a talk about the feature with a few friends pursing CA. Had a talk with a professional today, she said, at a practical level nobody does register a OPC firm.
Reason: Clauses have been modified for a single person, but the features under those clauses are the same. So it turns out to be a mess inside. Not recommended.

Hi This is Ranvijay Singh from Sicobe. As the discussion is in concern to the job profile I take care of. We are a Delhi based total business solutions company. We help entrepreneurs in their Business Incorporation, Legal formalities and Business Consultation.

So far the time period to register a company is concerned in India is almost 7- 10 working days. But this totally depends on the availability of the proposed name.
As Administrator has mentioned above.
Now a days DIN can be processed in two ways. The first which is processed from MCA DIN Cell and the second, when a practising professional approves the DIN after verifying all the docs. DIN can be taken in minutes based on the second procedure.

DSC (Digital Signature Certificates) are issued by the Authorized Certificates providers like, MTNL Trustline, eMudhra, Tata Consultancy Services. DSC can be taken in approx 4-12 hrs.

Now on the third step of incorporation atleast 2 DIN & 1 DSC are required to send name approval application. Name approval can be taken in two ways. The first which is approved by the registrar of companies that takes around 2-4 working days and the Second one is STP (System Through Process), that takesn few minutes based on search report prepared by a Chartered Accountant.

Then MOA & AOA is drafted and filed with FORMs - 1, 18, 32.

Just posting an update here. I found this video to be highly informative:



He takes you through every process step by step. It will be wise to keep a pen and paper handy and note down the key points.