How to start a private limited company?
Dwij
(Querist) 14 June 2008
This query is : Resolved
Hi,
I have to fill form 1A at MCA for registration of name a company.
I want to start a private limited company that deals with investments in share market (Mutual Funds etc).
What all do I need to do for this ? what should be my objectives to be filled in Form 1A. Thanks.
Dwij
Guest
(Expert) 16 June 2008
For name application, you donot need to worry about all thse things.
You first check the names avaialbe to you in the website. If the name you want is available , then get the name.
After getting the name, you will need to draft the Objects. The name and objects must be connecte3d to the business proposed to be carried on.
Manish Singh
(Expert) 16 June 2008
After getting your name available for your use ( after filing the first part of Form 1 A AND getting intimated within 15 days by the registrar), you need to prepare & file Memorandum of association & article of association which shall be attested and approved by a practising CA or an advocate entitled to practise in any HC.
incorporate each and every objects, incidental objects etc, share capital of you company in the MoA.
GET IT PREPARED BY some corporate lawyer.
Dwij
(Querist) 16 June 2008
Hi,
Thanks for the reply. I had submitted my Form 1A at MCA online but it got rejected saying please clarify the objectives of the company. I had stated that the company would be dealing with long term and short term investments. I had not mentioned stock market in it. Should I mention that I want to invest in stocks ? The company might invest in real estate as well, so please suggest what should I fill in Form 1A as of now. I would get my other papers prepared by a coorporate lawyers (MoA, AoA etc).
They have given me this month to resend my application with the same SRN. Thanks !
Dwij
Manish Singh
(Expert) 16 June 2008
yes, you mention each and every objects of your company's business or trade in that form if asked for.
Dwij
(Querist) 16 June 2008
Hi,
Ok i would mention each and every object of the company's business. Thanks.
What else I wanted to know was, would mentioning these objectives of mine, bind me to these objectives ? that is, if I mention I would be investing in Stocks and real estate, then I, as a company, will have to do business in those areas only ? Or would it be governed by MoA and AoA ?
Are there any other complainces that i would have to meet to be able to invest in Stock market ? Thanks a lot. This probably would be my last querry on this topic. Thanks again !
Dwij
Manish Singh
(Expert) 16 June 2008
Look, you are goin to be governed by your MoA. You can even amend ur MoA at a later stage(thisis a bit legnthy). AoA HAS NO ROLE TO PLAY IN THE OBjects of ur business.
But segistrar must be asking for all those to encertain the name availability in that area of trade so that it wont be deceptive to some other name.
So, write down each and every object which shall be your initial course of business.
Dwij
(Querist) 16 June 2008
Thanks Manish.
All my doubts stand cleared now.
I will bug you later when I am done with name approval :-)
Dwij
