How To Form Your Own Company | Reema Baruah MCom LLB

The formation of a company in India is a complex and time-consuming process. The Companies Act, 2013, sets out the requirements for forming a company in India. The process can be divided into the following steps:

1. *Choose the company type*

The first step is to choose the type of company that you want to form. There are two main types of companies in India: public companies and private companies. Public companies can raise capital from the public through an initial public offering (IPO). Private companies can only raise capital from their shareholders.

2. *Choose the company name*

The next step is to choose a company name. The name must be unique and cannot be the same as the name of any other company in India. You can search for available company names on the website of the Ministry of Corporate Affairs (MCA).

3. *Draft the Memorandum of Association (MoA)*

The MoA is a document that sets out the basic rules and regulations of the company. It must be signed by all the subscribers to the company's memorandum of association.

4. *Draft the Articles of Association (AoA)*

The AoA is a document that sets out the internal management structure of the company. It must be signed by all the subscribers to the company's memorandum of association.

5. *Appoint the directors*

The directors are the governing body of the company. They are responsible for the overall management of the company. The directors must be natural persons who are at least 18 years old.

6. *Appoint the company secretary*

The company secretary is responsible for the compliance of the company with the Companies Act, 2013. The company secretary must be a qualified person who has been registered with the Institute of Company Secretaries of India (ICSI).

7. *File the incorporation documents with the MCA*

Once the above steps have been completed, you can file the incorporation documents with the MCA. The incorporation documents include the memorandum of association, the articles of association, and a declaration of compliance.

8. *Obtain the certificate of incorporation*

Once the incorporation documents have been filed with the MCA, the company will be registered and you will be issued a certificate of incorporation. The certificate of incorporation is the proof that the company has been incorporated.

The formation of a company in India is a complex and time-consuming process. However, by following the steps outlined above, you can ensure that your company is formed correctly and in accordance with the law.

Here are some additional tips for forming a company in India:

Get professional help. The formation of a company is a complex process and it is advisable to get professional help from a lawyer or a company formation service provider.
Do your research. Before you start the process of forming a company, it is important to do your research and understand the requirements of the Companies Act, 2013.
Be patient. The formation of a company can take several weeks or even months. Be patient and be prepared to work with the MCA to ensure that your company is formed correctly.