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Formation of a company
The major steps in formation of a company are as follows:
1
...
Registration stage
3
...
Commencement of Business stage
Promotion Stage: Promotion is the first step in the formation of a company
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In this stage the ideas are executed
...
2)Perform a feasibility study and determine the economic, technical and legal aspect of executing the
business
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Registration stage: Registration stage is the second part of the formation process
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A company is said to be in existence, if it is registered as per the Companies Act, 2013
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There are several steps involved in the registration phase, and are as follows:
1)Memorandum of Association: A memorandum of association (MoA) must be signed by the founders
of the company
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The MoA must be properly registered and stamped
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All
members who previously signed MoA, should also be signing the AoA
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4)Directors of the company should provide a written consent agreeing to be directors, should be filed
with the Registrar of Companies (RoC)
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6)A statutory declaration should be made by any advocate of either the High Court or Supreme Court, or
a person of the capacity of Director, Secretary or Managing Director
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Certificate of Incorporation: Certificate of incorporation is issued when the registrar is satisfied with
the documents provided
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Certificate of commencement of business: Certificate of commencement of business is required for a
public company to start doing business, while a private company can start business once it has received
the certificate of incorporation
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Once all the minimum number of required shares have
been subscribed, a letter should be sent to the registrar along with a bank document stating the receiving
of the money
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This certificate is
known as certificate of commencement of business
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