Monday, June 30, 2008
Regarding payments
All the equity payments can be made in cash to Jubin Gandhi. The shareholders are requested to deposit their money as soon as possible.
Minutes of the meeting: 30th June,2008
Date of the meeting: 30/06/08
Place of the meeting: Dhandha office, NITIE,Mumbai
Agenda of the meeting:
1. To appoint the board of directors
2. To discuss about the possible business ideas
3. To come up with a relevant name for the company
Minutes of the meeting:
1. Director's appointment:
12 shareholders nominated. All the shareholders were asked to vote for their choice of four among the twelve nominated members. Votes are supposed to be submitted via e-mail to Jubin Gandhi by 12 noon, Tuesday, 1 st July.
2.Business plan
Each of the shareholder is required to come up with a feasible business option to be further
discussed in the next meeting. The five best among these will be selected and presented before the profs.
Members Present:
All the shareholders were present.
Next meeting:
Wednesday, 2nd July, 2008. 6:00 pm
Agenda of the next meeting:
1. Final selection of the directors
2. Selection of the b-plan
Place of the meeting: Dhandha office, NITIE,Mumbai
Agenda of the meeting:
1. To appoint the board of directors
2. To discuss about the possible business ideas
3. To come up with a relevant name for the company
Minutes of the meeting:
1. Director's appointment:
12 shareholders nominated. All the shareholders were asked to vote for their choice of four among the twelve nominated members. Votes are supposed to be submitted via e-mail to Jubin Gandhi by 12 noon, Tuesday, 1 st July.
2.Business plan
Each of the shareholder is required to come up with a feasible business option to be further
discussed in the next meeting. The five best among these will be selected and presented before the profs.
Members Present:
All the shareholders were present.
Next meeting:
Wednesday, 2nd July, 2008. 6:00 pm
Agenda of the next meeting:
1. Final selection of the directors
2. Selection of the b-plan
Sunday, June 29, 2008
Prerequisites for Opening a Company
Steps to be taken to get a new company incorporated:
• Select, in order of preference, at least one suitable name upto a maximum of six names, indicative of the main objects of the company.
• Ensure that the name does not resemble the name of any other already registered company and also does not violate the provisions of emblems and names by availing the services of checking name availability on the portal. Justification of company is required.
• Apply to the concerned RoC (Registrars of Company) to ascertain the availability of name in eForm1 A by logging in to the portal. A fee of Rs. 500/- has to be paid alongside and the digital signature of the applicant proposing the company has to be attached in the form. If proposed name is not available, the user has apply for a fresh name on the same application.
• After the name approval the applicant can apply for registration of the new company by filing the required forms (that is Form 1, 18 and 32) within six months of name approval
l
• Arrange for the drafting of the memorandum and articles of association by the solicitors, vetting of the same by RoC and printing of the same.
• Arrange for stamping of the memorandum and articles with the appropriate stamp duty.
• Get the Memorandum and the Articles signed by at least two subscribers in his/her own hand, his/her father's name, occupation, address and the number of shares subscribed for and witnessed by at least one person.
• Ensure that the Memorandum and Article is dated on a date after the date of stamping.
• Submit the following eForms after attaching the digital signature, pay the requisite filing and registration fees and send the physical copy of Memorandum and Article of Association to the RoC.
• After processing of the Form is complete and Corporate Identity is generated obtain Certificate of Incorporation from RoC.
Meetings and Audits
1. Every Company should conduct at least 1 Annual General Meeting and 4 Board Meeting.
2. Balance Sheet and Annual Returns should be maintained and filed time to time.
Board of Directors
1. At least 2 directors are required and maximum 12 directors can be there.
2. 2 Directors should have their DIN (Director Identification Number) and submit copy of digital signatures.
Registered Office
1. Registered office is mandatory in order to get notices and certificates from MCA(Ministry of Corporate Affairs).
Company Registration Stamp Duty
1. If minimum capital investment is Rs. 1,00,000 then stamp duty of Rs. 1440 is applicable.
Documents and Registration
1. PAN Number - Company
2. Service Tax Registration – Company
3. Professional Tax Registration – Directors and Employees.
4. TAN (Tax Deduction Account Number) – Company.
Other
1. Expense and Earning Details to be maintained.
2. Share certificates to be issued to all share holders (Maximum 50 Shareholders).
Note: Opening a company is easy, winding it up is costly.
Estimated Cost for Opening a Company
Company Name Registration: Rs. 500
DIN for each Director (Req. : ID proof,address,2 photos): Rs. 204 for 2 directors
Digital Signature: Rs. 4800 for 2 directors
Stamp Duty: Rs. 4896 on 1 lac capital investment.
Total Amount : Rs. 10400
Renewal of Digital Signatures - Rs.700 Every 2 years/Director
• Select, in order of preference, at least one suitable name upto a maximum of six names, indicative of the main objects of the company.
• Ensure that the name does not resemble the name of any other already registered company and also does not violate the provisions of emblems and names by availing the services of checking name availability on the portal. Justification of company is required.
• Apply to the concerned RoC (Registrars of Company) to ascertain the availability of name in eForm1 A by logging in to the portal. A fee of Rs. 500/- has to be paid alongside and the digital signature of the applicant proposing the company has to be attached in the form. If proposed name is not available, the user has apply for a fresh name on the same application.
• After the name approval the applicant can apply for registration of the new company by filing the required forms (that is Form 1, 18 and 32) within six months of name approval
l
• Arrange for the drafting of the memorandum and articles of association by the solicitors, vetting of the same by RoC and printing of the same.
• Arrange for stamping of the memorandum and articles with the appropriate stamp duty.
• Get the Memorandum and the Articles signed by at least two subscribers in his/her own hand, his/her father's name, occupation, address and the number of shares subscribed for and witnessed by at least one person.
• Ensure that the Memorandum and Article is dated on a date after the date of stamping.
• Submit the following eForms after attaching the digital signature, pay the requisite filing and registration fees and send the physical copy of Memorandum and Article of Association to the RoC.
• After processing of the Form is complete and Corporate Identity is generated obtain Certificate of Incorporation from RoC.
Meetings and Audits
1. Every Company should conduct at least 1 Annual General Meeting and 4 Board Meeting.
2. Balance Sheet and Annual Returns should be maintained and filed time to time.
Board of Directors
1. At least 2 directors are required and maximum 12 directors can be there.
2. 2 Directors should have their DIN (Director Identification Number) and submit copy of digital signatures.
Registered Office
1. Registered office is mandatory in order to get notices and certificates from MCA(Ministry of Corporate Affairs).
Company Registration Stamp Duty
1. If minimum capital investment is Rs. 1,00,000 then stamp duty of Rs. 1440 is applicable.
Documents and Registration
1. PAN Number - Company
2. Service Tax Registration – Company
3. Professional Tax Registration – Directors and Employees.
4. TAN (Tax Deduction Account Number) – Company.
Other
1. Expense and Earning Details to be maintained.
2. Share certificates to be issued to all share holders (Maximum 50 Shareholders).
Note: Opening a company is easy, winding it up is costly.
Estimated Cost for Opening a Company
Company Name Registration: Rs. 500
DIN for each Director (Req. : ID proof,address,2 photos): Rs. 204 for 2 directors
Digital Signature: Rs. 4800 for 2 directors
Stamp Duty: Rs. 4896 on 1 lac capital investment.
Total Amount : Rs. 10400
Renewal of Digital Signatures - Rs.700 Every 2 years/Director
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