The Various Steps involved for incorporating a Se...

The Various Steps involved for incorporating a Section 8 company: (1) The promoter of the proposed entity needs to apply to the Ministry of Corporate Affairs for reservation of name. (2) Once name is reserved, an application will be made for obtaining licence in Form No. INC 12. The application in the form shall be accompanied by the following documents: The draft memorandum and articles of association of the proposed company (Form No. INC-13) the declaration in Form No. INC-14 will be signed by an Advocate, a Chartered Accountant, Cost Accountant or Company Secretary in practice, that the draft memorandum and articles of association have been drawn up in conformity with the provisions of section 8 and rules made there under and all the requirements of the Act and the rules made in relation to registration of the company under section 8 and matters incidental or supplemental thereto have been complied with; an estimate of the future annual income and expenditure of the company for next three years, specifying the sources of the income and the objects of the expenditure; the declaration by each of the persons making the application in Form No. INC. (3)  After obtaining the license number, applicant can proceed further to incorporate a company by filing e forms SPICe. (4) The incorporation procedure can be carried out through eForm SPICe (INC-32) which  deals with the single application for reservation of name, incorporation of a new company and/or application for allotment of DIN and/or application for Permanent Account Number and TAN. This eForm is accompanied by supporting documents including details of Directors & subscribers, Memorandum of Association and Articles of Association etc. (5) Once the eForm is processed and found complete in all respect, company would be registered and a CIN would be alloted. (6) Also DINs gets issued to the proposed Directors who do not have a valid DIN. Maximum three Directors are allowed for using this integrated form for filing application of allotment of DIN while incorporating a company. Also PAN and TAN would get issued to the Company.