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Application For Availability of Name
for a New Indian Company
The first stage of incorporation of a company in India is to get
a name approved by the concerned Registrar of Companies. Before
taking this first step, you will need to take the following decisions:
Public / Private
A private limited
company must have at least two shareholders and can have at the
most fifty shareholders. A public limited company must have at
least seven shareholders. There is no limit on maximum number
of shareholders that a public limited company can have. Subject to
some restrictions, a public limited company can invite members of
public to become shareholders while a private limited company is
prohibited from issuing such an invitation. A private limited company
may be converted into a public limited one after complying
with some formalities.
Main Objects
What will be the area
of operation of the new company? For example, will it work in the
field of software or foods or hotels?
Initial Shareholders / Directors
Who will be the shareholders of the
new company at the time of incorporation? Please note that
in case of shareholders who are not residents of India, signatures have
to be attested by Indian consulate in the country of residence.
To avoid this hassle, it is often suggested that to begin with,
the company is incorporated with resident shareholders.
As soon as the company is incorporated, resident shareholders
transfer their shares to non-residents. Shareholders of the company
at the time of incorporation include its
first directors.
On special request,
Anil Chawla and Associates may ask some of their friends /
associates to act as shareholders in your company on a
short-term basis. Charges for this service are extra.
Registered Office
You have to decide the state in which
the registered office of the company will be located. Some statutory
records of the company have to be maintained at the registered office.
This does not restrict the area of operations of the company. An Indian
company can maintain a head office in any state and can open as many
branch offices as it wants. It is cumbersome to shift the registered
office from one state to another.
Authorized Capital
Authorized Capital indicates the maximum
share capital that a company will have. This may be increased by paying
the prescribed fees. Paid-up capital may be less than or equal to the
authorized capital of a company. There is no minimum percentage of
authorized capital that must be paid up. Some words are allowed to be
used as part of the name of a company only if the authorized capital
is above certain minimum amount. This is to prevent small companies
from trying to project a large image.
Four Alternative Names
Four alternative names have to
be given in order of preference. Registrar does not permit a name, which
is similar to the name of an existing company. A company's name
should reflect the business of the company.
It should end with "Private Limited" or "Limited" depending on whether
the company is private or public.
If you have taken the above decisions, please fill the form below. In
case there are any points on which you are not clear, please leave that
space blank and write your query in the space given for comments.
As and when we receive your form, we shall get back to you. If we
have the complete information that is required, we shall advise you
to send us the required money (USD 45). Please do not send
any money till you hear from us.
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