The incorporation of a company under the Companies Act, 2013 involves several stages that ensure the company is legally formed and recognized as a separate legal entity. These stages are as follows:
The first stage is the **promotion** of the company. This involves the initial planning and decision-making by the promoters, who take the initiative to set up the business. They identify the business opportunity, gather resources, choose the type of company, and make arrangements for its formation.
The next stage is the **name approval**. An application must be submitted to the Ministry of Corporate Affairs (MCA) for reserving the company’s name through the RUN (Reserve Unique Name) service or during the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) application process. The proposed name should comply with the naming guidelines and must not be identical or similar to any existing company or trademark.
Following name approval, the **preparation and filing of incorporation documents** takes place. This includes drafting the Memorandum of Association (MOA) and Articles of Association (AOA), which define the company’s objectives and rules of operation. Other necessary documents, such as the declaration by directors, proof of registered office, identity and address proofs of subscribers, and the consent of directors, must also be prepared.
All these documents are then submitted online through the **SPICe+ form** on the MCA portal. This integrated form allows for multiple services such as DIN (Director Identification Number) allotment, PAN and TAN application, EPFO and ESIC registration, and GST registration.
Once the Registrar of Companies (ROC) examines and verifies the documents and is satisfied with the application, the **Certificate of Incorporation (COI)** is issued. This certificate acts as conclusive proof of the existence of the company. It includes the Corporate Identity Number (CIN), date of incorporation, and the name of the company.
After incorporation, the company must fulfill post-incorporation requirements such as opening a bank account, issuing shares to subscribers, and filing declarations for commencement of business.
These stages ensure that the company is legally registered and ready to operate within the framework of Indian corporate laws.
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