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Introduction to Company Incorporation Process
Incorporation of any company refers to each of the legal procedures used to set up a company or a corporate entity. Indeed, an incorporated company thus formed is a separate corporate legal entity of its own recognized according to the Company Law. These corporations may have ‘Limited’ or any other similar terms in their company names.
However, to become a separate corporate legal entity, potential company owners have to fulfill certain requirements (file different forms) according to the latest Company Law I.e. Company Law 2013.
Amendments as per the Companies Act 2013
While stepping ahead through the Companies Act established in 1956 to the Companies Act of 2013, we found each of the provisions changed with the launch of the new act of 2013. Accordingly, the Central Government has introduced drastic changes or amendments related to the procedures of company incorporation during the last few years.
Hence, if you are looking for steps involved in the company incorporation process, you have to collect valuable pieces of information associated with the key aspects of the company incorporation amendment, which include-
Company Incorporation Amendment Rules
- Applicability Vs Non-Applicability of an Incorporated Company
According to applicability aspect of the company incorporation procedure, any company acquires before or on 31st of December 2017 should compulsorily file its particulars and its respective registered office in an electronic form of INC-22A ACTIVE. Here, ACTIVE is the acronym for Active company Tagging Identities and Verification.
However, if your company categorizes under any of the following ones, you do not have to file the electronic form of INC-22A ACTIVE. Instead, only online company registration in India, which you have already done during the establishment of your business venture is sufficient. These are-
- Companies under the process to strike off
- Companies already struck off
- Companies suffering liquidation
- Dissolved companies
- Amalgamated companies
- Prerequisites to Step for Companies Incorporation Amendment
Before you step ahead to fulfill the requirements related to company incorporation process i.e. file INC-22A ACTIVE, you have to file either or all of your pending forms as it is applicable-
- Filing your financial statements for the previous financial year, i.e. form AOC-4
- Filing of your annual return for the last financial year i.e. e-Form of MGT-7
- Besides the aforementioned two requirements, you have to file 2 special forms to appoint any full-time company secretary i.e. form MR1 and form DIR. However, these two forms are mandatory for all companies with more than 5crore of paid-up capital.
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- Consequences related to Non-filing of Amendment Forms
The Ministry of Corporate Affairs will mark the company as Active non-compliant one if it does not file INC-22A ACTIVE or complete the company incorporation process. Even the respective company is unable to any of the mentioned forms in the near future.
- Form related to changes in the authorized capital, also known as form SH-7
- Form related to changes in the amount of paid-up capital, called form PAS-3
- Form to highlight changes in the company’s directors and board of directors i.e. DIR-12
- Form to mention changes in the company’s registered office i.e. INC-22
- Form to highlight about de-merger and amalgamation of any venture i.e. INC-28
If all this seems too complicated to you, send us an email or a message and our expert can help you get started.
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