1 What are the statutory requirements to be fulfilled once Private Company is registered?
Once, the company is registered, it should follow below-mentioned requirements on priority:
- Opening a current account of the company
- Appointment of Statutory auditor
- Deposit of paid-up capital mentioned while registration
- Issue and allotment of shares
2 How many DIN can be apply through SPICE Form?
Maximum 3 (Three) DIN can be applied through SPICE form.
If the applicant wants to incorporation Company with more than 3 Directors and more than 3 persons don’t have DIN. In such situation applicant have to incorporate Company with 3 Directors and have to appoint new directors later on after incorporation.
3 What is the minimum Capital Requirement?
While registration, minimum authorized capital of INR 1 Lakh should be provided. The requirement of minimum paid-up capital is eliminated as part of Government’s initiative to simplify business registration in India. However, each shareholder must subscribe at least 1 share for registration and amount sufficient to run business should be introduced.
4 How to file the Conversion form in case of more than 7 partners in the LLP?
In case of more than 7 partners in the LLP at the time of conversion into Company then Company have to file Scan copy of Physically prepared MOA & AOA and the company has to file 1. URC-1 and 2. INC-32.
5Whether at the time of Conversion whether Latest deed shall be attached in the form URC-1?
Yes, at the time of Conversion LLP have to file “copies of the principal and all subsequent deeds including the latest deed” with the ROC in e-form URC-1.
6Whether e-MOA & AOA can be file in case of MOA & AOA is signed by a person at a place outside of India?
Yes, if one of the directors is outside of India, it can be filed in an e copy format, no need of submitting a physical copy.
7Are shares of a private company easily transferable?
Yes, shares of Private Company are easily transferable among members of the company but for transferring the shares to a non-member, the share should be first offered to an existing member and if he refuses to purchase the same, the shares can be transferred to non-members.
8Can a foreign director be appointed after the conversion of LLP into private limited company and what are the documents required for filing DIN ?
Yes, a foreign national can be a director. For procuring DIN, details of a valid passport should be filled in form DIR-3 and a certified copy of same should be attached with DIN application. All supporting documents including photograph should be certified by the Indian Embassy or a notary in the home country of the applicant or by the Managing Director / CEO / Company Secretary of the company registered in India, in which applicant is a director. If a foreign director has a valid multiple-entry Indian visa or Person of Indian Origin card or Overseas Citizen of India card, then the attestation could also be done by Public Notary / Gazetted Officer in India or practicing CA / CS / CWA.
9Can a Private Company carry multiple businesses after conversion from the LLP?
Yes, a private company can carry multiple businesses after conversion from the LLP, it does not have any restrictions.