Memorandum of Association and Articles of Association or the charted company. The Memorandum of application sets out the Constitution of the Company, the objectives and scope of activity of the company.
The Articles of Association contain the rules and Regulation of the Company for the management of its internal affairs.
Both these document s have to be submitted in ROC who will then give certificate of incorporation once its satisfied that the documents that have been filed or accurate and that registration fees have been paid. Once the certificate of incorporation is given, it is green signal for the company to commence its business. Private company can commence its business on receipt of its certificate of Incorporation. Public Company however, it has to invite the public for subscription for its share capital. This is done by the public company issuing prospectus which provides information of the company to potential investors.
The prospectus has to be filed in ROC before it can be issued to the public. In case public company decide not to approach the public and arranges for its funds it can file or “statement in Lieu of Prospectus”. Once ROC receives this statement in the lieu of prospectus it issues the Certificate for Commencement of Business to the public company. The company can commence business immediately after it receives this Certificate.
There are several s documents that have to be filed along with the Memorandum of Association and Articles of Association. These are Declaration of Complaint, notice of address of the registered of the company, details of the Director and Manager etc… authority to one of the subscribers of Memorandum of the Association, authorizing to set person to file the documents for registration , ROC is letter indicating the availability of the name.
Companies have to get Permanent Account Number (PAN) Tax Deduction Account Number (TDAN) from the revenue department. The Pan is required during several tractions such as sale, purchase, immovable property, vehicles, etc…