Public Limited Company Registration in Bilaspur, Chhattisgarh – advantages, process, fees

 

 

If you are planning to setup a Public limited company in Bilaspur, Chhattisgarh, you may find the specified requirements prescribed by Registrar of companies (RoC) and step by step process for registration of Public limited company in Bilaspur, Chhattisgarh with MCA including fees, capital requirements, documents required, requirement of minimum number of members and directors, process for registration of name, etc.

 

Many startups start their venture as private limited company or partnerships and may be without any proper documentation or company registration with MCA. This may result in futuristic process after the rapid growth in company. Confident businesses tend to create a structure of company with incorporation of Public limited company in Bilaspur, Chhattisgarh in order to capitalize on various advantages.

 

Advantages of incorporation of the Public Limited Company in Bilaspur, Chhattisgarh

 

Independent Legal entity for Business Continuity

Public limited company is definitely an independent legal entity other than their shareholders or members. Typical purpose of registration of a Public Limited company is continuity of scalable business till eternity. Irrespective of life of individuals incorporating a Public limited company, it continues to operate through the generations.

 

Easier to raise capital by roping in more shareholders

The Public Limited Company registration or incorporation is the most popular and useful form of business structure for companies among the established, small, medium and large size business. The basic purpose with such companies remains the easy introduction of non related people or entities as shareholders as such providing capital to the business without any hassles or personal guarantees.

 

Unlike Private Limited Company, the Public Limited company may introduce any number of shareholders through private circulation or public offers.

 

Limited Liability of promoters and other shareholders

The Public Limited company incorporation reduces the risk of liabilities of the shareholders or members of the company. In an unfortunate event of default, the shareholders are responsible to the extent of capital provided only. This ensures that the personal assets of any member or shareholders remain untouched.

 

Corporate governance and reputation

Another big advantage of incorporating a Public Limited Company remains its legitimacy and attracts talented employees and other stakeholders be it vendors, shareholders or business partners. It is always perceived by the people that the Public limited companies, being regulated by MCA guidelines, will have higher corporate governance as compared to other non formalized structures. This also lead to higher reputation in the markets where they operates and helps in attracting better talent or deals from the market.

 

Trustworthiness

Companies Act, 2013 mandates the registration of Public Limited Companies in Bilaspur, Chhattisgarh with the Registrar of companies (ROC). It is possible to check or access the details of any registered Public limited on the MCA (Ministry of Corporate affairs) website http://www.mca.gov.in/. Even the details of Directors and annual reports of the company are also available on the same website. This creates a transparency for other people investing in company or even dealing with company.

 

Another advantage of a Public Limited Company registration remains its existence in a systematic and planned manner that also it possible even to dissolve the same company in a hassle free manner, if any unfortunate situation.

 

Advantages of Public Limited Company Registration in Bilaspur, Chhattisgarh

If you are planning to start a business or startup by incorporation or registration of a public limited company in Bilaspur in the state of Chhattisgarh, the registration of such public limited company will be with Registrar of Companies, Bilaspur office i.e. RoC – Bilaspur. All public limited companies within Bilaspur or any other part of the state of Chhattisgarh, is required to be registered with RoC Bilaspur.

 

Chhattisgarh is the state situated in the center of India sharing its border with 7 other states and as such has market access to about 52 crore people across these states. Its capital city, Naya Raipur, is India’s first greenfield smart city. The state is well connected through its extensive network of rail, road and air. With potential of becoming logistics hub, it is one of the highest contributor to railway freight.

 

The main Industries in the state of Chhattisgarh include Iron & Steel, Cement, Agriculture and thermal power with its state-of-the-art facilities in the industrial areas. Chhattisgarh accounts for about 15% of the total steel production in India.

 

Chhattisgarh is also known as the ‘Rice Bowl of India’, with rice being the major crop covering 66% of the total cropped area. Chhattisgarh is major producer of cereals, maize, pulses and horticulture produce like guava, turmeric, tomato, ginger, cabbage and peas. Chhattisgarh is the greenest state of India with 44% of its area under forest cover. The state is rich in variety of species of medicinal plants with active promotion of usage of ethnomedicine, that is practiced by aboriginal tribes since ages. Chhattisgarh has a major contribution of about 43% of the total lac production in India.

 

Not only this, as per the latest report by World Bank, Chhattisgarh ranked 6th out of 36 states in terms of ease of doing business. Although, the entire process of registration of public limited company in Bilaspur, Chhattisgarh is  online however for any queries or clarification, one can visit RoC regional office at Bilaspur with address given below

 

ROC-cum-Official Liquidator  (ROC cum OL Bilaspur )

Ministry of Corporate Affairs (MCA)

Address : Ist Floor, Ashok Pingley Bhawan, Municipal Corporation, Nehru Chowk, Bilaspur- 495001 Chattisgarh

Phone: (07752)-250092(D),250094

Email : roc.bilaspur@mca.gov.in

 

Documents required for registration of Public Limited Company in Bilaspur, Chhattisgarh

 

Mandatory documents required for individuals aspiring to become the company’s Directors and shareholders (Indian nationals)

Clear and self attested scanned copies of:

  1. PAN Card
  2. Identification proof issued by GoI – Aadhaar, Voters’ ID or passport or driver’s license
  3. Six months Bank statement with current address
  4. Utility bills either mobile or gas or electricity with current address
  5. Latest Passport size photograph
  6. Specimen signature – Director’s signature on a blank white paper

 

Mandatory documents required from Individuals aspiring to become the company’s Directors and shareholders (NRIs)

Clear and self attested scanned copies of:

  1. PAN Card
  2. Identification proof issued by GoI – Aadhaar, Voters’ ID or passport or driver’s license
  3. Six months Bank statement with current address
  4. Utility bills either mobile or gas or electricity with current address
  5. Latest Passport size photograph
  6. Specimen signature – Director’s signature on a blank white paper

 

Proofs for office address for registered office of a Public limited company in Bilaspur, Chhattisgarh

Clear and scanned copies of:

  1. Latest water bill or electricity bill
  2. Notarized rental agreement in English
  3. Receipt of the latest rent paid
  4. In case of owned property – Sale deed or property deed
  5. NoC from the property owner stating no objection to use property as registered office by company

 

Note: All the documents should be notarized (if the NRI is currently in India or in a Commonwealth country). All the documents should be notarized and apostille or attested by an Indian embassy (if in a Non-Commonwealth Country).

 

Here are few issues in documents that lead to rejections while registering a Public Limited Company in Bilaspur, Chhattisgarh

 

Name on the PAN – It is commonly seen that name on PAN is correct. Although, while linking Aadhaar and PAN, lots of anomalies were resolved. However, one need to be double check that name on PAN should be same as we are filing in the company documents. Also a care should be taken that all other proofs that are given should have the same spelling of name as in PAN card.

 

Utility bills should be latest –Any utility bills enclosed for address proof or otherwise should be latest month. At max not older than 3 months. Older bills may led to rejection of application by Registrar of Companies (RoC).

 

No Objection Certificate form Office owner –In case the Public limited company is looking to use any premises as their registered office, the no objection certificate from the owner of premises is a must. Even if the premises owner is the director or shareholder in the company, still this requirement persists.

 

Step by Step Procedure for Registration of Public Limited Company in Bilaspur, Chhattisgarh

The minimum prerequisites for registering a Public Limited Company in Bilaspur, Chhattisgarh are as follows

 

  • Minimum of 7 shareholders are required for incorporation of Public Limited company in Bilaspur, Chhattisgarh
  • Minimum of 3 directors are required for incorporation of Public Limited company in Bilaspur, Chhattisgarh
  • DIN for all the concerned directors
  • Minimum share capital worth Rs. 5 lacs.
  • At least one of the promoters should be a resident of India.

 

Let us understand the step by step process for registration of Public Limited Company in Bilaspur, Chhattisgarh

 

STEP 1 : Application of DSC and DIN

 

The foremost step for all the promoters or would be Directors of a Public Limited Company is to apply for the Digital Signature Certificate and DIN. The digital signature is an online signature used for the purpose of filing while the DIN refers to Directors Identification number issued solely by the Ministry of Corporate Affairs (MCA).

 

  • DIN for 3 Directors

DIN or Director Identification Number is a registration of Directors with Registrar of Companies. Similar to PAN or Aadhaar, it is the mandatory registration required for becoming Director in any Public Limited Company in Bilaspur, Chhattisgarh.

 

  • DSC for 7 Directors/members (Digital Signatures)

DSC or Digital Signature Certificate is the signatures of director that enables to sign any document in the digital form. All documents that are filed online with RoC or MCA requires digital signatures. Directors needs to obtain this to file any such documents on behalf of any Public limited company in Bilaspur, Chhattisgarh, one need to sign digitally, using this DSC.

 

If the directors already have obtained both the DSC and DIN, then they can easily skip to the next step.

 

STEP 2 : Filing the Name for the Public Limited Company in Bilaspur, Chhattisgarh

The application for the name of a Public Limited company in Bilaspur, Chhattisgarh involves sending 3 different options for your company’s name (of your choice) to the MCA, of which one will be selected. The options of names you send in should be unique and suggestive of the company’s characteristic features.

 

The name of a company is of utmost importance as it sets the tone for your company and forms the first impression of your organisation amongst your customers, business associates and all stakeholders. Which is why you have to make sure you select 3 thoughtful unique options for the name of your company.

 

●        A simple and short name is preferable – You should always go for names that are easy to pronounce as well as easy to remember. Yet the name should be remarkable enough so that it creates a positive imprint of the company in people’s minds.

  • Should be thoughtful and meaningful – You should ensure that the name of the company is not unrelated to the business or lacking meaning. It should fit the company’s branding and reflect the brand values very well.
  • A completely new and unique name is necessary – It goes without saying that you cannot have a name that is already the name of an existing trademark or registered company. of your company should not be identical to an existing company or trademark.
  • A fixed Suffix – The name of the company should always end with the suffix “Public Ltd.” in case of a Public Limited Company.

Offensive/illegal names should be avoided at all costs – You have to ensure that the name of your company doesn’t go against the law. It should not be abusive or against the customs and beliefs of any religion or community to avoid all controversies and legal troubles.

 

STEP 3 : The submission of MOA & AOA

Once the name is approved by the MCA (Ministry of Corporate Affairs), the next step is to draft a “Memorandum of Association” and the “Articles of Association”. Both the MOA and AOA will be filed with the MCA and the “Digital Signature Certificates (DSC)”, as it is mandatory to have those attached with both.

 

Memorandum of Association

Memorandum of Association (MoA) represents the charter of any Public limited company in Bilaspur, Chhattisgarh. Being a legal document which is prepared while the incorporation and registration of a Public limited company, it defines the precise relationship with shareholders and the main objectives along with other objectives for which the company has been formed. Any Public limited company can undertake only those activities as mentioned in the object clause of in the Memorandum of Association.

 

Articles of Association

Article of Association (AoA) specifies the regulations on basis of which the company will be managed. It not only lay down the duties, rights and powers of management that will manage the company. It may be considered as the subsidiary to the Memorandum of Association (MoA). Articles of Association articulates the guidelines that should be followed to achieve the objectives of the company laid down on object clause. Objectives of AoA is bring clarity in the relationship among the Public limited company and its shareholders. It primarily contains information related to share capital, transfer of shares, voting rights of the shareholders, the appointment of directors, accounts, an audit of the company etc.

 

Step 4 : Apply for forming a Public Limited Company in Bilaspur, Chhattisgarh

Once the name is approved as per step 2, the members or promoters of the company needs to apply for registration of Public limited company within 60 days of name approval by filing the required forms, which are Form 1, Form 18 and Form 32. The drafted memorandum and articles of association as per Step3, needs to be submitted along with the forms as an attachment. The stamping of the memorandum and articles of association is required to be done with the appropriate stamp duty. Also, the Memorandum and the Articles of Association is required to be signed by at least two subscribers along with mention of details like father’s name, occupation, address and the number of shares subscribed. This also requires to be witnessed by minimum of one person.

It is important to note that date of signing of Memorandum of Association and Articles of Association ahould be after the date of stamping, else may lead to rejection by RoC.

To apply for the incorporation of Public Limited Company in Bilaspur, Chhattisgarh, you need to login the MCA portal at https://mca.gov.in . The duly filled forms along with all relevant attachments is now ready for submission and can be submitted on MCA portal.

STEP 5 : Receival the Incorporation Certificate of Public Limited Company

Normally, after the submission of form, it takes around 15- 25 days to form a Public Limited Company in Bilaspur, Chhattisgarh and obtain the Incorporation Certificate. This Incorporation certification is nothing but a proof of the fact that the Public limited company has been created in India following all government mandates. It will also contain the CIN number i.e. Corporate Identification Number also referred to as CIN . CIN is a unique identification number, assigned to the company formed under Companies Act 2013, by the ROC (Registrar of Companies) in various states under the MCA (Ministry of Corporate Affairs).

 

Steps to be taken after incorporation of the Public Limited Company in Bilaspur, Chhattisgarh

 

  1. Applying for PAN and TAN for the company (within 30 days).
  2. Filing of form INC-22 regarding details about permanent registered office of the company (within 30 days).
  3. Opening of Bank Account after passing a resolution in first board meeting of the company. The documents required for opening a current account for a company are as follows:
  • Certificate of Incorporation of the Company
  • Copies of Company Incorporation documents such as Memorandum and Articles of Association of the Company.
  • Permanent Account Number (PAN) of the Company
  • Board Resolution of Opening and operation of bank Account
  • KYC details for Directors and Shareholders of the Company
  • Initial deposit amount in form of cheque as a capital from shareholders
  1. Infusion of Initial Capital by the Subscribers of Memorandum within 60 days of incorporation
  2. Initiating the Books of Accounts for the company (within 30 days)
  3. Appointment of First Auditors by Company by board of Director till the conclusion of first AGM.
  4. Registration under Shop and Establishment Act with local authorities.
  5. Professional Tax Registration for Employer & Employee
  6. Issue of Share Certificate to the Shareholders or Subscribers of MOA
  7. The Company may commence business within 180 days of incorporation
  8. Goods and Services Tax (GST) Registration
  9. Trademark Registration

Fees and other charges for registration of Public Limited Company in Bilaspur, Chhattisgarh

Digital Signature Certificate Cost of

·         Rs. 1500 to Rs.2000 per signatory for the period of 2 years

DIN Registration Cost to Register a director for Public limited Company

  • DIN Application Fee i.e is 500 Rupees per DIN
  • Stamp Paper for Affidavit charges 20 Rupees per DIN
  • Notary Charges – 50 Rupees per DIN
  • Professional Fee which is charged by Chartered Accountant for Certifying your Application.

Fee for Name Approval for Public Limited Company in Bilaspur, Chhattisgarh

  • 1000 per application

Fees for Filing form for incorporation of the Public limited Company in Bilaspur, Chhattisgarh with RoC

The fees for registration of a Public limited company depends upon the Authorised capital of the company.

Sr. No Particulars Calculation Amount is Rs.
1 DIN for 3 Directors Rs. 500 per DIN 1500.00
2 DSC considering 7 directors/members Rs. 1500 per DSC 10,500.00
3 Company name approval Rs. 1000 per application 1,000.00
4 Stamp Papers and notary charges depends on number of affidavit, certification and declarations Rs.1500 (approx if requirement is for 2 directors)
5 Company Registration
I Filling of form INC 7 300.00
II MOA 2000.00
III AOA 300.00
IV Form INC 22 300.00
V Form DIR 12 300.00
Total  3,200.00
6 Stamp Duty Charges for MOA, AOA and Form INC 7 (cost varies from state to state) 1500 Avg.
Total Government Cost of Company Registration 19,200.00

Note : The charges may vary from state to state. It is only to give an idea about the charges and levies required other than professional charges.

Why Seedup.in

All in all, it is not much of a hassle to get a Public limited company registered in Bilaspur, Chhattisgarh if you know the complete process. Seedup.in helps you professionally and to not only simplify the process but also guide you with clauses and tips that helps you incorporation of the company think of the long term objectives.

Our professionals walk along with the startup and pave the smooth path for successful funding and growth of the company.

 

 

as a Public limited company with seedup.in. All you have to do is register yourself with seedup.com and we will be at your service.

 

 

 

 

 

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