- Procedure to incorporate Section 8 Company
- Registration Process:
- Step 01: Fill the Section 8 Company Registration in Chennai Form:
- Step 02: New Company or Existing Company:
- Step 03: Getting a Section 8 Company Licence for a New Company:
- Step 04: Getting a Section 8 Company Licence for an Existing Company:
- Step 05: Director Details:
- Step 06: Payment Options:
- Step 07: Billing Details:
- Step 08: Work Completion:
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Procedure to incorporate Section 8 Company
- Application of DSC & DIN: First of all, the partners have to apply for Digital Signature Certificate and DIN. Digital Signature Certificate is an online signature used for filing and DIN refers to Directors Identification number issued by MCA. If the directors already have DSC and DIN, then this step can be skipped.
- Section 8 Company Name approval: You have to provide 3 different name options to MCA of which one will be selected. Names provided should ideally be unique and suggestive of the Section 8 Company’s business.
- Approval of other authorities: The Registrar of Companies may require the applicant to furnish the approval or concurrence of any department, regulatory body, appropriate authority, or Ministry of the Central or State Government(s) in relation to the work to be done.
- Obtaining Section 8 Company Licence: After the company’s name is approved, one needs to apply for a Section 8 Company license from the MCA. The Registrar will wait for 30 days for objections, if any, of any person pursuant to notice published in newspapers. The Registrar might also consult any other regulatory bodies and necessary authorities. Thereafter, the Registrar of Companies may, at its discretion, grant the license with or without certain conditions. The Registrar may direct the company to insert in its memorandum, or in its articles, or partly in one and partly in the other, such licensing conditions as may be specified by the Registrar in this behalf.
- MOA & AOA submission of Section 8 Company: Once the license is obtained, one needs to draft a Memorandum of association and Articles of Associate. But the object of the company must always be a charitable object. Both MOA and AOA are filed with the MCA with the subscription statement.
- Get Section 8 Company incorporation certificate: It typically takes 15- 25 days to form a Section 8 company and get the incorporation certificate. The Certificate of Incorporation is proof that a company exists. It also includes your CIN (Company Incorporation Number).
Get your Section 8 company Registration in Chennai with the help of LEGALRAASTA.
First of all, go to company registration online and click the ‘Form a business’ option. Next click on “Section 8 Company” and the process begins.
Step 01: Fill the Section 8 Company Registration in Chennai Form:
Fill in the text boxes with your contact details and click on proceed.
Step 02: New Company or Existing Company:
Tell us which company do you want a Section 8 Licence, a new company or an existing company. Select the option button that is appropriate. Next, Select the State as “Tamil Nadu” and type the city name as “Chennai”.
Step 03: Getting a Section 8 Company Licence for a New Company:
If you want to form a new company, fill in the name that you want, for the company. Please give us two alternate names in case your first choice name is rejected by the Ministry of Corporate Affairs. You can fill in the two extra names in their order of preference. You must think carefully before adopting a name because all and sundry names cannot be allowed. There is a list of undesirable names that cannot be used. A proposed name will be considered to be undesirable if it is identical with or it too closely resembles the following:
- Names of existing companies and LLPs or names approved by the Registrar of Companies and LLPs.
- A registered trademark or a trademark for which trademark registration has been applied for and used or owned by others.
- Names are given under and violating the Emblems and Names (Prevention of Improper use) Act, 1950. Click here to check the names. (See the Schedule)
- Foul words or phrases
- Words or phrases which are used as a slur and are offensive to a particular group of people.
- Names which have the words “British India”.
Generally, just ensure that the names do not violate any laws.
Next fill in your address. See how simple it is.
Step 04: Getting a Section 8 Company Licence for an Existing Company:
If you want a license for an existing company, then after selecting the State as “Tamil Nadu” and filling in the city named as “Chennai”, enter the name of the existing company, its Corporate Identity Number (CIN) and its registered address. Then click “Next”.
Step 05: Director Details:
Then select the number of directors that will be appointed to the company. The minimum directors required for a section 8 company are 2 and maximum 7. You can click on the small ‘+’ sign to add more directors. Next, fill in the name, address, and State of each director. Next, there are three important details you need to fill in. They are the total capital contribution, the capital contribution ratio of the directors and the authorized share capital of the company. The total capital contribution means the total amount of capital that the company will start with. The capital contribution ratio refers to the ratio (e.g. 50,000:60,000:20,000 can be represented as 5:6:2) in which the directors have contributed to the capital. Finally, the authorized share capital refers to the maximum capital that the members of the company can contribute.
Step 06: Payment Options:
After, click on “Next”, you will be taken to the payments option page. We provide a variety of payment options. You can choose from Net banking (EBS Payment Gateway)/Debit or Credit Card, EMI, Bank Transfer (IMPS, RTGS, NEFT), and your choice of mobile wallet (Mobikwik, PayU, Instamojo). Additionally, you can also pay from your Paytm wallet by speaking to our sales executives on the phone.
Your package will include the following:
The price for a Section 8 Company Registration in Chennai comprising of 2 directors is Rs.23,999/- but the price for the same for every extra director beyond 2 directors increases by Rs.2000/- per director (includes the cost of Digital Signature Certificate (DSC) and Director Identification Number (DIN) for every extra director). You can also apply your valid discount coupon if any. Then click “Next” and you will be directed to the “Billing Details” page.
Step 07: Billing Details:
Please provide your billing details. This is because your billing details might be different from your registration details. After clicking on “Submit”, you will be directed to the appropriate payment gateway for secure payment.
Step 08: Work Completion:
After your payment is successful, your Section 8 Company registration in Chennai process will start. Then, we shall obtain the DSC and DIN for all directors (if they don’t already have it) and apply for name approval of your Section 8 Company within 3 working days. Once we receive those, we will apply for a license and also obtain the certificate of incorporation and then apply for TAN and PAN cards for your company within 10 working days. We will provide you with the details of your company as soon as we receive them from the Ministry of Corporate Affairs and send the company’s TAN and PAN by courier. That’s all folks, your work is complete.
Get your Section 8 Company Registration in Chennai today, with the help of company registration online to get the ball rolling and doing something good for your fellow Chennaites.