Company Formation

Companies are governed in India by companies act, 1956. Registrar of Companies (ROC) is the regulating Authority who supervise and controls the affairs of the Company and with whom necessary documents are filed for various statutory requirements. 

Types of companies: Normally companies are limited by liability and the shareholders are liable upto the unpaid value of their shares. Broadly in India companies are formed in two forms: 

Private Limited Company – Requires least Compliances and is suitable for close working groups. Restricts maximum numbers of members to 50 and prohibit any invitation to the public to subscribe any shares, debenture or deposits, also put restrictions on freely transfer of its shares. 

Public Limited Company – Enjoys access to public investments though subject to various disclosures and compliances as compared to private limited company.

What Offers

  • Speedy Formation of Private/Public Limited Company.
  • Drafting of memorandum and article of association of companies.
  • Conversion of Private Limited Company into Public Limited Company or Public Limited Company into Private Limited Company.
  • Changing the name of the company.
  • Change of registered office, directors, stakeholders etc.
  • Alteration of main objects of the company to undertake/change new business activities; increase/decrease in capital clause etc.
  • Assisting in holding of Statutory meeting and preparation of statutory report
  • Appointment of directors and their remuneration.
  • Creation of Holding and subsidiary company
  • Assistance in ensuring Compliances of Inter corporate Deposits (ICDs) & External Commercial Borrowings (ECBs)
  • Amalgamation, merger and acquisition of companies.
  • Compliances of Payment of dividend by companies & remittances outside India.
  • Buy back of shares

SEBI Regulations

  • Matters relating to Substantial Acquisition and Takeover Code
  • Preferential Allotment and Pricing Guidelines.
  • Matters relating to price rigging, Insider Trading, price manipulation etc.
  • Portfolio Management Services (Rules and Regulations)
  • Matters relating to Brokers’ Registration Fee, Multiple Membership fee etc.
  • Appeals before Securities Appellate Tribunal (SAT)
  • Securing permissions for External Commercial Borrowings (ECBs) etc.

Industrial Licenses In India various Industrial licenses and permissions are required to start and run business. MNRS helps in getting these licenses and permissions.

To attract investments and to ensure all round development of all sections of society Government of India (GOI) has formulated a policy for setting up Special Economic Zones (SEZ) in India. SEZs are proposed to be specially delineated duty free enclaves for the purpose of trade, operations, duty and tariffs. These zones are self-contained and integrated having their own infrastructure and support services.

Several fiscal and regulatory incentives to developers of the SEZs as well as units within these zones have been provided. In addition to the incentives offered by the Central SEZ Policies, jurisdictional state governments have also devised several additional incentives to the units’ set-up within these zones.

What Offers

MNRS assists its clients in complying with various regulatory requirements for the establishment and run unit in SEZ or Economic Zones.

LLP Formation

Now India has also joined the league of countries who allows creation of "Limited Liability Partnership" (LLP), which requires least compliances with the benefit of limited liability. This format is quite useful for small and medium enterprises in general and for the enterprises in services sector in particular, including professionals and knowledge based enterprises. To facilitate this Parliament of India have enacted Limited Liability Partnership (LLP) Act, 2008. 

The salient features of the LLP Act, 2008 are as follows:-

  • The LLP is an alternative corporate business vehicle that would give the benefits of limited liability but would allow its members the flexibility of organizing their internal structure as a partnership based on an agreement.
  • The Act does not restrict the benefit of LLP structure to certain classes of professionals only and would be available for use by any enterprise which fulfills the requirements of the Act.
  • As the LLP is a separate legal entity, liable to the full extent of its assets, the liability of the partners is limited to their agreed contribution in the LLP. Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
  • LLP shall is a body corporate and a legal entity separate from its partners. It will have perpetual succession. Indian Partnership Act, 1932 shall not be applicable to LLPs and there is not any upper limit on number of partners in an LLP unlike a ordinary partnership firm where the maximum number of partners cannot exceed 20.
  • An LLP is under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. Since tax matters of all entities in India are addressed in the Income Tax Act, 1961, the taxation of LLPs is also addressed in that Act.

What Offers offers services from Reservation of name to collection of Certificate of Incorporation which inter alia includes,

  • Applying for PIN (Partners Identification Number)
  • Procuring DSC (Digital Signature Certificate) & getting these registered
  • Drafting LLP agreement
  • Reservation of Name
  • Incorporation of LLP
  • Post incorporation services like applying PAN/ TAN and other registrations as required for running the business.
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