Provisions Applicable for Foreign Company

If any person or group of persons, who trade or carry on business in any manner under any title or description or name as a foreign company registered under the Act or the rules made there under, that person or each of those group of persons shall, shall be liable for investigation under section 210 of the Act and action consequent upon that investigation shall be taken against that person.

• The punishment has been increased, wherein a foreign company fails to comply with the provision of section 387, Section 388, Section 389 and Section 390 of the new Act. Under the old Act, such companies were punishable with imprisonment for a term up to 6 months or with fine up to fifty thousand rupees or with both.  Also, punishment for default in case a foreign company fails to comply with any other provisions applicable on foreign companies in respect of document to be delivered to Registrar after commencement of business in India, return to be delivered to the Registrar where documents are altered, accounts of foreign company and every officer of the company in default was punishable with fine which may extend to ten thousand and in case of a continuing offense, with an additional fine of one thousand rupees for every day during which the default continues.

However under the New Act, a general penalty is prescribed for default of any of the provision of this chapter. Now, the company in default shall be punishable with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees and in the case of a continuing offense, with an additional fine which may extend to fifty thousand rupees for every day during which the default continues and every officer who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine that shall not be less than 25000 rupees but which may extend to extend to 1 lakh rupees, or with both.

Due Diligence Financial Services provides services to bank in the field of Due Diligence Report for their customer before sanctioning loan about their physical existence, goodwill and market coverage. And services includes Company registration in Delhi Gurgaon Noida which includes Section 8 company registration or OPC Registration or LLP formation or annual filing of private limited company or annual filing of public limited company as well as LLP in Delhi Noida Gurgaon.

Declaration Required from Director Under Companies Act 2013

New provision applicable for any Company registration in Delhi Gurgaon Noida Ghaziabad Uttar Pradesh Bihar Patna Ranchi or all over India under Companies Act 2013 with respect to the incorporation of the Companies:

1. For any new company registration under companies act 2013 at the time of incorporation an affidavit from every subscribers to the MOA and who named as First Directors in the Articles of Association in Form No INC-9 and shall be submitted that proposed first director is not convicted of any offence in connection with the promotion, management or formation of any Company previously or that he has not been found guilty of any fraud or misfeasance or of any breach of duty to any Company under this Act or any previous Company law during the preceding 5 years and that all the documents filed with the registrar for registration of the Company contain information that is correct and complete and true to the best of his knowledge and belief. 
2. In case of incorporation of Company, an address for correspondence until registered office is established shall also be provided.
3. Documents filed for incorporation shall be maintained at the Registered Office till dissolution.
4. Any person who deliberately furnishes any false or incorrect particulars of any information or suppresses any material information in any document filed at the time of registration of a company will now be responsible for fraud under Section 447 and will be subject to stringent punishment.
5. In case company is found at any time after the incorporation, it has been proven that Company has been registered by furnishing any false or representation or by suppressing any material fact or incorrect information or information in any of the document or declaration filed or made for incorporating such company, or by any fraudulent action, the Promoters, the person named as the First Directors of the Company and the person making declaration under clause (b) of sub-section (1) shall each be liable for action under Section 447 and will be subject to stringent punishment.
6. The application for incorporation of the Company shall be filed in Form No. INC-7 for company Other than One Person Company and for OPC in From INC-2 along with the fee as provided. 
7. At the time of witnessing the signatures of proposed first director or subscribers to the Memorandum of Association, the witness shall also certify that he has verified the ID proof i.e. Voter Id or Driving License or Passport or Aadhaar etc. of the subscribers for his/her identification and has also satisfied himself about their particulars. 
8. The rules also provides the manner of signing of memorandum in a case subscriber is illiterate, a body corporate or foreign the ID of the subscriber to the memorandum is Foreign national and visited India for purpose of incorporating a company, then no notarization  or apostlisation is required provided he has a valid business License
9. The declaration by an advocate, a chartered account, cost accountant or company secretary in practice shall be in Form No INC-8.

Following important information need to provide in respect of the subscribers:

• Photography
• PAN
• Education qualification
• Proof of identity and residence
• Specimen signature of director duly verified by their respective banker or notary at the time of incorporation
• Proof of nationality i.e. country of origin in case the subscriber is a foreign national
• Similar information as aforesaid for person signing on behalf of body corporate
• Certificate of incorporation along with the address proof as applicable in that country in case of  foreign bodies corporate

Particulars of first directors of first directors along with their consent and details of his interest in other firms and bodies corporate shall be field in Form no DIR-12.

We are one of the Top Delhi NCR’s Company Registration Consultant and provides Company Formation Services in Delhi Gurgaon Noida Ghaziabad whole Uttar Pradesh Bihar Patna Deoghar Jharkhand Ranchi etc.

Meaning of Related Party Under Company Act 2013

Due Diligence Financial Services is duly managed by Indian professional who is professionally involve in Company registration in Noida and also provides services of Company Registration in Delhi. We are one of the best professional as Company Registration Consultant in Delhi and Company Registration consultant in Noida.

1. Section 2 sub section 76 has defined the meaning of related party for the purpose of disclosure of related party transaction wherever required. In reference to Company related party means.
2. Director of the company and his related.
3. Key person of the company i.e. managerial personnel of the company and his relative.
4. Meaning of related party extended and includes a firm in which director of the company or manager and their relative is a partner.
5. A private company in which director or manager and their relative is a member or director of the company comes within the meaning of related party.
6. Any public limited company in which director or manager and their relative, who possess shareholding more than 10% of paid of share capital of the company.
7. BOD or Managing Director or Manager of any body-corporate who are accustomed to act in the accordance with instruction or direction or advice of a manager or director.
8. If the Director or manager of the company accustomed to act on the director or advice or instruction but this condition do not apply if the director or instruction is being given in a professional capacity.
9. A company which is

(a)  An associates company or holding or subsidiary of such company

(b)  A subsidiary of their holding company

(c)   Other person as may be prescribed from time to time.

Company Registration Procedure For Different Type of Company

In India there are different form of company such as Proprietorship company or Partnership Company or One Person Company OPC or Private Limited Company or Public Limited Company or Section 8 Company or NBFC Company or Chit Fund Company or Producer Company Registration procedure and rules and regulation applicable for all the above type of company is different from each other. For Proprietorship company registration there required only one person and there didn’t any approval from ministry, there required only VAT registration or Service Tax Registration as applicable according to nature of business. For Private Limited Company registration in Delhi or Gurgaon or Noida or Ghaziabad or at any state of India same procedure applicable whereas for partnership firm registration procedure is totally different and for partnership firm registration there required at least two person. And at the same place for Public limited company registration procedure is different from private limited company formation and there required at least three director and seven shareholder.

DDFS provides lead services as a Company registration Consultant in Noida Delhi Ghaziabad Gurgaon and have goal toward achieving total customer satisfaction. For incorporation of company with MCA there required Digital Signature and DIN number of director at first and after there need to file name approval form as applicable and then after their required to file incorporation  documents and form such as INC-7, INC-22 and DIR-12.