Incorporation is the formation of a new corporation/ company (a corporation being a legal entity that is effectively recognized as a person under the law). The corporation may be a business, a non-profit organization, a startup, a micro small or medium scale business.MCA regulates corporate affairs in India through the Companies Act, 1956, 2013 and other allied Acts, Bills, and Rules. MCA also protects investors and offers many important services to stakeholders. The Ministry is primarily concerned with the administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008 & other allied Acts and rules & regulations framed there-under mainly for regulating the functioning of the corporate sector in accordance with the law.
The Ministry of Corporate Affairs is an Indian government ministry and it is concerned with the administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, etc. Ministry of Corporate Affairs is responsible mainly for the regulation of Indian enterprises in the Industrial and Services sector. Nirmala Sitharaman is the current Minister of Corporate Affairs and the Minister of State for Corporate Affairs is Mr. Anurag Thakur.
Additional Read : How to Register a Company in India?
The name which you choose should not be identical or similar to the existing names neither by words nor phonetically. In case and such name is found, it can be considered as an offense. A name should contain a noun and an activity word that reflects the business which is carried. Company name search procedure helps you to avoid such mistakes.
The applicant is requested to do a Trademark search to ensure that the name which is chosen by a firm does not exist. This process avoids duplication.
A name should consist following do’s and don’ts:
It is necessary for an applicant to make a different domain name, therefore you should block your domain name to avoid duplication.
A company name which includes the words like insurance, bank, stock exchange, venture capital, asset management, mutual fund, etc may require regulatory approvals from RBI, SEBI, IRDAI, etc.
Company names that include words like International, Globe, Continental, Asiatic, Asia, Industries, Udyog, Hindustan,India, Bharat, enterprises, products, business, etc should have a minimum authorized capital of Rs.5 lakhs and above.
Following are the steps to Check Company Name Availability Online
In case you get less than three results, then the message of “High Probability” will be shown, which means there is a huge possibility to get the approval from the government for your company name.
While searching for the company name, if the message is displayed as “Moderate Probability” then there are 50% chances for your company name approval.
In case more than 8 results are displayed then the message of “Low Probability” will be shown. Here there are very chances for the approval of your company. In such a case, you should choose some other name.
|Limited Liability Partnership||Private Limited Company||One Person Company|
|4000 (Govt Fees as per actuals)||4500 (Govt Fees as per Actuals)||4250 (Govt Fees as per Actuals)|
|A perfect Way to Secure your personal assets, LLP’s are flexible and have lesser compliances also 100% FDI is allowed in Indian Markets for LLP’s||Only Private Limited Companies Can Raise Venture Capital, the conventional way for startups and growing businesses to raise Fundings.||Better Credit Rating, Single owner, seamless benefits under income tax and easy funding options from venture capital firms|
Additional Read : What is Reserve Unique Name?
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