1. First obtain a Digital Signature Certificate (“DSC”)
A DSC is required to file various forms for formation of the company and is mandatory for subscribers and witnesses to the Memorandum of Association & the Articles of Association. One can apply online and obtain a DSC from agencies certified by the government.
2. Applying for a Director Identification Number (“DIN”)
A DIN is required for a person to be a director in a company and the same DIN can be used to be a director in multiple companies. It can be obtained by filing forms online with the MCA.
3. Obtain a Name Approval
The web service Reserve Unique Name (“RUN”) offered by the Ministry of Corporate Affairs (“MCA”), allows for one chance to apply (with 2 proposed names) and in case of rejection there is no second chance that is given. Alternatively, one can apply through the SPICe form but in this case, only one name can be given. The name must contain Producer Limited Company at the end.
4. Filing of the SPICe form
This is a single form to be filed through MCA portal for DIN allotment, reservation of name of company, incorporation of the company and applying for Permanent Account Number (“PAN”) and Tax Deduction and Collection Account Number (“TAN”).
5. Memorandum and Articles of the Company
There are two linked forms to the SPICe form, namely e-MOA & e-AOA which are electronic forms of memorandum of association i.e. the basic charter document of a company and the articles of association i.e. byelaws of the company respectively.
6. Application for PAN & TAN
Once the SPICe form is submitted, form 49A and form 49B are auto generated by the system. These are required to be duly filled and filed on the MCA portal.