Step-by-Step Tutorial on Mandatory Legal Compliance for Private Limited Companies under Companies Act, 2013

Operating a Private Limited Company in India involves adhering to numerous mandatory compliances as mandated by the Companies Act, 2013. These set the legal framework within which companies must operate and report various aspects of their business. Here’s a step-by-step guide to ensure your company meets all mandatory legal compliances:

Step 1: Convene the Initial Board of Directors Meeting

  • Hold the first meeting of the Board of Directors within 30 days of company incorporation.
  • Schedule at least four board meetings throughout the financial year, maintaining a maximum gap of 120 days between two meetings.

Step 2: Issue Share Certificates

  • Issue Share Certificates to the subscribers of the memorandum within 60 days of incorporation.
  • Keep a record of the share certificates issued for transparency and statutory compliance.

Step 3: Appoint Statutory Auditors

  • Appoint a practicing Chartered Accountant as the company auditor.
  • This appointment should be made by the Board of Directors within 30 days of incorporation, or by the members in an Extraordinary General Meeting within 90 days.
  • Re-appoint or ratify the appointment in each subsequent Annual General Meeting.

Step 4: Document Board and General Meetings Minutes

  • Record the minutes of all Board of Directors and General meetings.
  • Ensure this is completed within 30 days following the conclusion of each meeting.

Step 5: Disclose Directors’ Interests

  • Each director must disclose any interest in other business entities at their first board meeting as director and subsequently at the first board meeting in each financial year.
  • Submit their disclosures in FORM MBP-1.

Step 6: Approval and Signing of Financial Statements

  • Approve financial statements in a board meeting.
  • Sign them on behalf of the Board by the chairperson or two directors, and by the CFO and Company Secretary if appointed.
  • Submit these for auditing.

Step 7: Prepare Board of Directors’ Report

  • Attached to the general meeting financial statements, include a report detailing the state of the company and its compliance with financial and corporate standards.

Step 8: File Financial Statements

  • File the company’s Financial Statements with the Registrar of Companies within 30 days of the Annual General Meeting using E-FORM AOC-4.
  • Ensure the form is digitally signed by at least one director and certified by a professional if required.

Step 9: File Annual Returns

  • File the company’s Annual Return with the Registrar of Companies within 60 days of the Annual General Meeting using E-FORM MGT-7.
  • Have the form digitally signed by at least one director and certified by a Company Secretary in practice if necessary.

Step 10: Maintain Statutory Registers

  • Keep up-to-date statutory registers including:
    • FORM MGT-1: Register of Members
    • FORM MGT-2: Register of Debenture Holders
    • FORM MGT-3: Foreign Register of Members and other security holders
    • FORM SH-2: Register of Renewed and Duplicate Share Certificates
    • FORM SH-3: Register of Sweat Equity Shares
    • FORM SH-6: Register of Employee Stock Options
    • FORM SH-10: Register of Shares or Securities Bought Back
    • FORM CH-7: Register of Charges

Ensure you regularly review compliance regulations as they may be subject to changes. Non-compliance could result in penalties, so maintaining diligence in these areas is crucial for the ongoing operation of your Private Limited Company. Lastly, always confirm with legal advisers or professional consultants to ensure full compliance according to the latest amendments in the law.


List of important Legal Documents

In this article, we will discuss important Legal documents every company or startup should follow in practice, The document which clearly mentions the detailed terms and conditions, roles, and responsibilities has become a necessity for every business. Most businesses to scale up require alliances or business associates or require alternate resources or new technology, therefore to enter into a legal contract or obligation document which is the one that is clear enough to be easily understood by a person of ordinary prudence and at the same time detailed enough so that it cannot be wilfully misinterpreted is required and this documents than forms part of an integral part when the terms of the contract are beached by any party for commercial litigations purposes.

List of some important Legal Documents which every Startup Company or Business is Required :

  1. Business Associate Agreement
  2. Partnership Agreement
  3. Franchisee and Trademark Assignment Agreement
  4. Board Resolutions
  5. Business Takeover Agreement
  6. Work Space Sharing Agreement
  7. NON Disclosure Agreement
  8. Leave and Licence Agreement
  9. Software Licence Agreement
  10. Website Terms and Conditions, Privacy Policy and Disclaimer
  11. Refund Policy
  12. Social Media Policy
  13. Appointment Letter for Managerial Personals



How to Register Nidhi Company in India

nidhi company

Step By Step Nidhi Company Registration Procedure:

  • Obtaining Digital Signature Certificate (DSC ) for All the members/Shareholders and Directors
  • Preparation of requried Declarations and Documents for Nidhi Company Registraiton
  • Application for Approval of name
  • Preparation and Drafting of Incorporation documents
  • Signing of Incorporation Documents
  • Application for Incorporation of Nidhi Company with ROC
  • Approval by ROC, after verifying all  the required documents and information.

Minimum Requirements For Nidhi Company Registration

1. Required Minimum 3 Directors and 7 Shareholders/members
2. Can Accept Deposits From its members
3. Body Corporate and Benefits of Limited Liability
4. Can Land Money to its Members
5. Can Provide Locker Facility to its members
6. Required to have a Minimum of 200 members within one year of Incorporation
7. Best suited for Small lending and deposit Business
8. Minimum Capital Rs. 5 Lakh at the time of Incorporation and Thereafter required to have Rs. 10 Lakh.

Documents Required For Nidhi Company Registration

1. PAN of all Directors
2. Voter ID/DL/Aadhar Card/Passport of All Directors /members
3. Passport Photo of all Directors
4. Latest Bank Passbook/Statement or Electricity/Broadband Bill/Mobile Bill
5. Latest utility bill (electric bill/telephone bill) and Rent Agreement or latest tax receipt/ownership deep of the property for the property to be used for registered office

Net Owned Funds Requirements

Every Nidhi Company is required to have Minimum Net Owned Funds of Rs. 10Lakh all the time. Within one year from Registration of Company Should follow this requirement.

Net Owned Funds

Aggregate Amount of paid-up equity share capital and free reserves as reduced by accumulated losses and intangible assets appearing in the last audited balance sheet provided the amount representing the proceeds of the issue of preference share shall not be included for calculating net owned funds.

What Nidhi Company Cannot Do As Par Nidhi Rules

If you planning to Register this company , you must need to ensure that what you cannot do in Nidhi Company, Once Nidhi Company Registration is done, you must follow Nidhi Rules

  • Shall not carry any chit fund, hire purchase finance leasing finance insurance or acquisition of securities issued by any Body corporate
  • Not allowed to issue any kind of preference shares or any debt instruments by any name whatsoever.
  • Prohibited to open any current account with its members
  • Prohibited to do any compromise or arrangement or takeover unless it is passed by a Special Resolution in the General Meeting and also obtained the previous approval from the Regional Director having jurisdiction over such nidhi company
  • Carry on any business other than the business of borrowing or lending in its own name
  • Prohibited to accept deposits or lend amount other than its members
  • Pledge any of the assets lodged by its members as security
  • Prohibited to take deposits or lend money to any Body corporate
  • These companies are prohibited to enter into any partnership arrangement in its borrowing or lending activities
  • Prohibited to issue any advertisement in any form for soliciting deposits

How much loan a Nidhi Company can provide to its Member

  • Rs. 2 Lakh where a total amount of Deposits form its members is less than Rs. 2 crore
  • Rs. 7.50 Lakh where the total amount of Deposits form its members is more than Rs. 2 crore but less than twenty crore rupees
  • Rs. 12 Lakh where the total amount of Deposits form its members is more than Rs. 20 crore but less than Fifty crore rupees
  • Rs. 15 Lakh where the total amount of Deposits form its members is more than Rs. 50 crore
  • No fresh loans exceeding 15% of above can be if Nidhi is not profitable for continuously three preceding financial years.
  • Members who have taken a loan from Nidhi and defaulted in repayment of such loan shall not be allowed to take fresh loans form Nidhi.
  • Only Members of Nidhi Company can take loan form Nidhi Company

How Much Interest Can Be Charged On Loans By Nidhi Company

The rate of Interest to be charged on loan given by Nidhi shall not go above seven and a half percent(7.5%) above the highest rate of interest offered on deposits by Nidhi.

i.e.7.5% the gross margin that a Nidhi Company is able to earn from the operations.



How to get Copyright Registration in India

Copyright is a right given by the law to creators of literary, dramatic, musical, and artistic works and producers of cinematograph films and sound recordings. Copyright Registration provides a bundle of rights like rights of reproduction, communication to the public, adaptation, and translation of the work.

Copyright ensures certain minimum safeguards of the rights of authors over their creations, thereby protecting and rewarding creativity. The development of a society is dependent on the creativity of creators and their rights over their work should be protected. The rights & protection provided by copyright to the efforts of writers, artists, designers, dramatists, musicians, architects, and producers of sound recordings, cinematograph films, and computer software, create an atmosphere conducive to creativity, which induces them to create more and motivates others to create.

Application for Copyright Registration Application :

The application can be made both online and Offline by the applicant or the Authorized Attorney of the applicant. An applicant filing a copyright application should have the work in soft copies and hard copies in at least two copies, like the author of Literary work should have two copies of the book for copyright.

Information required for Copyright Registration Application :

  • Name, Address and Nationality of the Applicant
  • Nature of the Applicant’s interest in the Copyrightof the work
  • Class and description of the work
  • Title of the work
  • Language of the work
  • Name, Address and Nationality of the Author and if the Author is deceased, the date of decease
  • Whether the work is Published or Unpublished
  • Year and Country of first publication, and Name,Address and Nationality of the publisher
  • Year and Countries of subsequent publications, if any, and Name, Address and Nationality of the publisher
  • Name, Address and Nationality of the Owners of the various rights comprising the copyright in the work and extent of rights held by each, togetherwith particulars of assignments and licence. If any
  • Name and address and nationality of otherpersons, if any authorized to assign or licence therights comprising the copyright
  • If the work is an ‘Artistic work’, the location of theoriginal work, including name, address andnationality of the person in possession of the work,(In the case of an architectural work, the year ofcompletion of the work should also be shown)

Documents Required for Copyright Registration : 

  • 2 Copies of work
  • Authorization from author/publisher
  • If the work is being used on goods or capable of being used on the goods
  • If the application is being field through attorney, a specific power of attorney in original duly signed bythe applicant and accepted by the attorney
  • Search Certificate from Trade Mark Office(TM-60) ( Only in case of Artistic work ).

Time for Processing Copyright Registration Application

  • Applicaiton Filing – 1 Day
  • Allotment of Diary Number – 1 Day
  • Waiting Period – 30 days
  • Approvals /Objections- 10-15 days

Once an application for Copyright registration is filed, we get allotted Diary Number, have to wait for a mandatory period of 30 days so that no objection is filed in the Copyright office against your claim that particular work is created by you.

Scope of Copyright Registraiton

All kinds of literary and artistic works can be copyrighted, you can also file a copyright application for your website or other computer programs. Computer Software or program can be registered as a ‘literary work’. As per Section 2 (o) of the Copyright Act, 1957 “literary work” includes computer programs, tables, and compilations, including computer databases. ‘Source Code’ has also to be supplied along with the application for registration of copyright for software products. Copyright protection prevents the undue proliferation of private products or works and ensures the individual owner retains significant rights over his creation.

File your Copyright Registration Application

We help you to file your Copyright Registration Application with the Department for the following type of work:

  • Books
  • Sound Recordings
  • Softwares and Apps
  • TM


Frequently Asked Questions on Private Limited Company Registration in India with Foreign Directors & Members

Registration of Private Limited Company in India with foreign Directors and Members is more or less similar to that of normal private limited company with Indian Directors and shareholders except that if foreign nationals are incorporating a company in India there is compliance requirement of Companies Act, FEMA applicable in case of foreign nationals are required to be complied with, here we have listed some frequently asked questions on private limited company registration with Foreign nationals in India

Private Limited Company Registration in India with Foreign Directors

Can two  Foreign Companies form a Company in India?

 Yes, representatives of these companies may be appointed as Directors in Indian Company, one of them should be Indian Resident.

Can a Company may be registered without any object?

No, as per Indian laws a Company must have a lawful object at the time of Incorporation.

Is foreign National is required to visit India for registration of Company?

No, Company registration is 100% online process, they just need to send scanned copy of documents required.

Is the Company required to hold Compulsory Board Meeting and if so does foreign national is required to come India for such meetings?

Yes, Company is required to hold 4 Board Meetings during the financial year BUT foreign directors are not required to visit India for attending the meeting. A meeting may be held through video conferessing.

Can registered office may be situated outside India?

No, it must be situated in India Only.

Can a foreign Company register a Wholly Owned Subsidiary Company in India?

Yes, a foreign company may do so but the new company must have a resident Indian Director.

Who is resident in India?

Every Company shall have at least one Director who has stayed in India for a total period of not less than 182 days in the previous calendar year.

Is there is any RBI Compliance required to be done when there is Foreign Capital Inflow in Company?

In  Sectors where 100% FDI is allowed under Automatic Route, there is no requirement for RBI Approval but Company is required to make reporting of these transaction to RBI to Authorized Dealer Bank.

What documents are required from Foreign National to get Digital Signature and Director Identification Number ?

Notarized or apostilled Copy (if a Commonwealth country) of Passport in support of address and identity proof along with duly.


How to Add Designated Partner in LLP

For adding a Partner in LLP following procedure is to be followed as per the Provisions of LLP Act,2008:

Designated Partner in LLP

Designated Partner in LLP

  1. Eligibility Criteria for becoming a Designated Partner in LLP:

    • Only Individual can be appointed as Designated Partner in LLP.
    • The Person wish to appointed as a Designated Partner in LLP must have a Valid Director Identification Number.
    • Director Identification Number may be obtained by Filling FORM DIR-3 available on www.mca.gov.in after completing the form and attaching supporting documents, this form require pre-certification from Practicing Professional i.e. Company Secretary,Chartered Accountant or Cost Accountant. For obtaining Director Identification Number or Professional Certification.
    • After obtaining Director Identification number an individual is eligible for appointment as a Designated Partner.
  2. Procedure to be followed after obtaining Director Identification Number:

    • After obtaining Director Identification number, the proposed Designated Partner is required to intimate his DIN to the LLP.
    • The LLP is than will call a Meeting of Existing Partner for considering the appointment of Proposed Designated Partner. For getting draft of resolution passed in the Meeting and Preparing Minutes of the Meeting .
    • After approval of Existing Partners in duly conveyed Meeting for appointment of Proposed Designated Partner, A supplementary LLP Agreement is required to be made for draft of Supplimentry LLP Agreement .
    • A consent from Proposed Designated Partner is also required to be obtained in prescribed form.
  3. Intimation to Registrar of Companies about Appointment of New Designated Partner:

    • After Appointment of Designated Partner LLP is required to inform concerned Registrar of Companies i.e. in whose jurisdiction Registered office of LLP is situated, In E-FORM LLP-4 available on Www.mca.gov.in, within 30 days of appointment. you may visit Fastlegal for preparation of Forms and Pre Certification by Professional by CS, CA OR CMA
    • LLP is also required to file Supplementary LLP agreement in LLP FORM-3 within 30 days of such Appointment.

Note: Please ensure to file necessary forms within Prescribed time as late fee is Rs.100/- per day for each day of delay which has no upper limit.


How to Register Sole Proprietorship Firm in India

proprietorship registration

In India a Sole Proprietorship firm may be started by getting any of the following registrations:

Shop Act Registration  or Gumasta Licence for Proprietorship Firm Registration :

Registration under the Shop and Commercial Establishment Act is Commonly known as “Shop Act Registration” Most of the Banks open Current Bank Account for this Registration 

GST Registration for Proprietorship Firm Registration

GST Registration: As GST Registration is Mandatory Only if Gross Sales Exceeds Rs. 20 Lakh in any Financial Year, but you can voluntary take GST Registration, GST Registration is Mandatory if you are selling products on E-commerce Marketplace Websites like: Amazon, Flipkart, Snapdeal, eBay, Esty etc.. also if you are running ads for your business promotion on popular Social Networking like Facebook, Twitter, etc.

GST Registration is required by vendors if they are registered under GST , this makes easier for them to make uniformity in business transitions.

How to Register Sole Proprietorship Firm in India 1

Udhyam Registration for Proprietorship Firm Registration

Udhyam Registration is for MSME Enterprises, this registration will give recognition of MSME enterprise for your business if you are running proprietorship firm business and want to have Single Registration this is a great deal to have in the pocket. You can apply for MSME Registration with Fastlegal Team Members.

Proprietorship Firm Registration

Opening of Current Bank Account in the name of Business : 

Once you get any of the above registration certificates, you can contact to the Bank with which you wish to open your current account.

Its all Done: Your Business is registered business entity now.  you can now do all the banking transactions in the name of your firm.

Benefits of Proprietorship firm Registration:

  1. Fast and Cheaper Registration
  2. Less Legal Compliance
  3. Banking Transaction may be done in the name of the firm
  4. No Need to obtain different PAN for your business entity (Pan of the Proprietor shall be the business entity also)
  5. No need to file return of your income if your income does not exceed the maximum amount liable to tax (which is at present Rs. 250000/- and may be changed in every budget)

Looking for Proprietorship Firm Registration Online?

Just submit your request in below Form and Fastlegal Team Members will contact you shortly for getting your Firm Registered as per your business needs, you just need to share Required documents and information Via E-mail.


Main objects of Interior Decorator Company

Main objects of Interior Decorator Company:
To carry on in India or elsewhere the business to manufacture, develop, fabricate, finish, manipulate and to act as importer, exporter, buyer, seller, job worker, wooden beading and mouldings, wooden packing cases, and to carry on either alone or jointly with one or more persons, government, local or other bodies, the business of to undertake Architectural work, inter designers, erection and installation and to act as civil engineers, architectural engineers, interior decorators, consultants, advisors, contractors, turnkey contractors and managers, and to do all incidental acts and things necessary for the attainment of the above objects.

Book on Company Law


भारत में एनजीओ के लिए NITI Aayog पंजीकरण- In Hindi

सरकारी अनुदान प्राप्त करने के लिए NGO के लिए NITI Aayog पंजीकरण आवश्यक है, अब सभी NGO और स्वैच्छिक संगठनों (VOs) के लिए FCRA पंजीकरण / नवीनीकरण के लिए आवेदन करने से पहले NITI Aayog के साथ पंजीकरण करना और मंत्रालयों या विभागों से अनुदान प्राप्त करना अनिवार्य है। केंद्र सरकार की।

एनजीओ के एनआईटीआईएओजी के साथ पंजीकरण करने के लिए आवश्यक जानकारी और दस्तावेज:

  • एनजीओ का नाम
  • एनजीओ का पूरा पता
  • ईमेल आईडी
  • मोबाइल No.
  • एनजीओ के पैन की कॉपी कार्यालय वाहक विवरण का विवरण:
    • सदस्य का नाम
    • जन्म की तारीख
    • पद
    • पैन कार्ड कॉपी
    • आधार कार्ड कॉपी
    • ईमेल आईडी
    • और मोबाइल नं 
    • संगठन में कार्य करना
  • एनजीओ के फंड का स्रोत
  • मुख्य संपर्क व्यक्ति
  • एनजीओ के कार्य क्षेत्र
  • एनजीओ द्वारा सर्वश्रेष्ठ आचरण प्रमुख गतिविधियाँ / उपलब्धियाँ

Fastlegal NGO के लिए NITI Aayog पंजीकरण सेवाएँ प्रदान करता है, कृपया हमें अपनी आवश्यकताओं के लिए +919782280098 पर संपर्क करें या हमें mail@fastlegal.in पर ईमेल करें।


NITI Aayog Registration for NGO in India

NITI Aayog Registration for NGO is required to get the government grants, Now it is mandatory for all NGOs and voluntary organizations (VOs) to Register with NITI Aayog  before applying for FCRA registration / renewal and to receive grant-in-aid from ministries or departments of the central government.

Information and Documents required to registration with NITI AAYOG of NGO:

  • Name of NGO
  • Full Address of NGO
  • Email Id
  • Mobile No
  • Copy of PAN of NGO
  • Following Details of Office Bearer Details:
    • Name of Member
    • Date Of Birth
    • Designation
    • Pan Card Copy
    • Aadhar Card Copy
    • Email id and Mobile no
    • Working in Organisation Since
  • Source of Funds of NGO
  • Key Contact Person
  • Working Areas of NGO
  • Best Practices Followed by NGO
  • Major Activities/Achievements

Fastlegal Provides NITI Aayog Registration Services for NGO , Please contact us at +919782280098 for your requirements or email us at mail@fastlegal.in