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Incorporation of a wholly-owned subsidiary of foreign Company in India
Incorporation of a wholly-owned subsidiary of foreign Company in India
A subsidiary company is a company which is owned by a larger company or corporation. The larger company is known as the parent corporation. The parent company can own the subsidiary company by owning more than 50% of the issued share capital. A wholly-owned subsidiary is a company whose 100% Equity Share capital owned by another company.
Hello,
Here in Thakurani I am sharing with you some practical documents which are very used by professional like CA/CMA/CS for there client to Incorporate wholly owned subsidiary in India, Here i m also available for give your answer for any queries in this Matter.
so, i want to start by my work
At first day you have to Reserve your company name in ROC official website http://www.mca.gov.in , then MCA Log-in your ID, After log in go in MCA SERVICE go in Company service Tab then click in RUN( Reserve Unique Name)
So, After opening new window of Run you Have to click in Entity Type Box which represents the Type/Class/Category of the proposed company in case name is being reserved for incorporating a new company. It has the following options along with the suffixes which shall be allowed based on the type of entity selected,
Now you have to come in Propose Name 1 tab and Here type your Company Proposed name, after writing full name along with suffixes of company
Click in Auto Check,
Attention for user:- Users are requested to ensure that the proposed name selected does not contain any word which is prohibited under Section 4(2) & (3) of the Companies Act, 2013 read with Rule 8 of the Companies (Incorporation) Rules, 2014. Users are also requested to read and understand Rule 8 of the Companies (Incorporation) Rules, 2014 in respect of any proposed name before applying for the same.
User is advised to enter the objects of the proposed company and any other relevant comments in comments tab support of the proposed name.
It is not mandatory to attach relevant documents and No Objection Certificates only when a name which requires the approval of a Sectoral Regulator or NoC etc. if applicable, as per the Companies(Incorporation) Rules, 2014, is being applied for. Please note that only one file is allowed to be uploaded as an attachment and the size of the file should not exceed 6MB. In case of multiple attachments, please scan all documents into a single file not exceeding 6MB in size, and then upload the same.
Dear, here you have to submit to central government fee of Rs.1000 for each submission.
Upon successful submission of the proposed name and the payment, challan will be generated depicting the details of the fees paid by the user.
Now, i m providing Resolution for Non objection certificates of using Name of Parent company if you are Incorporating proposed company using the name of foreign company.
EXTRACT OF THE MINUTES OF MEETING OF THE BOARD OF DIRECTORS OF THE COMPANY HELD ON XXXDAY, SEPTEMBER 2nd, 201X AT THE REGISTERED OFFICE OF THE COMPANY AT THE REGISTERED OFFICE TO TRANSACT THE FOLLOWING:
Furnishing of No Objection for incorporation of subsidiary company as ABC Limited/Private Limited
The Chairman informed the board that ABC Limited/Private Limited
is going to incorporate its subsidiary company in India in the name of ABC India Private Limited. The Board considered the matter and passed the following resolution for giving its no objection to incorporate ABC India Private Limited”
RESOLVED THAT The consent of the Board be and is hereby accorded to incorporate a wholly owned subsidiary Company in Noida in the State of Uttar Pradesh, India in the name and style of ABC India Private Limited or such other name as may be approved by the concerned Registrar of Companies making an investment of Rs. X lakh (Rupees X Lakh) /- by subscribing to X lakh (X Lakh) Equity Shares of Rs.X/- (Rupee X Only) each and having the following objects as its main objects:
1.
2.
RESOLVED FURTHER THAT the Company does not have any objection to use the word as ABC prefix in the name of the proposed company “ABC India Private Limited”.
RESOLVED FURTHER THAT the Board be and is hereby authorised to make application with the Registrar of Companies, Delhi & Haryana for the availability of the name and incorporation “ABC India Private Limited”
FURTHER RESOLVED THAT Mr. XYZ Kumar Verma and PQR Gupta, directors of the proposed company be and is hereby authorized to furnish the copy of this resolution and do such acts and things as are necessary to give effect to this resolution”
For and on behalf
Foreign perenting company name
Director
PQR Gupta
Date :-
Place:-
