Legal Question in Business Law in India

To register a dotcom as a pvt. ltd. company

I am a student studying MBA in PUNE.

Me along with 6 friends of mine are about to come out with an educational & entertainment website. For which i need to open an account in a BANK with the name of my group ( for example ABC INDIA GROUP ) so that we can accept DDs or cheques from our visitors in regard to any shopping done from our site.

But I came to know that - to open an account in a National bank with such a group name... we need to register it in a register office. I do not know any information about how to register my group name... PLEASE GUIDE ME IN THIS WORK.

Thank you very much.


Asked on 12/04/02, 11:09 am

3 Answers from Attorneys

Vishwa Arya Arya & Co.

Re: To register a dotcom as a pvt. ltd. company

Dear Gentleman:

One needs to apply to the office of Registrar of Companies, under the Indian Companies Act, 1956 depending upon the office of the proposed company. If you plan to have office in Pune, then you have to first decide the name, apply for confirmation of the name with the aforesaid Registrar and then apply for incorporation of the company.

In case of any other question, just do not hesitate to write or call the undersigned.

Best Wishes for a successful project

regards,

Bhushan Arya

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Answered on 12/04/02, 1:12 pm
Mahesh T. Pai M. A. T. Pai & Mahesh T. Pai

Re: To register a dotcom as a pvt. ltd. company

Well, you have the option of registering as a charitable organisation or a non-profit club, but with obvious restrictions regarding profit making, govt. controls, etc.

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Answered on 12/04/02, 2:21 pm
Shrichand Nahar S.V.Nahar, Advocate

Re: To register a dotcom as a pvt. ltd. company

You have to first decide the nature of your organisation. Since your group consists of more than one person to be engaged in a business activity, it may either be a private limited under the provisions of the Companies Act, 1956 or a partnership firm under the provisions of the Partnership Act, 1932.

For a private limited company, you need to first seek approval of name and than follow the procedure for incorporation of a company under the Act. Though, such a formalitity is not required for a partnership firm, the Registrar of Firms may refuse registration of a firm if a firm with similar name exists.

I think you need to consult a lawyer in the matter to decide the modalities.

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Answered on 12/05/02, 3:45 am


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