Company Secretarial Services

Why Company Secretarial Services Require Emphasis

The setup of a company’s presence in India starts with its incorporation which involves everything ranging from strategy, execution, and compliance. This three-fold approach allows us to holistically undertake our company secretarial services with an off-the-textbook method to help foreign entrants in India develop a flexible yet robust business methodology, which carries room for scalability in the future.

The incorporation of a business entity can be in multiple forms, based on the type of short-term and long-term presence that an enterprise aims to develop in India. While short-term presence can be facilitated via the likes of project offices and liaison offices; a long-term presence requires the incorporation of a wholly owned subsidiary or a partnership such as an LLP.

To envisage a scale-able business entity based which adds value in the long run and to ensure its timely compliance adherence for smooth business operations, we provide specific emphasis on our corporate secretarial services. Our focus ranges from providing strategic advisory on market entry to undertaking compliance-related work as well.

 

Our Experience In Company Secretarial Services

Complying under the Companies Act as well as foreign exchange transactions regulations, our Company Secretarial Services comprises of distinguished company secretary professionals who work directly in coordination with the Partners of the firm, giving a strong backbone to the service line.

With a combined experience of over 15 years in the service line, our team provides profound advisory with respect to the latest industry developments, compliance management and regular day-to-day operational management of a business entity in India.

 

Our Team And Scope Of Work

Aligning with our firm’s vision, our services are spread from strategy to execution; thereby allowing us to undertake assistance in various matters such as assessing business growth, analyzing sectoral performance, assessing sectoral competition and adhering to compliances with due diligence, wherever and however required to ensure beneficial outcomes and development of optimal tax strategies for the entity at hand.

 

Our Corporate Secretarial Services – At A Glance

Aside from the entire scope of services needed in the incorporation of a new business in India, some of the important functions undertaken by our Company Secretarial Services team include:

  • Transfer of registered address, including state-to-state transfers
  • Advisory on SEBI and FEMA-related matters as well as other legal or financial matters of similar nature
  • Advisory on Company Law regulations and their impact on the client’s business entity in India
  • Compliance and advisory related to start-up funding
  • Capital infusion and transfer of shares
  • Compliance for overseas/foreign direct investment
  • Assistance and maintenance of statutory records of the company
  • Compliance with respect to change in the management
  • Conversion of privately held companies into limited liability partnership (LLP) format entities
  • Compliance for LLPs across the year
  • Advisory and compliance for liaison offices, branch offices, and project offices
  • Advisory and compliance for joint ventures across the year
  • Market entry strategy development with respect to Indian market
  • Assistance in winding up or closure of business entities in India

For information answering the frequently asked questions related to Corporate Secretarial Services, click here

Frequently Asked Questions (FAQs) in Corporate Secretarial Services

Do small businesses have different company secretarial services which are required by them as compared to large businesses?

If we understand this correctly given the context of a small vs large business, here – a small business can essentially be referred to as a company with a smaller revenue/turnover (in the domain of SMEs/MSMEs) and a large business can be a company with a higher revenue/turnover (in the domain of large corporates/MNCs).

Now while some might think that the compliance matters for both types of businesses are different, but they’re actually not and there’s no significant difference between the kind of compliances which are undertaken once a business is incorporated under a specific company format (be it LLP, Pvt. Ltd. Company, Public Ltd. Company, and so on). If your company is later registered as an MSME / startup specifically, even then there are only certain criteria which need to be adhered to but they essentially don’t have any impact on changing the statutory and regulatory compliances, thereby making no difference to the kind of company secretarial services a business avails during its working.

In order to read through the detailed list of compliances which are undertaken by a company (statutory as well as regulatory) under Company Law (secretarial, annual secretarial, different compliances for liaison office/branch office/project office), as well as compliances related to direct tax, indirect tax and transfer pricing, you can view our document on Doing In Business India by clicking here.

What is the procedure to obtain an MSME certificate?

MSME (an abbreviation for Micro, Small and Medium Enterprises) refer to whose investment and turnover limit in plant/machinery for manufacturing or equipment in services is defined by a certain threshold limit – classifying them as either micro enterprises, small enterprises, or medium enterprises.

Recently, the Government revised the criteria for MSME classification – where it essentially removed the distinction between investments in manufacturing and services sector companies and released co criteria to ensure equality prevails. The criteria for obtaining an MSME certificate comes with certain benefits (which is a different topic altogether), but the registration process for the MSME certificate (which can be obtained under the MSME act) is elucidated as follows:

For registering as an MSME, it is imperative to have an Aadhar Number, but you can make a choice with regards to registering with a PAN or without a PAN.

For starters, you need to visit the website “udyamregistration dot gov dot in” (as MSME registration is now known as Udyam Registration for all intents and purposes) and go to the section “For Entrepreneurs Who Are Not Yet Registered As MSME” and enter your Aadhaar Number. Following this, you’ll have an option to proceed either with PAN or without. If you proceed with PAN, your details are automatically verified by government databases and you can fill in your ITR details.

After your PAN details are verified and you click on “Validate PAN”, the Udyam Registration Box will appear where you enter the necessary company/industry details.

If you proceed without PAN and fill the Udyam Registration, make sure to update your PAN and GSTIN details within the designated timeline later.

Once the details are verified and sent, you shall see a “Thank You” message along with your registration number. The MSME certificate has no expiry date as long as the company complies with all the necessary legal and financial norms.

What is a Nidhi Company and how many directors are required in a Nidhi Company in India?

A Nidhi Company is a company which is essentially based on the concept of engaging in non-banking financial lending and borrowing services between its members only. Its main source of funding comes from the contribution of its members. It does not need RBI approval as compared to NBFCs for setting up, therefore making it a relatively easier option to go for. Nidhi companies are regulated by the Ministry Of Corporate Affairs (MCA) and have to comply with Nidhi Rules, 2014 and Public Limited Company norms, since it is always incorporated as a public limited company.

As for the second part of the question – Simply put, you need 7 members and 3 directors to start a Nidhi Company.

However, it is compulsory for a Nidhi company to have 200 members within a year of its existence.

Reporting Partners

Nitin Garg

Nitin Garg
Co-Founder and Partner
Experience: 15 years
Specializes in Transfer Pricing
Former Manager, EY India (TRS)

nitin@coinmen.com
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MOHIT AGGARWAL

Mohit Aggarwal
Co-Founder and Partner
Experience: 15 years
Specializes in Capital Advisory,
Corporate Finance & Project Finance

mohit@coinmen.com
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