Since the introduction of Information Technology Act, 2000, Digital Signature Certificate plays an important role in the filing/ registration of legal document/ work. We often read about digital signature certificate. Digital signature certificate is a certificate in which subscriber authenticate an electronic records. It reflects the authenticity of signer. Signer has a power to attest any document which requires his approval. In case of misconduct or fraud, signer is liable for the punishment. Signer may be Managing Director of a company or Chartered Accountant or Chief executive Director. If signer is not satisfied with the representation of information presented for attestation, then he/she may refuse to attest the document.
Before understanding the process of One Person Company, it is very important to learn the fact about one person company. One person company means a company which is scuttles by an individual.. Concept of One Person Company introduced under new Companies Act 2013. One person company allows a single person to create an economic entity. An individual who has established the company is the director of a company. GST registration in Gurgaon also plays an important role in OPC. One person company is neither a private limited company nor a public limited company. There are multiple reasons for the registration of One Person Company:
One person company is a company in which an individual is a promoter or director with limited liability. There is no risk of any misconduct because promoter is the boss itself and nothing will be implemented without his permission.
In case of any fraud or misconduct, promoter himself will be liable for punishment as he is the owner and nothing can proceed without his authentication. Moreover, this the basic disadvantage because he cannot claim on other person in order to save himself from punishment as he himself is the director of an entity.
Individual can borrow loan from bank and financial institution as bank and financial institution can afford to give loans to company rather than to partnership firm.
Ways to apply for digital signature certificate in India for registering a company as a one person company
Step 1: First and foremost step in the process of registration is to pertain for digital signature certificate as digital signature certificate is very essential for the promoter or director of a company to hold. Registration cannot take place without DSC.
Step 2: It is mandatory for director to hold Director Identification Certificate while appointing as a director of a company. So another important step in the process of registration is to apply for Director Identification Number.
Step 3: Next major step in order to get DSC require the application for the approval of the name of a company
Step 4: After submitting the application for name approval, next important step is that all necessary document required to be submitted to Ministry of Corporate Affairs.
Step 5: Filling the form with MCA
Step 6: After the completion of all the formalities, MCA would issue the certificate of incorporation.
As it is, it also requires trademark registration. Registration is very simpler in metropolitan cities. Similarly trademark registration in Delhi also require for OPC