INTERNSHIP REPORT

Submitted in partial fulfilment of the requirement for the

award of the degree of

MASTER OF COMMERCE

TITLE- INCORPORATION OF COMPANY

(Private Limited Company)
DURATION: 27/08/2024-28/09/2024

SUBMITTED BY
MOHD FAIZAN KHAN
2310732120026

M.COM 3rd SEMESTER (Pure Commerce)

DEPARTMENT OF COMMERCE
SHIA P.G COLLEGE, LUCKNOW
2024-25
INTERNSHIP APPOINTMENT LETTER
INTERNSHIP CERTIFICATE
 DECLARATION
This is to declare that I Mohd Faizan Khan (2310732120026) student of M.Com IIIrd
semester (Pure Commerce) this internship report on INCORPORATION OF COMPANY
(PRIVATED LIMITED COMPANY), Is my original work. I further declare that I have
strictly observed reporting ethics and duly discharged copyright obligations and properly
referred all outsourcing of materials used in this report and nothing is confidential in this
report in respect of the company of my internship. I take the responsibility for all legal and
ethical requirements regarding this report.

Mohd Faizan Khan

2310732120026
 ACKNOWLEDGEMENT
Firstly, I am grateful to my co-ordinator Prof. Noorul Hasan sir for providing me with
valuable guidance and support throughout the internship period. Their insights and
suggestions have been instrumental in shaping my research and analysis for this report.
I would like to express my appreciation to the entire team at the organization where I
completed my internship. Their collaboration and willingness to share their knowledge and
experiences have been invaluable to me.
Their constructive criticism and input have helped me refine my ideas and clarify my
arguments. I am truly fortunate to have such a supportive academic community.
 TABLE OF CONTENT

S.No. TOPIC Page No.

I FRONT PAGE
II INTERNSHIP OFFER LETTER
III INTERNSHIP CERTIFICATE
IV DECLARATION
V ACKNOWLEDGEMENT
1. ABOUT INTERNSHIP ORGANIZATION
2. ABOUT WORK PROFILE
3. WORK EXPERIENCE
4. KEY LEARNING
CHALLENGES FACED DURING
5. INTERNSHIP
6. CONCLUSION
7. FUTURE SCOPE
8. BIBLIOGRAPHY

P a g e 1 | 91
ABOUT INTERNSHIP
ORGANIZATION

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 COMPANY DETAILS

Name Salman & Associates

Established 2020

No 03 UGF, NEW METRO COMPLEX,

NEAR LEKHRAJ METRO STATION,
Location
SANJAY GANDHI PURAM, INDIRA
NAGAR LUCKNOW-226016.

E-mail [email protected]

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COMPANY MISSION STATEMENT
"At Salman & Associate, our mission is to empower individuals and businesses to achieve
financial success through tailored strategies, transparent guidance, and expert insights. We are
committed to fostering long-term relationships built on trust and integrity, ensuring our
clients navigate their financial journeys with confidence and clarity."

COMPANY VISION
"Our vision is to be a trusted partner in financial empowerment, leading our clients toward
sustainable growth and prosperity. We aspire to create a world where financial literacy and
access to expert advice are available to all, enabling individuals and businesses to realize
their full potential and achieve their dreams."

CORE VALUES

• Integrity: We uphold the highest standards of honesty and transparency in all our
dealings, fostering trust with our clients and partners.

• Client-Centricity: Our clients are at the heart of everything we do. We listen,

understand, and tailor our services to meet their unique needs.

• Excellence: We strive for excellence in our work, continually enhancing our skills and
knowledge to provide the best possible solutions.

• Collaboration: We believe in the power of teamwork, both within our firm and with
our clients, to achieve shared goals.

• Innovation: We embrace change and seek innovative solutions to navigate the

evolving financial landscape.

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 • Empowerment: We are dedicated to empowering our clients through education and
informed decision-making, enabling them to take control of their financial futures.

• Sustainability: We are committed to promoting sustainable financial practices that

benefit not just our clients, but also the community and the environment.

SERVICES OFFERED
1. Personal Financial Planning
• Investment Strategy
• Retirement Planning
• Tax Optimization
• Estate Planning
2. Corporate Financial Advisory
• Business Valuation
• Mergers & Acquisitions
• Risk Management
• Financial Forecasting
3. Tax Advisory Services
• Corporate Tax Planning
• Compliance and Reporting
• Income Tax Filing
• GST Registration
• GST Filing
4. Incorporation Services
• Private Sector Company
• Public Sector Company
• One Person Company (OPC)

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Target Market

• Individuals: High-net-worth individuals, families, and young professionals seeking

financial independence and security.

• Businesses: Small to medium enterprises (SMEs), startups, and corporations needing

financial advice and strategy.

Commitment to Community
We are dedicated to giving back to the community through financial literacy programs,
workshops, and pro bono consulting for non-profits.

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ABOUT WORK
PROFILE

P a g e 7 | 91
 Working Profile

Position Title Part-time Assistant Intern

Location Salman & Associates, No 03 UGF, NEW

METRO COMPLEX, NEAR LEKHRAJ
METRO STATION, SANJAY GANDHI
PURAM, INDIRA NAGAR LUCKNOW-
226016.
Duration 27 Aug 2024 – 28 Sept 2024

Reporting To Mohd Yusuf

P a g e 8 | 91
 DAY-WISE TABLE OF WORKING
DAY-1
Introduction to the firm’s values, and culture.
DAY-2
Overview of the team structure and key personnel.
DAY-3
Familiarization with office policies and portal/tools like MCA (Ministry of
Corporate Affairs), Excel, Word, etc
DAY-4
Learning about financial consultancy landscape by superior.
DAY-5
Learn about the various services offered like Incorporation of Company, GST
Registration, GST Filing etc.
DAY-6
Take notes on client needs over the calls and provided it to the superior.
DAY-7
Maintaining some data in the excel sheets for the superior.
DAY-8
Maintaining some data in the excel sheets for the superior.
DAY-9
Maintaining some data in the excel sheets for the superior.
DAY-10
Present findings to your supervisor.
DAY-11
Using Excel to record client data.
DAY-12
Learning about Ministry of Corporate Affairs portal.

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 DAY-13
Learning about DSC (Digital Signature) and its requirement needed for every
member and director
DAY-14

Learning about various documents required for the Incorporation of company

like Pan card, Aadhar Card, photos and performing other office work like
keeping records.

DAY-15
Take notes on client needs over the calls and provided it to the superior.
DAY-16
Using Excel to record client data.
DAY-17
Learning about SPICe + Part A on MCA portal for Incorporation of company.
DAY-18
Maintaining some data in the excel sheets for the superior.
DAY-19
Learning about SPICe + Part B on MCA portal for Incorporation of company.
DAY-20
Learning about AGILE-PRO-S (INC-35) on MCA portal for Incorporation of
company.
DAY-21
Using Excel to record client data.
DAY-22
Learning about INC-9 on MCA portal for Incorporation of company.
DAY-23
Maintaining some data in the excel sheets for the superior.
DAY-24

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 Take notes on client needs over the calls and provided it to the superior.
DAY-25
Using Excel to record client data & getting feedback from superior.
DAY-26
Learning about re-submission of company in case of any error found in the
name of company matching with another company and doing complete
process again with a different name which include filling of SPICe + Part A,
SPICe + Part B, AGILE-PRO-S (INC-35), INC-9, INC-34, INC-33.
DAY-27
Discussing with superior for any suggestions for improvement.
DAY-28
Reflecting on the experience from the internship.

P a g e 11 | 91
Overview
As a Financial Consultancy Intern, I played a vital role in supporting my team and superior in
delivering high-quality financial services and solutions to the clients. The internship was
designed to provide a comprehensive learning experience, allowing me to apply my academic
knowledge in a real-world setting while gaining valuable insights into the finance industry.

Key Responsibilities
Client Support

• Participate in client calls and meetings, taking notes and gathering information to
address client inquiries or concerns. Shadowing superior to learn effective
communication strategies and techniques.
• Briefing materials for client meetings, ensuring that all information is clear, accurate,
and tailored to client needs.
• Assist in building and maintaining strong client relationships through regular
communication and follow-ups.

Report Preparation

• Maintain organized records of all documents, data, and client interactions, ensuring
compliance with company policies and confidentiality standards.
• Assist in preparing comprehensive reports. Ensuring reports are well-structured,
informative, and visually appealing using tools like PowerPoint and Excel.

Team Collaboration

• Work closely with superior on various client requirement, gaining insights into their
strategic thinking and problem-solving approaches.
• Actively contribute to brainstorming sessions and feedback.

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Administrative Tasks

• Maintain organized electronic and physical files of client documents, reports, and
correspondence for easy retrieval.
• Collaborate with team superior to prepare documents for client proposal, utilizing
Excel.

Skills Required

• Teamwork
• Excel
• Effective Communication

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WORK EXPERIENCE

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A company, in a business context, is defined as an organized entity that is formed to conduct
commercial activities. A company is a structured entity designed to conduct business
activities, characterized by its legal status, ownership, management, and operational
processes. Understanding the nuances of what constitutes a company is essential for anyone
involved in business, whether as an owner, employee, investor, or regulator. This entity is
characterized by several key components and principles that distinguish it from other types of
organizations. Here’s a detailed breakdown:

1.Legal Definition
A company is typically recognized as a legal entity that can own property, enter into
contracts, sue, and be sued in its own name. This legal distinction provides protection to its
owners (shareholders or partners) from personal liability for the company’s debts and
obligations.

2.Types of Companies

• Sole Proprietorship
Owned by a single individual, this is the simplest form of business organization,
where the owner is personally liable for all business debts. A sole proprietorship is the
simplest form of business ownership, where a single individual owns and operates the
business.

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 Here are some key points:
1. Ownership
One person owns the entire business and is responsible for all aspects,
including profits and losses.

2. Liability
The owner has unlimited personal liability, meaning personal assets can be
used to settle business debts.

3. Taxation
Income from the business is reported on the owner's personal tax return,
simplifying the tax process.

4. Management
The owner makes all decisions, allowing for flexibility and quick decision-
making.

5. Formation
It’s easy and inexpensive to set up, often requiring minimal paperwork
compared to other business structures.

6. Control
The owner has complete control over operations and the direction of the
business.

While a sole proprietorship is straightforward and low-cost, it's essential for the owner
to consider the risks, especially regarding liability and access to funding.

• Partnership
An arrangement where two or more individuals share ownership, profits, and
liabilities. Partnerships can be general or limited, with different levels of liability and
management roles.

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Here are the main aspects of a partnership:
1. Types of Partnerships
i. General Partnership
All partners share equal responsibility for managing the
business and are personally liable for debts.
ii. Limited Partnership (LP)
Includes both general partners (with full liability) and limited
partners (who have liability only up to their investment).
iii. Limited Liability Partnership (LLP)
Similar to a general partnership, but provides some protection
from personal liability for partners, typically used by
professionals like lawyers and accountants.

2. Formation
Partnerships can be established through a partnership agreement, which
outlines each partner’s roles, responsibilities, and profit-sharing arrangements.

3. Liability
Partners typically share personal liability for business debts, though this can
vary in limited partnerships and LLPs.

4. Taxation

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 Partnerships are pass-through entities, meaning profits and losses are reported
on the partners’ individual tax returns, avoiding double taxation.

5. Management
Decision-making is often shared among partners, which can lead to diverse
ideas but may also result in conflicts.

6. Funding
Partnerships can potentially have easier access to capital since multiple
partners can contribute resources and expertise.

A partnership can be an effective way to leverage the strengths of multiple

individuals, but it’s crucial for partners to establish clear agreements to avoid
misunderstandings and disputes.

• Corporation
A more complex structure, corporations are legally separate from their owners,
allowing them to raise capital through stock sales. Owners (shareholders) enjoy
limited liability, meaning they are only responsible for the company's debts up to their
investment amount.

P a g e 18 | 91
 Here are the main aspects of a corporation:
1. Limited Liability
Shareholders are typically not personally liable for the debts and liabilities of
the corporation beyond their investment in shares.

2. Perpetual Existence
A corporation can continue to exist independently of changes in ownership or
management.

3. Ownership Structure
Corporations can issue shares of stock, allowing for ownership to be
distributed among multiple shareholders.

4. Regulatory Compliance
Corporations are subject to specific regulations and governance requirements,
which can vary by jurisdiction.

5. Ability to Raise Capital

Corporations can raise funds by selling shares or issuing bonds.

• Limited Liability Company (LLC)

This hybrid structure combines features of corporations and partnerships. Owners
(members) enjoy limited liability, and income can be passed through to their personal
tax returns, avoiding double taxation. A Limited Liability Company (LLC) is a
popular business structure that combines elements of both corporations and
partnerships.

P a g e 19 | 91
 Here are the key features:
• Limited Liability
Owners (members) have limited personal liability for the company's debts and
obligations, protecting their personal assets from business liabilities.

• Flexible Management
LLCs can be managed by the members themselves or by appointed managers,
allowing for flexibility in management structures.

• Tax Treatment
By default, LLCs are treated as pass-through entities for tax purposes, meaning profits
and losses are reported on the owners’ personal tax returns. However, they can also
choose to be taxed as a corporation if beneficial.

• Formation
Establishing an LLC typically requires filing articles of organization with the state
and paying a formation fee. An operating agreement, although not always required, is
advisable to outline the management and operational structure.

• Fewer Formalities
Compared to corporations, LLCs have fewer regulatory requirements and ongoing
formalities, such as annual meetings or extensive record-keeping.

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 • Ownership Flexibility
An LLC can have an unlimited number of members, and there are fewer restrictions
on ownership compared to S Corporations.

• Credibility
Having “LLC” in the business name can enhance credibility with customers and
suppliers.

An LLC is a versatile option for many small to medium-sized businesses, offering

liability protection and operational flexibility.

3. Key Components

• Ownership Companies
can be owned by individuals (in sole proprietorships or partnerships) or by
shareholders (in corporations).

• Management Structure
Companies have defined roles and hierarchies. For instance, corporations typically
have a board of directors, executives (CEO, CFO, etc.), and various departments to
manage operations.

• Business Purpose
The primary goal of most companies is to generate profit, although many also aim to
achieve social, environmental, or community-related objectives.

4. Operational Features

• Formation Companies are created through legal processes, often requiring

registration with government authorities. This includes filing articles of incorporation
for corporations or partnership agreements for partnerships.

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 • Compliance and Regulation Companies must adhere to a range of regulations and
laws, including tax obligations, labor laws, and industry-specific regulations.
Compliance is crucial for maintaining legal standing and avoiding penalties.
• Financing Companies can raise capital through various means, including loans,
equity financing (selling shares), or reinvestment of profits. The choice of financing
can impact the company’s structure and operations.

5. Economic Role

• Market Participation
Companies play a vital role in the economy by producing goods and services, creating
jobs, and contributing to GDP.

• Innovation and Competition

Companies drive innovation through research and development, competing in markets
to offer better products and services, which can lead to improved consumer choices
and economic growth.

6. Challenges and Considerations

• Liability
Understanding the level of liability (personal vs. limited) is crucial when choosing a
business structure.

• Tax Implications
Different company structures face varying tax obligations, which can influence
profitability and financial planning.

• Growth and Scaling

Companies often seek growth, which can involve expanding operations, entering new
markets, or developing new products. This process can bring about additional
regulatory and operational challenges.
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Private Sector Company
A private sector company refers to a business organization that is owned, operated, and
controlled by private individuals or groups, rather than by the government. Private sector
companies play a crucial role in the global economy, fostering innovation, creating jobs, and
driving competition. Understanding their characteristics, challenges, and impact can provide
valuable insights for entrepreneurs, investors, and policymakers. Here’s a detailed overview
of private sector companies:

1. Definition and Characteristics

• Ownership
Private sector companies are owned by individuals, partnerships, or corporations.
Ownership can be held by a small group of people (such as in sole proprietorships and
partnerships) or by many shareholders (in private corporations).

• Profit Orientation
The primary goal of private sector companies is to generate profit for their owners or
shareholders. They operate under market-driven principles, responding to consumer
demand and competition.

• Legal Structure
Private sector companies can take various forms, including:
a. Sole Proprietorship: Owned by one person, with unlimited liability.
b. Partnership; Owned by two or more individuals, sharing profits and
liabilities.
c. Private Limited Company (Ltd): Owned by a limited number of
shareholders, where shares are not publicly traded. Liability is limited
to the amount invested.
d. Limited Liability Company (LLC): Provides limited liability
protection while allowing for flexible management structures.

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2. Types of Private Sector Companies

• Small and Medium Enterprises (SMEs)

Often locally owned businesses that play a crucial role in job creation and economic
development. Under the Indian Companies Act, 2013, a Small and Medium
Enterprise (SME) is defined primarily based on its paid-up capital and turnover.
Specifically:

Small Company
• Paid-up capital must not exceed ₹50 lakh (5 million).
• Turnover must not exceed ₹2 crore (20 million).

Medium Enterprise
The Companies Act itself does not define medium enterprises, but the definition is
often derived from the Micro, Small and Medium Enterprises Development
(MSMED) Act, 2006. According to this act:
• Small Enterprises: Investment in plant and machinery does not exceed ₹10
crore (100 million).
• Medium Enterprises: Investment in plant and machinery is more than ₹10
crore but does not exceed ₹50 crore (500 million).

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 SMEs are crucial for India's economic development, contributing significantly to
employment and innovation.

• Corporations’
Larger private companies that can have hundreds or thousands of employees, often
involved in significant market activities. A corporation is a legal entity that is
separate from its owners (shareholders) and has its own rights and responsibilities.
Key characteristics of a corporation include:

6. Limited Liability
Shareholders are typically not personally liable for the debts and liabilities of
the corporation beyond their investment in shares.

7. Perpetual Existence
A corporation can continue to exist independently of changes in ownership or
management.

8. Ownership Structure
Corporations can issue shares of stock, allowing for ownership to be
distributed among multiple shareholders.

9. Regulatory Compliance
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 Corporations are subject to specific regulations and governance requirements,
which can vary by jurisdiction.

10. Ability to Raise Capital

Corporations can raise funds by selling shares or issuing bonds.Overall,
corporations are commonly used for larger business operations due to their
capacity for growth and legal protections for owners.

• Family-Owned Businesses
Companies that are owned and operated by family members, often spanning multiple
generations. A family-owned business is a company that is owned and operated by
members of the same family. These businesses can vary in size and structure, ranging
from small enterprises to large corporations. Key characteristics include:

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 1. Ownership
At least a significant portion of the business is owned by family members,
often passed down through generations.

2. Management
Family members are typically involved in the management and decision-
making processes, although they may also hire non-family professionals.

3. Values and Culture

Family-owned businesses often emphasize values such as trust, loyalty, and
long-term relationships, which can influence their corporate culture.

4. Succession Planning
Transitioning leadership and ownership to the next generation is a common
challenge, requiring careful planning to ensure continuity.

5. Community Impact
Many family-owned businesses are deeply rooted in their communities,
contributing to local economies and employment.

Family-owned businesses play a significant role in the global economy, often bringing
unique strengths and challenges compared to non-family enterprises.

• Startups
Newly established companies, typically in the technology or service sectors, focused
on innovation and growth. A startup is a newly established business, typically in the
early stages of development, focused on bringing a unique product, service, or
solution to market. Key characteristics of startups include:

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 1. Innovation
Startups often aim to solve specific problems or address gaps in the market
through innovative ideas or technologies.

2. Scalability
Many startups are designed to grow rapidly, often leveraging technology to
reach a larger customer base without a corresponding increase in costs.

3. Funding
Startups frequently seek external funding from venture capitalists, angel
investors, or crowdfunding to support their growth and development.

4. High Risk and Reward

Startups face significant uncertainty and risk, but they also have the potential
for substantial returns if they succeed.

5. Flexible Structure
Startups typically have a more informal and agile organizational structure,
allowing them to adapt quickly to changes in the market.

Startups play a crucial role in driving innovation, creating jobs, and fostering
economic growth, particularly in technology-driven sectors.
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3. Key Features

• Market Competition
Private sector companies compete in open markets, responding to consumer
preferences and price sensitivity. This competition drives innovation, efficiency, and
improved customer service.

• Flexibility and Adaptability

Unlike public sector organizations, private sector companies can quickly adapt to
changing market conditions without bureaucratic constraints.

• Capital Raising
Private companies can raise capital through personal funds, loans, private equity,
venture capital, or issuing shares privately. However, they do not have access to
public stock markets.

4. Regulatory Environment

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 • Compliance
Private sector companies must adhere to local, state, and national regulations,
including tax laws, labor laws, and industry-specific regulations. Compliance is
critical for legal operation and reputation.

• Limited Disclosure
Unlike publicly traded companies, private sector companies often have fewer
disclosure requirements, allowing them to keep financial information confidential.

5. Role in the Economy

• Economic Growth
Private sector companies are vital for economic development, driving job creation,
innovation, and productivity.

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 • Investment and Capital
They attract investment, stimulate economic activity, and contribute significantly to
national GDP.

• Social Impact
Many private companies engage in corporate social responsibility (CSR), contributing
to community development and addressing social issues.

6. Challenges Faced

• Access to Capital
Private sector companies, especially small businesses, may struggle to secure
financing compared to larger corporations.

• Market Volatility
Economic downturns or changes in consumer behavior can significantly impact
private sector companies, especially those heavily reliant on consumer spending.

• Regulatory Compliance
Navigating the regulatory landscape can be complex and costly, particularly for small
businesses with limited resources.

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Private Limited Company
A private limited company (Ltd) is a type of business structure that limits the liability of its
shareholders. A private limited company is a popular choice for small to medium-sized
enterprises (SMEs) due to its balance of limited liability, flexibility in management, and
relative ease of formation. It provides a suitable structure for businesses looking to grow
while maintaining control among a limited group of shareholders.

Here are some key features:

• Limited Liability
Shareholders are only responsible for the company’s debts up to the amount they
invested, protecting personal assets.

• Ownership
Shares are privately held and cannot be sold to the general public. Ownership is often
limited to a small group of individuals, such as family or close associates.

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 • Regulatory Requirements
Private limited companies have fewer regulatory requirements compared to public
companies, but they still need to file annual financial statements and comply with
local laws.

• Management
The company is usually managed by its directors, who may also be shareholders.

• Raising Capital
While they cannot issue shares to the public, private limited companies can raise
capital by bringing in new shareholders or securing loans.

• Continuity
The existence of the company is not affected by changes in ownership, providing
stability.

Private limited companies can vary based on their structure, ownership, and purpose. Here
are some common types:

1. Single Member Private Limited Company

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 Overview
• A variant of the private limited company with a single shareholder.
Characteristics
• Operates under similar regulations as a standard Ltd
• The sole member has complete control over decision-making.
Benefits
• Simplicity in setup and management.
• Full control for the owner.
• Limited liability protection.
Drawbacks
• May face challenges in raising capital compared to companies with multiple
shareholders.

2. Private Limited Company Limited by Guarantee

Overview
Commonly used for non-profit organizations or charities, where members agree to
pay a fixed amount in case of winding up.
Characteristics
• No share capital; profits are reinvested into the company.
• Members’ liabilities are limited to the amount they guarantee.
Benefits
• Suitable for organizations focused on a social cause.
• Provides limited liability while promoting reinvestment in the mission.
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 Drawbacks
• Cannot distribute profits to members, which may deter some investors.

3. Holding Company

Overview
A company that primarily exists to own shares in other companies rather than engage
in operational activities.
Characteristics
• Controls subsidiary companies, providing oversight and direction.
• Can diversify investments and manage risk.
Benefits
• Centralized control over multiple businesses.
• Limited liability extends to subsidiaries.
Drawbacks
• Complexity in management and regulatory compliance.
• Potential for double taxation on profits.

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4. Subsidiary Company

Overview
A private limited company that is owned or controlled by another company (the
parent company).
Characteristics
• Operates independently but is subject to the parent company’s control.
• Can have its own board of directors and management.
Benefits
• Allows parent companies to diversify operations and reduce risk.
• Local management can be more responsive to market conditions.
Drawbacks
• Parent company may bear financial responsibility for the subsidiary’s debts.
• Conflicts may arise between the subsidiary and parent company’s objectives.

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5. Special Purpose Vehicle (SPV)

Overview
A legal entity created for a specific financial project or transaction, often used to
isolate financial risk.
Characteristics
• Typically set up as a limited liability company.
• Engaged in a specific project (e.g., real estate development, securitization).
Benefits
• Isolates financial risk, protecting the parent company from potential losses.
• Simplifies complex financial transactions.
Drawbacks
• Regulatory scrutiny, especially in financial sectors.
• Complexity in setup and management.

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6. Professional Limited Company (PLC)

Overview
Common among licensed professionals, such as doctors, lawyers, or accountants, who
form a limited company.
Characteristics
• Members remain personally liable for their professional actions.
• Limited liability protects members from the company’s debts.
Benefits
• Combines the benefits of limited liability with professional autonomy.
• Can enhance credibility with clients.
Drawbacks
• Personal liability remains for professional negligence or malpractice.
• Regulatory restrictions may apply.

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7. Family Limited Company

Overview
A private limited company owned and operated by family members.
Characteristics
• Typically used for estate planning and management of family assets.
• Family members can be shareholders and directors.
Benefit
• Maintains control of family assets across generations.
• Can offer tax benefits related to estate and gift taxes.
Drawbacks
• Potential for family disputes affecting business decisions.
• Limited access to external capital.

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8. Farmer Producer Company
A Farmer Producer Company (FPC) is a type of organization in which farmers
come together to form a cooperative that is legally recognized as a company. This
structure is designed to empower farmers by enabling them to work collectively,
enhance their bargaining power, and improve their access to resources, markets, and
technology.

Characteristics
• Cooperative Structure
• Composed of farmers as members, each with an equal vote regardless
of their shareholding.
• Members pool resources to improve production, processing, and
marketing of their agricultural products.
• Legal Status
• Registered under the Companies Act, providing legal recognition and
limited liability to members.
• Capital Generation
• Can raise capital through member contributions and external
investments, including loans or grants.

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 • Focus on Agriculture
• Primarily engaged in activities related to the production, processing,
and marketing of agricultural produce.
Benefits
• Increased Bargaining Power
• By pooling resources, farmers can negotiate better prices for inputs
like seeds and fertilizers.

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Public Limited Company
A Public Limited Company (PLC) is a type of company that allows members to freely buy
and sell shares without restrictions, unlike a Private Limited Company. This type of company
can invite the public to subscribe to its shares and can have an unlimited number of
shareholders.

Here are come key requirements for Public Limited Company:

1. Incorporation and Registration

To incorporate a Public Limited Company, the following steps are generally involved:
• Name Approval
The proposed name must be unique and compliant with naming regulations.
• Document Submission
The Memorandum of Association (MoA) and Articles of Association (AoA)
must be drafted and submitted to the Registrar of Companies (RoC).

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 • Declaration
A declaration by directors regarding compliance with all requirements must be
submitted.
• Registration Fees
Payment of requisite registration fees is necessary.

Once approved, the company is issued a Certificate of Incorporation, allowing it to

operate as a legal entity.

2. Minimum Requirements
• Members
A minimum of seven members is required for incorporation.
• Directors
At least three directors must be appointed, of whom at least one must be a
resident of India.
• Paid-Up Capital
A minimum paid-up capital of ₹5 lakh or higher, as specified, is necessary for
incorporation.

3. Share Capital
• Types of Shares
Public Limited Companies can issue equity shares, preference shares, or any
other class of shares.
• Rights and Restrictions
Shareholders have the right to vote and receive dividends, but shares can also
be subject to certain restrictions as stipulated in the AoA.

4. Regulations and Compliance

• Companies Act, 2013
This is the primary legislation governing companies in India, detailing
requirements for incorporation, operation, and compliance.

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 • Securities and Exchange Board of India (SEBI)
For companies that get listed on stock exchanges, SEBI regulations apply,
particularly concerning disclosures, insider trading, and corporate governance.

5. Governance
• Board of Directors
The company is managed by a board of directors, which is responsible for
making strategic decisions. They must act in the best interests of the
shareholders.
• Committees
Companies are often required to form various committees (e.g., Audit
Committee, Nomination and Remuneration Committee) for effective
governance.

6. Financial Disclosure
• Annual Returns
Public Limited Companies must file annual returns and financial statements
with the RoC.
• Auditor's Report
Financial statements must be audited by a qualified auditor.
• Interim Financial Statements
Listed companies must also publish quarterly financial results.

7. Public Offering
• Initial Public Offer (IPO)
Public Limited Companies can raise capital through an IPO, offering shares to
the public for the first time.
• Follow-On Offer
They can also conduct follow-on public offers to raise additional capital.

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8. Rights of Shareholders
• Voting Rights
Shareholders have the right to vote on key issues, including the election of
directors and major corporate changes.
• Dividends
They are entitled to dividends as declared by the company.
• Inspection of Records
Shareholders have the right to inspect certain company records and
documents.

9. Limited Liability
• The concept of limited liability means that shareholders are liable only to the
extent of their unpaid shares. Their personal assets are protected, making
investment less risky.

10.Dissolution
• Winding Up
A Public Limited Company can be dissolved voluntarily or through a tribunal,
following prescribed procedures.
• Liquidation
Upon winding up, assets are sold off to pay creditors, and any remaining funds
are distributed among shareholders.

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Private Limited v/s Public Limited Difference

S. no Basis of Private Limited Public Limited

Difference Company Company
1. Number of 2 to 200 members. Minimum 7 members;
Members no upper limit.
2. Share Restricted; shares Free transfer of shares
Transferability cannot be freely
transferred
3. Issue of Shares Cannot invite the Can issue shares to the
public to subscribe public
4. Minimum Paid- No specific Minimum ₹5 lakh
Up Capital requirement
5. Regulatory Fewer compliance Stricter compliance
Requirements requirements and reporting

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6. Management Typically managed by Managed by a larger,
and Control a small group diverse shareholder
base
7. Legal Status Separate legal entity Separate legal entity
with fewer obligations with extensive
obligations
8. Public Limited public Required to disclose
Disclosure disclosure financial statements
publicly
9. Appointment of Minimum of 2 Minimum of 3 directors
Directors directors required required
10. Auditor Must appoint an Must appoint an
Requirements auditor auditor and have a
more rigorous audit
process

11. Annual General Not mandatory for Mandatory to hold

Meeting (AGM) small companies AGM annually
12. Rights of Limited rights; Greater rights;
Shareholders minority shareholders shareholders can vote
may have less and influence
influence management decisions

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Role of Promoter in Incorporation of Company

Incorporating a company under the Companies Act, 2013 in India involves several key roles,
among which promoters play a crucial part. A promoter is an individual or group that plays a
significant role in setting up a company. They are responsible for initiating the process of
incorporation, arranging for capital, and formulating the company's business plan.

Promoters are essential to the incorporation of a company under the Companies Act, 2013, as
they lay the groundwork for the business's formation and initial operations. Their actions and
decisions significantly influence the company’s future success and compliance with legal
requirements.

Key Functions of Promoters

1. Conceptualization of Business Idea

• Promoters identify business opportunities and develop a viable business
model.
• They decide the nature of the business, the market it will serve, and the
competitive advantage.
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2. Preparation of Incorporation Documents
• Memorandum of Association (MoA)
This document outlines the company's objectives, scope of activities, and
basic structure. It includes:
• Name clause
• Registered office clause
• Objective clause
• Liability clause
• Capital clause
• Articles of Association (AoA)
This document defines the internal rules and regulations governing the
company’s management, rights of members, and procedures for decision-
making.

3. Capital Arrangement
• Promoters are responsible for securing initial funding through:
• Personal investments
• Contributions from family and friends
• Attracting angel investors or venture capitalists
• They may also prepare a business plan to present to potential investors.

4. Compliance with Regulatory Requirements

• Promoters must ensure that all legal formalities are complied with, including
adherence to the Companies Act and related regulations.
• They are responsible for filing necessary forms and documents with the
Registrar of Companies (RoC).

5. Appointment of Initial Directors

• Promoters usually appoint the first board of directors, who will manage the
company post-incorporation.
• They may also designate key managerial personnel.

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6. Preliminary Marketing and Publicity
• To generate interest and support for the new venture, promoters often engage
in marketing activities.
• This may include branding, creating a company website, and social media
outreach to attract customers and investors.

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Types of Forms needed to be fill for Incorporation
The Ministry of Corporate Affairs (MCA) provide various different forms for users/business
houses to easily and effectively go through the process of incorporation through online
medium at MCA portal. Some of the forms are mentioned below:

SPICe + Part A
The SPICe+ Part A form is an essential document from the Ministry of Corporate Affairs
(MCA) in India, used primarily for the reservation of a company name. When filling out this
form, you must provide key details such as the proposed company name, type, class,
category, and the main division of industrial activity. This form is submitted online through
the MCA portal, making the process streamlined and accessible. It's crucial to ensure that the
proposed name adheres to the guidelines set forth by the Companies Act, 2013, which
prohibits certain words and expressions. Additionally, there is a fee associated with the
submission, which varies depending on the type of company and other factors. Successfully

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completing the SPICe+ Part A form is the first step in the journey of company incorporation,
laying a solid foundation for future business endeavours.

SPICe + Part B
The SPICe+ Part B form is integral to the process of incorporating a new company in India,
as provided by the Ministry of Corporate Affairs (MCA). After reserving a company name
using SPICe+ Part A, applicants proceed with Part B to finalize incorporation. This form
requires details such as the company's name, registered office address, and information about
the directors and subscribers. Submitted online through the MCA portal, the form must be
completed with necessary linked documents, digitally signed, and uploaded, followed by fee
payment. Upon submission, the MCA reviews and processes the application, leading to the
official incorporation of the company once approved. This comprehensive approach ensures
that all statutory requirements are met efficiently.

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INC-35 (AGILE PRO S)
The AGILE-PRO-S form (also known as INC-35) is a comprehensive e-form introduced by
the Ministry of Corporate Affairs (MCA) in India. It is designed to streamline the process of
company incorporation by allowing applicants to apply for multiple registrations simultaneously.
These registrations include the Goods and Services Tax Identification Number (GSTIN),
Employee State Insurance Corporation (ESIC) registration, Employees' Provident Fund
Organization (EPFO) registration, Profession Tax Registration (for Maharashtra), opening of a
bank account, and Shops and Establishment Registration.

By submitting the AGILE-PRO-S form along with the SPICe+ Part B form, companies can
efficiently complete all necessary registrations in one go. This form simplifies the incorporation
process, ensuring that all statutory requirements are met efficiently and effectively.

INC-9
Form INC-9 is a declaration form mandated by the Ministry of Corporate Affairs (MCA) in
India, necessary during company incorporation. It requires declarations from the subscribers and
first directors of the proposed company, affirming the accuracy and completeness of the
information provided in the incorporation form. Additionally, it confirms that they have not been
convicted of any offenses related to the promotion, formation, or management of any company
in the past five years, nor found guilty of any fraud, misfeasance, or breach of duty under the
Companies Act. It also includes compliance with the Foreign Exchange Management (Non-debt

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Instruments) Rules, 2019, if applicable. This form is typically submitted alongside the SPICe+
Part B form and is a crucial step in ensuring all statutory requirements are met for company
incorporation.

INC-33
Form INC-33, also known as the e-Memorandum of Association (e-MOA), is an essential
part of the company incorporation process in India. It details the company's objectives, scope of
operations, and structure, ensuring that everything is in line with the Companies Act, 2013. This
form must be submitted along with the SPICe+ Part B form. The e-MOA lays the groundwork
for the company's legal and operational framework, making it a vital document for establishing a
new company. Through this digital submission, the process becomes more streamlined and
transparent, aligning with the modernized approach of the Ministry of Corporate Affairs.

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INC-34
Form INC-34, also known as the SPICe AOA (Articles of Association), is an electronic form
introduced by the Ministry of Corporate Affairs (MCA) in India to simplify the company
registration process. This form is used to draft the Articles of Association, which outline the
company's internal management rules and regulations1. It is submitted along with the SPICe+
Part B form and is mandatory for all companies except Section 8 companies. The e-AOA
ensures that the company's governance framework is clearly defined and aligns with the
Companies Act, 2013.

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REQUIRED DOCUMENTS FOR INCORPORATION
Before incorporating a Private Limited Company in India, several documents are required from
the proposed directors and subscribers. Here’s a list of the essential documents:

1. Identity Proof
• For Indian nationals: Aadhar card, PAN card, or passport.
• For foreign nationals: Passport and any other valid identification (like a
driver’s license).

2. Address Proof
• Utility bill (electricity, water, etc.) not older than two months.
• Bank statement.
• Rental agreement or ownership proof (if applicable).

3. Photographs
• Recent passport-sized photographs of all directors and subscribers.

4. Digital Signature Certificate (DSC)

• DSC for all directors and subscribers, as it is mandatory for e-filing.

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5. Memorandum of Association (MoA) and Articles of Association (AoA)
• Drafted documents outlining the company’s objectives and internal regulations.
These can be prepared after name approval but are needed for the incorporation
filing.

6. NOC from the Owner (if applicable)

• No Objection Certificate from the owner of the property (if the registered office
is rented).

7. Directors’ Consent
• Form DIR-2: Consent to act as a director.

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8. Declaration of Interest
• A declaration regarding any interest in other entities (if applicable).

9. Proof of Registered Office

• Document proving the registered office address (can be a utility bill or lease
agreement).

10.Bank Account Opening Documents (if applicable)

• Although not mandatory at the incorporation stage, some banks may require these
documents for account opening later.

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PROCESS OF FILLING OF INCORPORATION FORM
The process of filling of incorporation form includes the following steps:

STEP-1

STEP-2

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STEP-3

STEP-4

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STEP-5

STEP-6

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STEP-7

STEP-8

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STEP-9

STEP-10

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STEP-11

STEP-12

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STEP-13

STEP-14

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STEP-15

STEP-16

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STEP-17

STEP-18

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STEP-19

STEP-20

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STEP-21

STEP-22

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STEP-23

STEP-24

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STEP-25

STEP-26

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STEP-27

STEP-28

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STEP-29

STEP-30

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STEP-31

STEP-32

In this way a new company can be submitted to Ministry of Corporate Affairs for the purpose
of Incorporation.

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COMPANY RESUBMISSION
Sometime when the company failed to follow up on the rules Company Act, 2013 the
company is rejected and is liable to resubmission after correction. Generally, resubmission is
done because of name compliance as two different companies cannot have same name.

Below is the screenshot of Resubmission/Rejection comment at MCA:

NOTE: The screenshot here and the previous form filling are of two different companies.
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KEY LEARNING

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During my internship at Salman & Associates, I acquired a wealth of knowledge and skills
that have significantly contributed to my personal and professional growth. The experience
exposed me to the dynamics of competitive world, with a particular focus on marketing and
customer service. Here, I will elaborate on the key learnings from this internship.

A. Legal Compliance
Legal compliance in company incorporation involves adhering to various laws and
regulations that govern the formation and operation of a business. This includes
registering the business name to ensure its uniqueness and submitting the Articles of
Incorporation, which outline the company's purpose and structure. Ongoing
compliance obligations include filing annual reports and maintaining corporate
governance practices, such as conducting regular board meetings. Overall, navigating
these legal requirements is essential for establishing a legitimate business and
minimizing potential legal risks. Companies should also protect their intellectual
property through trademarks and patents and comply with financial regulations,
including proper accounting and tax filings.

B. Regulatory Knowledge
Regulatory knowledge involves understanding and complying with the various laws,
rules, and guidelines established by government agencies and regulatory bodies that
govern business operations. This includes knowledge of corporate governance
regulations, which dictate how a company should be managed, as well as financial
regulations that ensure transparency and protect investors. Regulatory knowledge is
essential for any business to operate legally and ethically. It encompasses a broad
range of laws and regulations that impact various aspects of operations, from financial
practices to employee rights. By maintaining a strong understanding of these
regulations, businesses can mitigate risks, ensure compliance, and foster trust with
stakeholders and customers.

C. Documentation Skills
Documentation skills encompass the ability to create, maintain, and manage clear and
organized written records essential for effective communication and compliance in

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 business operations. This includes drafting various types of documents, such as
business reports, technical manuals, legal agreements, and proposals. Key aspects of
these skills involve using clear and concise language to convey information
effectively while ensuring that documents are well-structured for easy navigation.
Attention to detail is critical, as accuracy in data and grammar can prevent
misunderstandings and legal issues. Collaboration with team members to gather
insights and incorporate feedback enhances document quality, while adherence to
industry-specific compliance and documentation standards is vital for legality.
Proficiency in digital tools and software facilitates the efficient creation and
management of documents, including version control for tracking changes.
Additionally, effective archiving and retrieval practices ensure that important records
are accessible, while visual documentation, such as charts and infographics, can
simplify complex information. Overall, strong documentation skills contribute
significantly to organizational efficiency, professionalism, and the ability to
communicate ideas clearly.

D. Networking
Networking is the process of establishing and nurturing professional relationships that
can provide support, information, and opportunities across various contexts, including
business and career development. Its primary goal is to create meaningful connections
with industry peers, which can lead to mutual support, collaborations, and the sharing
of insights. Effective networking strategies involve identifying specific goals,
researching individuals or organizations before engaging, and preparing an engaging
elevator pitch to communicate your objectives clearly. Active listening and genuine
interest during conversations are crucial for building rapport. Maintaining these
relationships requires follow-up communication, regular engagement, and a
willingness to offer assistance to others. Leveraging technology, such as social media
platforms like LinkedIn and networking apps, can enhance your reach and facilitate
connections, especially in virtual settings. However, networking can pose challenges,
such as overcoming shyness and managing time effectively. Measuring the success of
networking efforts involves tracking connections and assessing the opportunities
gained. Ultimately, successful networking fosters a robust community of contacts that
enriches professional journeys and opens doors to new possibilities.

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E. Client Relations
Client relations encompass the strategies and practices that businesses employ to
build, maintain, and enhance their relationships with clients or customers, which are
crucial for ensuring satisfaction and loyalty. Effective client relations begin with
actively listening to clients to understand their needs and preferences, enabling
personalized service. Clear and consistent communication is essential, as timely
responses to inquiries demonstrate respect and foster trust. Building reliability and
integrity in dealings helps establish credibility, while proactive outreach and feedback
mechanisms keep clients engaged and valued. Managing expectations by setting
realistic goals and striving to exceed them can enhance the client experience. When
conflicts arise, prompt resolution and a willingness to learn from feedback can turn
negative experiences into positive outcomes.

F. Business Structures
Business structures refer to the legal and organizational frameworks that determine
how a business operates, its tax obligations, and the extent of owner liability. The
most common structures include sole proprietorships, where an individual owns and
manages the business; partnerships, which involve two or more individuals sharing
ownership and responsibilities; and limited liability companies (LLCs), which provide
limited liability protection to their owners while allowing for flexible management
and pass-through taxation. Each structure has its own advantages and disadvantages
affecting liability, taxation, management, and funding options, making it crucial for
entrepreneurs to carefully consider their goals and seek professional advice when
choosing the right business structure to establish a solid foundation for growth and
sustainability.

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CHALLENGES FACED
DURING INTERNSHIP

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While my internship at Salman & Associates was a valuable learning experience, it was also
accompanied by several challenges that tested my adaptability, problem-solving abilities, and
resilience. These challenges, though difficult, contributed significantly to my growth and
helped me develop critical skills that will benefit me in my professional career. Below is a
detailed discussion of the key challenges I faced during the internship and how I overcame
them.

A. Complex Regulations
Complex regulations in the incorporation of companies present significant challenges
for interns and professionals in financial consultancy. Each jurisdiction has its own set
of laws governing business formation, which can vary widely in terms of
documentation, filing procedures, and tax obligations. Understanding the implications
of different corporate structures—such as LLCs, corporations, or partnerships—
requires a deep grasp of legal and financial principles, as each comes with unique
requirements for governance and reporting. Additionally, companies often need
specific licenses or permits to operate legally, and staying informed about the
necessary licenses can be a complex task.

SOLUTION: Compliance with tax laws is crucial, as regulations dictate how

businesses report income and pay taxes, adding another layer of intricacy.

B. Communication Gaps
Communication gaps in a financial consultancy firm, particularly during the
incorporation of companies, can create significant challenges that impact
collaboration and client relationships. These gaps often arise from the use of technical
jargon, which may confuse clients or even new interns who are unfamiliar with
specialized terminology. Cultural differences can also play a role, as diverse
backgrounds lead to varying norms regarding directness and formality, resulting in
misunderstandings. Assumptions about others’ knowledge can further exacerbate
these issues, leading to overlooked details and mistakes.

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 SOLUTION: Addressing these gaps requires proactive measures such as
communication skills training and fostering an open environment for feedback,
ultimately enhancing collaboration and improving outcomes in the incorporation
process.

C. Networking Challenges
Networking challenges in a financial consultancy firm can significantly hinder an
intern's ability to build professional relationships and gain valuable insights. Many
interns feel intimidated when interacting with senior professionals due to perceived
hierarchies, which can lead to reluctance in initiating conversations or seeking
mentorship. Many interns also lack the skills and strategies needed for effective
networking, and their demanding schedules often leave little time for relationship-
building activities. There can be a perception of networking as self-serving, making
individuals hesitant to engage genuinely.

SOLUTION: Overcoming networking challenges requires a proactive approach that

includes building confidence, developing effective communication skills, and making
the most of available opportunities. Interns should seek mentorship, engage in
professional development programs, and use online platforms like LinkedIn to
connect with industry professionals.

D. Limited Experience
Limited experience is a common challenge faced by interns in financial consultancy
firms, particularly during tasks such as company incorporation. Interns often
encounter significant knowledge gaps regarding financial principles, legal regulations,
and industry-specific practices, which can lead to mistakes in preparing documents or
analysing data. While they may possess academic knowledge, applying theory to real-
world situations can be difficult, resulting in uncertainty about decision-making.
Additionally, a lack of exposure to essential processes like legal filings and
compliance checks creates a steep learning curve, often causing feelings of
overwhelm. This inexperience can lead interns to depend heavily on supervisors for
guidance, stifling their initiative and creativity, as they may hesitate to take
independent actions.

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SOLUTION: Interns should seek mentorship, engage actively in training
opportunities, and ask questions to build their knowledge and confidence. By
gradually gaining exposure to various processes and receiving constructive feedback,
they can enhance their skills and become more effective contributors to their teams.

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CONCLUSION

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My internship at Salman & Associates was a transformative and enriching experience that
allowed me to gain practical knowledge and skills in the banking industry, particularly in the
fields of incorporation of companies and customer service. Over the course of my internship,
I was able to bridge the gap between theoretical knowledge and real-world application, which
significantly broadened my understanding of how it operates in a competitive and customer-
focused environment.

A. Enhanced Professional Skills

One of the most significant outcomes of my internship was the development of
essential professional skills that will serve me throughout my career. I learned how to
engage with clients, understand their needs, and provide personalized solutions that
align with their financial goals. This experience improved my communication skills,
which are invaluable in every sector, where customer interaction is a daily task.

B. Deeper Understanding of Incorporation of Company

As an intern focused on the incorporation of companies, my understanding of the
process deepened significantly throughout my experience. my internship provided me
with a comprehensive understanding of the incorporation process, blending theoretical
knowledge with practical application. I now appreciate the complexities involved in
establishing a business and feel better equipped to assist clients in navigating these
challenges, ultimately contributing to their long-term success.

C. Challenges and Growth

As an intern focused on the incorporation of companies, I faced several challenges
that ultimately led to significant personal and professional growth. One of the primary
challenges was grappling with the complexity of the legal and regulatory framework
surrounding business formation. Another challenge was effectively communicating
with clients who often had varying levels of understanding about the incorporation
process. Many clients were anxious or uncertain about what to expect, and I had to
learn how to translate technical jargon into clear, accessible language. Ultimately,
these challenges transformed my internship experience into a powerful growth
opportunity.

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FUTURE SCOPE

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The internship at Salman & Associates has opened up numerous future opportunities and
avenues for growth, both for me as an individual and within the broader context of the
industry. The knowledge, skills, and experiences gained during my time as a intern will
significantly contribute to my future career path. Additionally, there are several promising
areas of growth and innovation that I can leverage moving forward.

A. Career Advancement in Financial Consultancy

The foundational knowledge I’ve acquired about corporate structures, regulatory
compliance, and the incorporation process positions me well for a career in financial
consultancy. As I move forward, I can aim for roles such as financial analyst or
business consultant, where my understanding of incorporation will be invaluable. This
experience also serves as a strong basis for pursuing leadership positions within
consultancy firms as I gain more expertise.

B. Specialization in Corporate Law

Given my exposure to the legal aspects of incorporation, I see a potential future in
corporate law. If I choose to pursue a law degree, I could specialize in business law or
compliance, helping clients navigate the legal landscape of starting and maintaining
their companies. This specialization would allow me to provide more comprehensive
support to entrepreneurs and businesses.

C. Networking and Professional Growth

The connections I’ve made during my internship have opened doors for future
collaborations and mentorship opportunities. Building relationships with industry
professionals can lead to job offers or partnerships, enhancing my career prospects
and providing guidance as I navigate the financial landscape.

D. Continual Learning and Adaptability

The dynamic nature of regulations surrounding business incorporation means that
continuous learning will be essential. I plan to stay updated on industry trends,
regulatory changes, and best practices through workshops and courses. This

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 commitment to ongoing education will help me remain competitive and relevant in
the field.

E. Global Business Perspectives

As businesses increasingly operate on a global scale, my understanding of different
jurisdictional requirements for incorporation can position me for roles in international
business consultancy. This could involve advising companies on how to incorporate in
various countries, expanding my expertise and professional reach.

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BIBLIOGRAPHY

P a g e 89 | 91
• Sharma, S. K. Companies Act, 2013: A Comprehensive Guide. New
Delhi: LexisNexis, 2020.
• Rao, P. S. Understanding the Companies Act, 2013. Mumbai: Taxmann
Publications, 2019.
• Ministry of Corporate Affairs, Government of India. The Companies Act,
2013. Accessed October 15, 2023. https://www.mca.gov.in
• Ministry of Corporate Affairs. “Incorporation of Company.” Accessed
October 15, 2023. https://www.mca.gov.in
• Securities and Exchange Board of India (SEBI). “Corporate Governance
Guidelines.” Accessed October 15, 2023. https://www.sebi.gov.in
• Investopedia. https://www.investopedia.com
• Registration Arena. https://registrationarena.com/
• Professor John Davis developed the concept of the broader family
enterprise
• Educba. https://www.educba.com/
• Legal Wiz. https://www.legalwiz.in/
• Chegg
• Shutterstock. https://www.shutterstock.com/

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THANKYOU

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