How can you verify a business is legitimate?

By Lucille R. Church 2 years ago
How to verify legitimate businesses and merchants

The Ministry of Corporate Affairs (MCA) is a government website with all Indian corporations. It contains information on all sorts of corporations and limited liability partnerships (LLP). The portal allows users to look up information such as a company’s registration number, kind, date of incorporation, charges, directors, etc. On payment of relevant fees, a company’s balance sheets and other papers and yearly reports are made available on the Internet. KRT Inspect can help you to verify your business.

How to check the status of a Company’s Registration?

Step 1: Go to the MCA’s home page.

Step 2: Select ‘MCA Services’ from the drop-down menu. Select ‘View Company/LLP Master Data’ from the drop-down menu.

Step 3: Enter the CIN of the company. Enter the captcha code into the box. Select ‘Submit’ from the drop-down menu. You can also use the search icon next to the ‘Company/LLP Name’ box to look up a CIN.

  • CIN
  • Name of Company
  • ROC code
  • Company registration number
  • Company category
  • Class of company
  • Date of Incorporation
  • Authorized and paid-up capital
  • Number of members
  • Registered address and e-mail
  • Assets undercharge
  • Details of all the directors of the company

What exactly is CIN?

The Corporate Identification Number (CIN) is a 21-digit alpha-numeric code granted to businesses when they are registered with the Ministry of Corporate Affairs’ Registrar of Companies (ROCs) in various states across India (MCA). The CIN is a company’s unique identification number, and it must be entered in all documents that the company must file on the MCA portal.

What exactly is ROC?

The Registrar of Companies (ROC) is an office within the MCA responsible for company administration in India. The Registrar of Companies (ROC) is active in all central states and territories. The ROCs register businesses in all 50 states and the District of Columbia, keep a registry of records for such companies and make this information available to the general public for a charge.

What are assets that are subject to a charge?

A charge is a right or interest in a company’s property that a creditor or lender obtains to guarantee that the company will repay the debt. Borrowings by a firm are backed by securities, which are used to get loans from banks and financial organizations. The company’s assets on which a charge is created for the company’s borrowing are known as assets undercharge.

Every business that creates or modifies a charge on its property or assets must register the details of the charge with the ROC within 30 days of doing so. The assets in charge of the firm registered with the ROC are listed in the company registration search. A DIN, or Director Identification Number, is a one-of-a-kind identification number assigned to a company’s board of directors. 

A DIN can be obtained by completing the SPICe form at the company’s incorporation. A Digital Signature Certificate is referred to as a DSC. It must be obtained from a government-approved certifying organization. All forms require a valid DSC now that the registration procedure is online. The cost of acquiring a DSC varies greatly depending on the certifying agency it is acquired.