India is a country where all type of sports is playing by people. Cricket, Hockey, Kabbadi, Chess, Tennis, Badminton are those sports for which India is famous in the world. There are many sports management companies are available in India who is handling these sports for national teams and domestic teams. If you have knowledge of sports and want to start your own sports management company then you can start this easily by incorporating your own private limited company. You also have to focus on the right sports. In India, badminton are those sports that are extremely popular.
A private limited company is a separate legal entity which can sue or can be sued and directors will not liable personally for other members’ negligence. A private limited company can be incorporated by minimum 2 or more person. This article talks about the procedure of starting a sports management company in India so you will get an idea about this and it will help you.
If you are thinking of starting a sports management business then you should conduct research so you will get an idea about many things like you will get an idea about the competition in the market, you will know about the prices of the services providing by competitor, and many other things so you should conduct a market research first. After conducting market research you can make a business model for your business. After making business models you can start working on it and then you can start your business but you have to register your business under-recognized authority. You can incorporate your private limited company under the Ministry of Corporate Affairs, the procedure of incorporation is given below –
Procedure of incorporation of Sports Management Company
- Procedure of incorporation of a private limited company is very easy and it can be done through offline or online procedure. Online procedure is very easy and simple. If you want to incorporate your private limited company through online procedure then you have to visit the official website of the Ministry of corporate affairs. All Private limited company registration and compliance for Private Limited Company can be done on the website of Ministry of corporate affairs. A private limited company can start by minimum 2 or more members and another requirement is you must have to contribute minimum paid-up capital of Rs. 1 lakh or an amount which may be prescribed from time to time and it is very important because it is compulsory.
- Digital signature certificate (DSC) is an important document for a private limited company and you have to first get this one for your proposed director, you must have to apply for DSC first because all signature will be signed digitally during the filing of incorporation form. For all future references, you have to use this and after getting a Digital Signature certificate you have to apply for Director’s identification number, you can apply for this on the website of Ministry of corporate affairs.
- After getting Digital signature certificate and Director Identification number, you have to reserve a name for your private limited company and you cannot use a name which is already using by existing private limited company. WEB-RUN services is available on the website of Ministry of Corporate affairs and you have to reserve a name of your private limited company through Web-Run services. After reserving a name for your private limited company, you have to file your registration form, and you must have to attach the all required documents along with the registration form. You have to submit the required documents like PAN card, Aadhar card, Address proof, rent agreement and other important document which is required. During filing of form you have to attach the Memorandum of Association and Article of Association. After filling the form, you can submit your form and after submission of form, the Ministry of corporate affairs will verify the documents after verification you will get your incorporation certificate.
- You have to keep in mind that after incorporation of your private limited company, you have to do all compliances which are required to be done under the Registrar of companies and all these compliances can be filed on the website of ministry of corporate affairs. You also have to keep in mind that you should file your company’s return in every prescribed period so you don’t have to face any legal problems.
As you can see in the above article that a private limited company can be incorporated easily and its registration can be done through an online mode. If you are thinking of starting your own private limited company then you have to follow the above-given procedure and you have to follow the rules and regulation of the Ministry of corporate affairs and you have to comply with the rules and regulation of registrar of companies.