Thursday, January 24, 2008

How to Start a company in India ?

When we had our first draft of business plan, we thought it's time to go ahead and register the company. When I visited MCA website, was relieved to see that they have option for doing many process online, which is a rare commodity in websites. After some googling we started and we were able to get our DIN and the process went smooth.
It was time to go for the next step, but we stopped !!!! Reason the process was simply pathetic. The website seem to get worse day by day. We had know way to proceed, until we came across
this DoingBusiness . Just to remind you this data is the ideal case. There's no way you can do it within 89 days.
Here's what we decided ; We went to an auditor. It was tough time to choose an auditor in Mysore, many didn't wanted to take and some said we do only "technology". Finally we got one who understood our idea and he agreed. And latter we cam know why other audiotrs rejected take this up.He said it would cost around 30K INR !!!!!! WOW there goes major chunk of our budget :(.

Now came another tough part, choosing the name, we had to choose four names.... that was OK, but the company name should also tell what your company does. No one knows what a GREEN business suffix should contain. Auditor suggested "SapGreen Marketing and Renewables Pvt. Ltd".

They rejected it saying the name was "too general" and no other information was given !!!! Yes the weasels rejected it saying the same thing three times. The worst part was they took their own time to reject our applications. They things much slower than a koala bear walks, what are they trying to preserve their energy for ? counting bribes I guess. It was so obvivous, they needed money and it was even more obvious we are not ready to give them. They are playing with our dreams. They will do anything for money, they even register companies like "Mintreee Tech" (note the extra 'e', check here) but not "SapGreen Renewables" !!!. (SapGreen here mean yele-hasiru in Kannada which has nothing to with SAP Technologoies). We are now trying with "EnLEn Marketing and Renewables Pvt Ltd". It has already been five months since we started this process :(

They are just killing innvoation. Hats off to all the Indian Entrepreneurs who do end up being successful after such chaotic start. It's a good thing I guess, because if you solve this problem you will have the mental strength to face any challenges :-).

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