Private limited company :
The majority of new companies registered in the india are companies limited by shares- Private limited company. This is the standard business structure in india for any business which has been formed with the intention of generating profit for the owners of the business with limited liability.
This structure is popular because it allows the sharing of profits amongst the shareholders and also limited financial liability. The shareholders are only responsible for company debts up to the value of the shares they hold in the company.
Private limited company registration:
Private Limited Company registration can be done in India with minimum number of 2 shareholders and maximum limit is 200 shareholders. And it requires minimum two directors, and with minimum share capital. A private limited company has the limited liability and separate legal entity. Private Limited Company is a legal business entity that is registered and governed by the laws and rules laid down in the companies act 2013.
Advantages of pvt ltd company :
Private Limited Company Registration is easy to set up.
The benefit of private limited companies is limited liability. Private limited companies are separate entity, and make the company responsible for all debts. If anything happens to the company, its members are not personally affected; members are only liable for unpaid shares. Limited liability is where a person's financial liability is limited to a fixed sum.
Private limited companies enjoy permanent succession because the company is its own separate legal entity. Directors act as employee of the company so therefore, do not effect the company if they leave. And also In the event of a death or resignation, the company’s AOA allocate the shares to legal heirs automatically.
Raising new capital/ Investment
Whereas sole proprietor and partnerships generally have to raise new funds from their own resources, companies can able to raise capital by issuing new shares. The new shares can be offered to existing shareholders or new investors, by Venture capitalists and private equity funds.
Separate Legal Entity
private limited company can hold and deal with any type of tangible & intangible property in its own name. private limited company can enter into agreements, contracts, on its name. On account of the independent existence, the creditors of the company can recover their money only from the company and the property of the company. They can't sue individual members
Documents For Private Limited Company Registration In India
Documents required for directors & shareholders
- Copy of pan card
- Copy of ID proof – (Voter's ID/Passport/Driver's License)
- Copy of address proof – (Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill)
- Passport Size Photograph – 4 nos
For The Registered Office
- Copy of Electricity bill.
- copy of Rental Agreement
- Copy of No-objection Certificate from property owner
- Copy of Sale Deed/Property Deed (in case of owned property)
PRIVATE LIMITED COMPANY REGISTRATION PROCESS
Normally Private Limited Company can be incorporate in 15 working days
|Obtaining DSC - First step is to get the digital signature certificate for the proposed directors of the company||2 days|
|Obtaining DIN - DIN - director identification number for the directors is a unique identification number for an director or a person intending to become the director of a company.||2 days|
|Company Name approval – After checking in the MCA & trademark portal, minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability,||3 days|
|Drafting of MOA & AOA - Once the name is approved by the ROC, we will draft the MOA, AOA & prepare the required affidavits and get the signature from the directors & shareholders.||3 days|
|Filing of incorporation forms – incorporation certificate||5 days|