Private Limited Company

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Private Limited Company

A Private Limited Company is the most popular business structure in the Indian corporate world. It is the first choice of every new company entering the business sphere. As per the Companies Act 2013, a Private Limited Company must have a minimum of 2 members with the upper limit being 200. The limited liability legal structure makes the Private Limited Structure widely popular. This means that if there is any default on the company’s name, then the creditors can only claim ownership over the company’s assets and not on the personal assets of the members. The private limited company structure is mostly preferred by start-ups and other growing companies as it facilitates easy inflow of outside funding, limited liabilities for shareholders and higher independence and flexibility in hiring workforce.

The Advantages of a Private Limited Company

Ease in Transferability

There is considerable ease in transferability of the company, either partially or fully to any other legal entity in India. This is mostly because a private company has its representation in shares.

Limited Liability

The directors don't have to be liable for the financial loss incurred to the creditors on a personal level. Only the company as a whole is liable for the financial and legal proceedings.

Operational Flexibility

Registering your company as a private limited company gives the board of directors more control over the operations and streamlines all the decisions being made by them in a fast and efficient manner.

Funding

A Private limited company has the ability to raise funds from entities if they are interested in becoming a shareholder of the company. Entrepreneurs have the option to raise fund from private equity firms, hedge funds, angel investors or even venture capital funds.

More Stability

Companies registered as Private Limited need to have a board of directors with at least two members on minimum. This decentralises the decision making power and thus ensures that the company has more stability.

our professional service Includes:

For a Private Limited Company Registration process, we offer the following

  • DIN FOR TWO DIRECTORS
  • DSC FOR TWO DIRECTORS
  • NAME SEARCH & APPROVAL
  • DRAFTING & FILING OF AOA & MOA
  • REGISTRATION FEES FOR ROC
  • STAMP DUTY FEES
  • CERTIFICATE OF INCORPORATION
  • PAN & TAN OF THE COMPANY

“Liberty is the right to do what the law permits.”

Montesquieu

Private Limited Company Registration Process:

All the directors involved with the company need to apply for a Digital Signature (DSC) and a DPIN.
The next step is getting the company’s name approved by the MCA. Two different names have to be submitted for consideration out of which one will be approved by the MCA. As a rule, the names submitted by you should not be used by any other company and they must suggest the business your company is into.
After the approval for the company name, you need to draft the MOA (short for Memorandum of Association) and AOA (Articles of Associate) and then file both the documents with the MCA.
After filing the MOA and AOA documents with the MCA, your company will be registered as a Private Limited Company within 10-15 days. You’ll be provided with an Incorporation Certificate which will act as proof of the creation and registration of your company. The CIN number of your company will also be mentioned in this certificate.
The final step that remains for completing your company registration is applying for PAN and TAN. Both the PAN and TAN are ready and received within 7 working days from the request submission. After getting the PAN and TAN, these documents may be submitted along with the Incorporation Certificate, MOA and AOA to open a company bank account.
  • Photograph of the directors (passport size)
  • Copy of PAN Card of directors
  • Copy of Aadhaar Card/ Voter Identity Card/ Driving License/ Passport of directors
  • Copy of electricity bill/ water bill/telephone bill of business place (latest by 2 months)
  • Copy of bank statement/ electricity bill of directors for residence proof (latest by 2 months)
  • Copy of Notarized Rent agreement and NOC from the owner(If rented property)
  • Copy of Sale Deed/Property papers (If owned property)
  • Proof of Nationality for NRI director (Passport)

Documents required for the Registration of a Private Limited Company

Information Required for the Registration of a Private Limited Company

  • Proposed Name of the Company
  • Proposed Capital of the Company
  • Amount of capital to be held as share and the holding ratio.
  • Educational Qualification of all the people involved
  • State in which the Company is to be Registered
  • Contact details and email id of the directors
  • Landline Number, if any
  • Place of Birth of all the directors and shareholders
  • Proposed business of the company in brief
  • No. of LLPs or Companies in which he/she is a partner or director

Minimum Requirements for the Registration of a Private Limited Company

01

Minimum Shareholders should be at least TWO

02

Minimum Directors should be TWO

03

DIN for all the Directors

FAQs

In India, it may be considered as the popular-most legal structure in terms of companies and is governed by the Ministry of Corporate Affairs. Our company provides this service.
The person should fulfil the following criteria:
  1. Citizen of India
  2. Sound Mind
  3. Major by Age
Our experts can help you get registered as a Private Limited Company. It involves filling up a small questionnaire and takes about 10-15 days.
Yes, an NRI or Foreign National can become a Director for a Private Limited Company. However, at least one of the two Directors needs to be a Resident of India.
There is no hidden payment. Our invoice will show the charge inclusive of all factors.

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Terminological Glossary

DSC stands for digital signature. It is a form of an online signature that is used during the online registration filing process.
It is short for the director’s PIN which is a sequence of numbers assigned to the director by the MCA.
It stands for Corporate Identity Number which is a 21-digit code given to companies registered in India.
Brief for Memorandum of Association, it contains all the clauses of the company for establishing its identity, working and target.  The various clauses to be included in MoA as per the Companies Act 2013 are:
  1. Name Clause
  2. Situation Clause
  3. Object Clause
  4. Liability Clause
  5. Object Clause
  6. Subscription Clause
It stands for Articles of Association. This document defines the internal working, rights, duties and management procedure of the company. Its content includes the following details:
  1. Company Shares
  2. Rights and Duties of Directors
  3. Removal of Directors
  4. Meeting Details
  5. Company Dissolution Process