Private Limited Company is the most famous and popular type of corporate legal entity in India. Registration of a private limited company has the governance by Companies Act, 2013 and the Companies Investment Rules, 2014. For registration of a private limited company, at least two shareholders and two directors are required. MCA has recently implemented major changes to the process and made it much easier for the company to get involved.
Documents for private limited company registration
- Apply for DIN for each director.
- Scanned passport size photographs of directors.
- Scanned copy of directors’ PAN card.
- Copy of latest bank statement, telephone or mobile bill
- Scanned copy of Director’s Aadhaar Card / Voter I-Card.
- Email ID of the directors.
- Phone numbers of the directors
- Digital signature template of directors.
It is important that any director should self-certify these documents.
Proof of registered office fee address
If rented:
The private limited company incorporation needs,
1) Copy of lease deed / lease agreement;
2) Copy of electricity bill;
3) A scanned copy of the No Objection Certificate (NOC) from the property owner;
4) Scanned copy of PAN card and landlord’s Aadhaar card.
If self-owned:
Also the pvt ltd incorporation needs
1) Copy of property papers;
2) Copy of any utility bill;
3) Copy of the No Objection Certificate (NOC);
4) Copy of sales deed.
These documents have the specification that they should not be more than 2 months old.
Online procedure for company registration
Online company registration is now simple and easy.
- Filing the forms with MCA.
- Obtain the DSC
- Obtain DIN
- Verify the name
- Approval of the name
- Documents required
- Issue of the certificate
Essential requirements for private limited company registration
There are certain essential requirements for private limited company incorporation in chennai.
- A minimum of 2 members is required and a maximum of 200 members
- Minimum paid up capital required is 1 lakh
- Minimum 2 directors required and maximum 15 directors
- DSC (Digital Signature Certificate) is required
- DIN (Director Identification Number) is required in favour of a Chief Director
Benefits of Private limited company registration
The benefits of pvt ltd incorporation are given below.
- The private limited company has the governance by the Companies Act, 2013
- At least two members are needed to form a pvt ltd company
- Private Limited has a separate legal entity from its members
- Private co is a permanent successor, which means that no change in members like death, bankruptcy, exit, relocation, etc. affects the existence of the company.
- In a private limited company, the member is responsible for its actions to the extent of its liability in the form of contributions to the capital.
- Private Ltd. In a company, capital is raised privately from shareholders and money cannot be borrowed or borrowed from the general public.
- A private limited company registration in t nagar has the ability to sue and can be sued.
- Pvt. Ltd. The company can also borrow funds from financial institutions in the form of loans.
This property can do in its own name.
Features of private limited company registration in chennai
The features of private limited company incorporation are given below.
Limited Liability Framework: In a private limited company, registration in bangalore the liability of each member or shareholder is limited. Therefore, even in the event of a loss under any circumstances, shareholders are liable to sell their own assets for payment. However, the personal and personal assets of shareholders are not at risk
Separate Legal Entity: This is a separate legal entity and continues to follow. This means that even if all members die, or the company goes bankrupt or insolvent, the company is in the eyes of the law. The life of the company shall be permanent, not affecting the lives of its shareholders or members unless dissolved by way of resolution.
Minimum paid up capital: There is no limitation on the minimum amount of paid up capital. However, at least Rs. 1 lakh is needed.
Differences between Private limited and public limited company
- A public limited company is a company listed on a recognized stock exchange and shares are traded publicly. Private limited companies, on the other hand, are neither listed on the stock exchange nor traded. It is privately held by its members.
- The minimum 7 members are needed to start a public company.
- In the case of a public company, it is mandatory to convene a statutory general meeting of members.
- The issue of the prospectus or statement is mandatory in the case of a public company. However, this is not the case with any private company.
- A certificate of initial post incorporation is required for a public company to start its work. In contrast, a private company can start its business only after its incorporation.
- There is a complete ban on the transfer of shares in a private limited company registration in tambaram. While the shareholders of a public company can have free transfer of the shares. Due to the limited number of people there and the limited number of restrictions, the scope of a pvt ltd company is limited. .The scope of a public company is vast. This is because company owners can also capitalize from the general public and have to comply with legal restrictions.
- There are regulatory burden on a public limited company. This is because shareholders or people who are potential shareholders have to make big information available to the public. A lot of money has to be invested to prepare reports and advertisements that match the rules provided by SEBI.
- A written resolution signed by the general meetings of a pvt ltd is received.
- While it is mandatory for public companies to appoint a company secretary, private companies can choose to do so as they wish.
- One type of company is chosen to be registered based on one’s need. However, the main reason for choosing a public company is that people should have the ability to sell shares. One has to pay the price by complying with a large number of restrictions and significant loss of privacy.To know more about private limited company registration in coimbatore, click here.
Comments
Post a Comment