Private Limited Company is one of the top leading corporate legal entities in India. Registration of the Private Limited Company is governed by the Ministry of Corporate Affairs, Companies Act 2013 and the Companies Incorporation Rules 2014. A minimum of two shareholders and two directors are required to register a Private Limited Company. Commonly, A person can be both a shareholder and a director, while a corporate legal entity can only be a shareholder.
Features of Private Limited Company
There are many of the features of a Private Limited Company are like:
- Members– To begin an organization, a base number of 2 Individuals are required and the greatest number of 200 Individuals according to the arrangements of the Companies Act, 2013.
- Constrained Liability– The risk of every part or investors is restricted. It implies that if an organization faces misfortune under any conditions then its investors are at risk to offer their benefits for installment. The Individual, singular resources of the Investors are not in danger.
- Never-ending succession– The organization continues existing according to the law even on account of Death, Indebtedness, and Liquidation of any of its Individuals. This prompts the unending progression of the organization. The life of the organization continues existing until the end of time.
- List of members– A privately owned business has a benefit as compared to general population organization that they don’t need to keep a file of its employees through the general population organization required to keep a list of its employees.
- 5. Various Directors– When it comes to chiefs a privately-owned business needs just 2 executives. With the presence of 2 chiefs, a privately-owned business can come into tasks.
- Paid-up capital– It must have a base paid-up capital of Rs 1 lakh or such higher sum which might be recommended every once in a while.
- Prospectus– Prospectus is a definite proclamation of the organization issues which is issued by an organization for its open. In any case, on account of the private constrained organization, there is no such need to issue an outline because in this open isn’t welcome to buy-in for the offers of the organization.
- Least subscription– It is the sum which gets by the organization. It’s 90% of the offers issued inside a specific time frame. If the organization can’t get 90% of the sum then they can’t initiate assist business. If there should be an occurrence of private restricted organization which can be apportioned to people in general without getting the base membership.
- Name– It is obligatory for all the privately-owned businesses to utilize the word private restricted after its name.
Documents Required for Company Registration
These are the required documents for the registration of the company:
- Copy of the PAN card of the Directors.
- Copy of Aadhar Card/ Voter Identity Card of Directors.
- Passport Size Phots of the Directors.
- Copy of Rent Agreement (If they have any kind of official rent property).
- Electricity and Water Bill of the official place.
- If the owners have their property so, they have to give their property papers.
- Landlord NOC (If they have the rented property).
Process of Company Registration in 5 Easy Steps
There are the following 5 easy steps of company registration like;
- Application of DSC & DPIN.
- Name Approval.
- MOA & AOA Submission.
- Get Incorporation.
- Apply For PAN, TAN and Bank Account
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Tradenfill can help you register a Private Limited Company, One Person Company, Nidhi Company, Producer Company and many more. This company registration or formation process will take 10-15 working days. If you have any queries regarding this registration then you can consult with our advisors either by mail or on call. Mail at: email@example.com and call at +91-9654 533433.