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A private limited company is a separate entity that is held privately and provides limited liability. It does not freely transfer its shares to the public like other public companies and all business profits and liabilities belong to the company itself and stakeholders may not be responsible for debts incurred by the company.
Private companies in India are regulated by the Companies Act, 2013 which acts in regulating the total number of members of the company, number of directors of the company, rights of shareholders of the company and lists down methods of raising capital
Number of members should be between 2-200 At least 2 directors and 2 shareholders should have their presence DIN must be available with each Director Applicant should possess Company’s incorporation certificate Minimum paid up capital of 1 lakh
Once a Pvt Ltd Company is registered, it shall be valid for lifetime. However, Company must have fulfilled the legal compliances such as filing of annual return and other mandatory forms.
A private limited company is a separate entity that is held privately and provides limited liability.
Private companies in India are regulated by the Companies Act, 2013
Number of members should be between 2-200 At least 2 directors and 2 shareholders
Once a Private Limited Company is registered, it shall be valid for lifetime.
Both PAN and Aadhaar Card of all Indian Shareholders and Directors
Either Voter ID, Passport, or Driving License of the Shareholders and Directors.
Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors
Latest passport size photographs of all the Shareholders and Directors
Either of the latest Utility Bill (Electricity, Telephone, Gas, Water) or Property Tax Bill of the registered office address. Rent agreement and NOC from the owner in case of rented property
Upon registering as a PLC, business owners can manage their capital and contribute to the company’s resources. Safeguarding the organisation’s assets, managing losses and preventing debts are some of the important activities conducted by Private Limited companies.
A PLC has a stream of employees who supervise the loans issued by the banks. By acquiring ownership rights and adhering to liability protection measures, organisations can tip the scale in their favour. Venture capitalists, private equity firms and HNIs tend to invest in PLCs to earn a higher return on investment.
The shareholders and directors are allowed to make management decisions. The members have an equal say and none is devoid of the ownership rights that guarantees them a special position.
The organisation can exist solely and sign contracts, blacklist third-party sources or use the assets as per its will.
Experts at Filings First will review your documents and information. Experts will help you in applying for the digital signature certificate and start the step-by-step process of Incorporation
Before submitting an application for company name reservation, Filings First shall first check the name's availability on the MCA and IP India portals and make the name application accordingly. We shall draft the MoA, AoA and other related documents in the meanwhile, while we are waiting for the name approval from the Ministry.
Upon receipt of name application, we shall file the incorporation application for approval. We shall also submit applications for PAN, TAN, and DIN allocation.
Once the MCA approves our application, we shall obtain the Certificate of Incorporation.
The company officials have to provide their responses on several questions, select a suitable package, fill the survey, provide the necessary documents and facilitate online payment to initiate the process.
Upon seeking the advice of a relationship manager, a panel of experts drafts and files the documents.
It takes 10 to 12 days for the process to get approved and managers receive an assessment call wherein the PLC experts walk them through the process.
According to the MCA Guidelines on Company, a name that falls in one of the following criteria will frequently not be made available in the following situations:
It is at conflict with the organization's primary objectives, which are outlined in its memorandum of association. This does not imply that all names have to describe the things they are named after. However, if the name suggests a company in any way, it should be consistent with those objectives.
Unless the name clearly alludes to one or more particular financial operations, such as investments, loans, etc., the company's principal activity is finance.
It contains any word that offends a certain demographic.
The suggested name is an exact translation from English to Hindi of the name of an existing business, particularly one with a good reputation.
The suggested name is literally similar to the name of the current business.
The name is merely generic, such as Cotton Textile Mills Ltd. or Silk Manufacturing Ltd., rather than specific, such as Calcutta Cotton Textiles Mills Ltd., but it contains phrases like "co-operative" or words that equate to this phrase in the regional languages of the country.
You can check the status of the company registration by following the instructions below:
Step 1: Go to the MCA website.
Step 2: Go to the ‘MCA Services tab. Then ‘View Company/LLP Master Data.
Step 3: Enter the company’s CIN. Enter the captcha code. Click on ‘Submit’.
Starting on February 23, 2020, all new businesses must use the web tool SPICe+ to submit an application for name and incorporation reservation. Company names may be reserved in SPICe+ Part A. Parts A and B should be filled out with the necessary information if the applicant wants to submit a single application for a name, incorporation, and other integrated services. To change a name, the web service RUN (Reserve Unique Name) must be used.
According to Rule 27 of the Companies (Management & Administration) Regulations 2014, A Listed Company or a Company with More Than 1000 Shareholders Should Maintain Records in Electronic Format. However, all other Companies must maintain statutory records throughout their life in the form of registers, minutes, etc.
After incorporation, a company's office address may be changed at any time.
No. After the company is registered, it must open a company bank account. Capital can then be deposited into the account at any day within two months of incorporation.
Companies are registered with the ROC, a government office. With the exception of Maharashtra and Tamil Nadu, all States have a single ROC office. Companies in Maharashtra are registered with the ROCs in Mumbai & Pune. Companies in Tamilnadu are incorporated at the ROCs in Chennai and Coimbatore. There is just one ROC office in each of the other States, including Delhi, Bangalore, Hyderabad, and so on.
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