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Private Limited Company

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All about Private Limited Company

Private limited company is another major form of business done my most of the people. Many corporate customers, Vendors and Govt. Agencies prefer to deal with Private Limited Company instead of sole proprietorship or partnerships. Private Limited company is incorporated under the Companies Act of 2013, and governed by the Ministry of Corporate Affairs (MCA). To form a Private Limited Company there should be minimum of Two Directors and 2 Shareholders, where shareholder and director can be same person. There is a minimum requirement of two members and a maximum of Two Hundred members.

    Apply for Private Limited Company

    Apply for Private Limited Company






    Premium Plan


    Corporate Genie Plans

    Start Up Plan

    Rs 4,499
    • Registeration of Private Limited Company at Ministry of Corporate Affairs
    • Advice, Drafting & Filing by Experts
    • MCA processing and COI
    • Company PAN & TAN
    • MOA
    • AOA
    • Allotment of 2 DINs
    • ESI and PF registration

    Basic Plan

    Rs 8,499
    • Registeration of Private Limited Company at Ministry of Corporate Affairs
    • Advice, Drafting & Filing by Experts
    • MCA processing and COI
    • Company PAN & TAN
    • MOA
    • AOA
    • Allotment of Two DINs
    • ESI and PF registration
    • GST registration
    • First Board Resolution Documentation
    • Consent Letter drafting and appointment of the Auditor

    Smart Plan

    Rs 15,499
    • Registeration of Private Limited Company at Ministry of Corporate Affairs
    • Advice, Drafting & Filing by Experts
    • MCA processing and COI
    • MOA
    • AOA
    • Allotment of Two DINs
    • ESI and PF registration
    • Current Account Opening in your nearest branch
    • MCA processing
    • INC-20A Commencement of Business
    • GST Registration
    • First Board Resolution Documentation
    • Consent Letter drafting
    • Appointment of the Auditor
    • MCA Annual Return Filing and DIR-3 Director KYC

    Mega Plan

    Rs 27,499
    • Registeration of Private Limited Company at Ministry of Corporate Affairs
    • Advice, Drafting & Filing by Experts
    • MCA processing and COI
    • Company PAN & TAN
    • MOA
    • AOA
    • Allotment of Two DINs
    • ESI and PF registration
    • Current Account Opening in your nearest branch
    • INC-20A Commencement of Business
    • MCA processing
    • GST registration
    • First Board Resolution Documentation
    • Consent Letter drafting
    • Appointment of the Auditor
    • Income Tax Return filing
    • Preparation of Financial Statements
    • Preparation of Financial Statements
    • MCA Annual Return Filing and DIR-3 Director KYC
    • GST Return filing for Twelve months

    There are certain requirement to be fulfilled to form a Private Limited Company

    1. The number of members must be between 2-200.
    2. There must be at least two directors and two shareholders
    3. Each director must have a Directors Identification Number (DIN)
    4. PAN card copy of directors/shareholders. Passport copy for NRI subscribers.

    To form a private limited company there should be certain amount to be introduced by its shareholder and that is known as share capital. This can be of two types-

    a) Authorized share capital – Authorized share capital is the number of stock units (shares) that a company can issue as stated in its memorandum of association or its articles of incorporation.
    b) Paid up share capital- Paid-up capital is the amount of money a company has received from shareholders in exchange for shares of stock.

    There are certain set of rules and regulation which any private company need to be adhere. These are called MOA and AOA.

    Memorandum of Association (MOA) and Articles of Association (AOA) are the master documents of the private limited company determining the guidelines, mutual rights and duties between directors and shareholders. MOA comprises of 6 clauses –

    • Name clause – under this the name of the company is specified. It should not be identical to any existing company’s name.
    • Registered Office clause – This clause helps to determine the state jurisdiction of Registrar of Companies.
    • Object clause – In this clauses, one defines the object of the company. The object comprises of all the activities or work to be carried in the organization.
    • Liability clause – In this clause, the liability of the shareholders is defined. In case of the company limited by shared, the liability of the members or the shareholders is restricted by the amount each member has agreed to contribute.
    • Capital clause – In this clauses defines the maximum number of share the company can issue.

    AOA (articles of association) These are the rules and regulations for the management. It provides the internal guidelines to be followed in the organization. It consist of the rules regarding the transfer of shares, an audit of the company, voting rights of the shareholders, the appointment of directors, share capital etc.

    Documents required to form a Private limited company

    • Copy of PAN of Directors and Shareholders.
    • Copy of ID Proof of Directors and Shareholders. (Voter ID, Driving License, Passport)
    • Copy of Address Proof of Directors and Shareholders (Bank Statement/ Electricity bill/ Mobile bill/ Telephone Bill)
    • Passport size Photographs of Directors and Shareholders.
    • Digital Signature Certificate of all the Directors.
    • DIN of all the Directors
    • Property Ownership Documents of Registered office premises:
      • If property is owned: Electricity bill + Ownership Documents + NOC (if required)
      • If property is rented: Electricity bill + Rent Agreement + NOC
    • Apart from all these documents, Some other required documents will be prepared by your Corporate Professional i.e. CA/CS for submission to ROC.
    Corporate Genie

    Process to obtain registration

    Fill the required details in the form.
    Make payment.
    Expert will ask for necessary documents.
    We will apply for DSC & the DIN Number for Director.
    Draft will be prepared for necessary documents like Consent, MOA & AOA.
    All the documents will be submitted to ROC.
    As when ROC approves application for Certificate of Business Commencement will be processed.

    FAQ

    A private limited company is any type of business entity in "private" ownership used in many jurisdictions, in contrast to a publicly listed company, with some differences from country to country. A private limited Company restricts the number of members to 200.
    Yes, The changed address can be situated within the same state or in a different state from the state in which it was originally registered.
    Yes, a small business can get its business registered under private limited company registration in India.
    No, professional or educational qualification is required to become a shareholder in the private limited company.
    Person should be of Sound Mind, Attained the age of majority and Citizen or resident of India.
    Any individual intends to become the director of the company must apply to the Director Identification Number. The DIN usually takes 3-4 days to get approved. Once you get the DIN, the same can be used for the lifetime.
    The Registered Office does not mean you have to own it, can be rented though.

    Comparison

    Private Limited CompanyOne Person CompanyLimited Liability PartnershipPartnership Firm Proprietorship Firm
    Act Companies Act, 2013 Companies Act, 2013 Limited Liability Partnership Act, 2008 Indian Partnership Act,1932 No specified Act
    Registration Requirement Mandatory Mandatory Mandatory Optional No
    Number of members 2 – 200 Only 1 2 – Unlimited 2 – 50 Only 1
    Number of Director/Partner 2 – 15 Only 1 2 – Unlimited 2 – Unlimited Only 1 Statutory Compliance High Moderate Moderate Less Less
    Separate Legal Entity Yes Yes Yes No No
    Liability Protection Limited Limited Limited Unlimited Unlimited
    Statutory Audit Mandatory Mandatory Dependent Not mandatory Not mandatory
    Ownership Transfer ability Yes No Yes No No
    Uninterrupted Existence Act Act Act Act Act
    Foreign Participation Allowed Not Allowed Allowed Not Allowed Not Allowed
    Tax Rates Moderate Moderate High High Low
    Number of Director/Partner 2 – 15 Only 1 2 – Unlimited 2 – Unlimited Only 1 Statutory Compliance High Moderate Moderate Less Less