What is Private limited company?

Private Limited Company registration is the most popular legal structure option for businesses in India. A private limited company can have a minimum of two members and a maximum of fifty members. The directors of a private limited company have limited liability to creditors. In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors. If you want to start a company in India then make sure your company is registered as Company Registration should be your first priority. It is very important to register your company as a registered company have multiple advantages from easy to register to easy to dissolve.
Start-ups and growing companies prefer private limited company as it allows outside funding to be raised easily, limits the liabilities of its shareholders and enables them to offer employee stock options to pull in top talent.
Private Limited Company Registration can be done through Balaji IP Prectice (company registration agent) in Delhi NCR, Mumbai, Bengaluru, Chennai and other Indian cities. If you want to register your own company then you can totally rely legalraasta (company registration services provider). We will help you with company formation procedure and new company formations procedure. All the company registration information will be given to you by our experts.

Procedure For Company Registration

  • Complete our Simple Form

    You need to fill our simple company registration form and submit documents for formation of a company.

  • Obtain DSC and DPIN from us

    After submitting your documents we will provide you with DSC and DPIN.

  • Verification and Name Approval

    Details provided by you will be verified and then we shall apply for name approval.

  • Document Submission

    We create your Trademark application in 3 days and get your TM number

  • Your work is completed

    Once your company is incorporated, we shall send you all the documents and DSCs.

Documents Required For Company Registration

  • Copy of PAN Card of directors
  • Passport size photograph of directors
  • Copy of Aadhaar Card/ Voter identity card of directors
  • Copy of Rent agreement (If rented property)
  • Electricity/ Water bill (Business Place)
  • Copy of Property papers (If owned property)
  • Landlord NOC (Format will be provided)

Advantages Of Private Limited Company?

  • There are multiple reasons to choose private limited company :
  • Preferred by banks, VCs & investors.
  • Easy to allocate and redistribute shares to investors or other directors.
  • Separate legal entity which limits your liability.
  • Offers the flexibility of a partnership firm and the advantages of a Public Ltd Company.
  • Easy to register, manage & run.
  • Easy to dissolve or wind-up.

5 Steps For Company Registration

1. Application of DSC & DPIN :

First of all, the partners have to apply for Digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.

2. Name approval :

You need to provide 3 different options for your company name to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.

3. MOA & AOA submission :

Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement and

4. Get incorporation certificate :

It typically takes 15- 25 days to form a Private limited company and get the incorporation certificate. Incorporation certification is a proof that company has been created. It also includes your CIN number.

5. Apply for PAN, TAN and Bank account :

Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.

Minimum Requirements For Company Registration

  • Minimum 2 Shareholders
  • Minimum 2 Directors are required
  • Minimum 1 Lac Share Capital
  • DPIN for all the Directors
  • Atleast one Designated partner should be an Indian Resident

Concerns Related To Private Limited Company

1: Pvt. Ltd company requires few more ROC compliance translating into an additional cost of 5000 to 10000/annum.

2: Minimum capital required is Rs.100,000

3: Private limited company can have a maximum of 200 members.

Still, entrepreneurs prefer private limited for the ease in share transfer and potential for future growth.

Factors To Consider In Company Name Selection

The name of your company is very important. It is the first impression to your buyers, suppliers and stakeholders. It should, therefore, be relevant, suggestive and attractive. There are various factors that you should keep in mind while naming for your company.

Short & Simple

The name should be concise and not be too long. People should be able to pronounce it easily and they should be able to remember your company’s name the first time they hear or read it.

Meaningful

The name of your company should be related to your business. It should fit the company’s branding. For example, Infosys refers to information systems or IT technologies.

Unique

Name of your company should not be same or identical to an existing company or trademark. You can go to search.legalraasta.com to check if your company name is identical to others. You should ideally avoid plural version e.g., “Flipkart’s” or changing just letter Case, spacing or punctuation marks in an existing company name.

Suffix

The name of your company should end with the suffix “Private Ltd” in a case of a Private limited company and “LLP” is a case of a limited liability partnership.

Should not be illegal / offensive

The name of your company should not be against law. It should not be abusive or against the customs and beliefs of any religion.

Frequently Asked Questions

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