What Is A Private Limited Company?
In India, the most common type of “legal structure” for all firms is a private limited company.
They can have as little as two members and as many as fifty.
There directors have limited liability to its creditors, and banks and creditors are only allowed to sell the company’s assets (when there is a scenario of default).
Creditors do not have the authority to sell directors’ personal assets. If you’re starting a business in India, make sure your firm is registered.
“Company Registration” is the first and most crucial step in starting a new business.
The procedure of establishing a private limited company is crucial since it shows the legitimacy of your planned business structure. However, you must ensure that you have all of the necessary company registration documents.
In the long term, registration will provide you with several benefits, including “quick and clean registration to easy dissolution.”
The term “private limited company” is preferred by “start-ups and growing firms.”
For “business registration in India,” contact Us
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The most common approach is to form a corporation, which is a simple process with numerous tax and regulatory benefits over alternative business structures. An entity called the MCA regulates the entire process of forming a corporation in India (Ministry of Corporate Affairs). Certain formalities must be completed as part of the incorporation and registration process.
Our team is at your service and will assist you with obtaining the registration in as little as 7 to 12 days. All you have to do now is plan your business, and our team of specialists will take care of the paperwork and procedures.
Documents Required :
1) PAN Card of each Director
2) ID Proof of each Director (anyone)
Aadhaar Card
Election Card
Driving License
Passport Copy
3) Residence Address Proof of each Director (anyone)
Bank Statement (up to two months old)
Bank Passbook with last two months entries
Latest Electricity Bill
Mobile Bill (postpaid)
Landline Bill (postpaid)
4) 1 Colour Photograph of each Director.
5) Place of Business Proof in India (anyone)
Electricity Bill
Mobile Bill
Landline Bill
Gas Bill
6) Affidavit from each Director on Rs. 100/- stamp papers
How To Register A Private Limited Company ?
1)Name approval
You must offer MCA with three different options for your company name, from which one will be chosen. The names submitted should ideally be one-of-a-kind and reflective of the company’s business. MCA
2)Application of DSC & DPIN
First and foremost, the partners must apply for a digital signature and a DPIN number. The term “digital signature” refers to an online signature used for filing, while “DPIN” refers to the MCA’s Directors PIN number. This step can be bypassed if the directors already have DSC and DPIN.
3)MOA & AOA submission
After the name has been authorized, the Memorandum of Association and Articles of Association, which include the company’s rules and regulations that govern its operation, must be created. The subscription statement, as well as the MOA and AOA, are filed with the MCA for validation and approval.
4)Get incorporation certificate
Forming a private limited business and receiving an incorporation certificate usually takes 15 to 25 days. The certificate of incorporation is confirmation that a company has been established. Your CIN number is also included.
5)Apply for PAN, TAN, and Bank account
After that, you must apply for a PAN and a TAN. In 7 working days, you will obtain your PAN and TAN. After that, you can go to a bank and present the Incorporation certificate, MOA, AOA, and PAN to open a bank account.
Our Role :
DSC (Digital Signature) of two Directors
DIN (Directors Identification Number) of two directors
Company Name Application
Drafting of AOA (Articles of Association) & MOA (Memorandum of Association)
Reply to queries raised by the ROC department
Government Fees
Payment of Stamp Duty and Registration Fees
Our Professional Fees
Certificate of Incorporation
PAN Application of Company
TAN Application of Company (TAN – Tax Deduction Account Number)
Support to Open a Bank Account
ISO certified Team of Agarlaws Associates Pvt Ltd
Advantages
1)Easy Fund Raising
The Pvt. Ltd. company registration process is stringent enough to establish credibility for this structure, among others, making fundraising and borrowing from external sources easier. The organization itself offers a variety of funding options, including private equity, ESOPs, and more.
2)Separate Legal Existence
When a company is registered in India, it becomes a legal entity in the eyes of the law. This establishes a wall between itself and its owners and management. The corporation can open a bank account in its own name to hold assets and enter into contracts with third parties. In the event of any defaults, this also gives you the right to sue third parties.
3)Owner’s Limited Liability
The obligation or debts of the company do not establish a charge against the owner’s personal assets. Their liability is restricted to the amount of capital they have subscribed to and have yet to pay.
4)Management and Ownership Separation
Separate ownership and management allow the company and management to concentrate on their potential projects—the shareholders delegate responsibility for the company’s operation and direction without giving up control through voting.
Requirements:
1)During the entire process, a minimum of two shareholders must be present.
2)There must be at least two directors, as this is a legal requirement.
3)The minimum amount of share capital is set at one lakh.
4)DPIN for all the directors.
5)An Indian resident shall be at least one of the authorized partners.