Private Limited Company Formation in India
A private limited company is defined as a legal entity or structure formed under the authority, consisting of one or more individuals or corporate entities that become shareholders. The entity's existence is considered distinct and separate from that of its members. A private limited company like a real person can enter into contracts, sue and be sued, pay taxes separately from its owners, and do the other things necessary to conduct business. We specialize in providing services in the field of Private / Public Limited Company Formation, Business Setup in India and Limited Liability Partnership (LLP) Services. Our Company formation services include registration of company, Company audits, ROC compliance and any other professional services required by any company in India. We have a team of highly qualified and experienced professionals, who can assist you in formatting a private limited company in India & across the globe. As per the New Companies Act, 2013, a company can either be registered as a Private Limited Company:
According to Section 2(68) a Private Company is one which:
- Has a minimum paid-up capital of one lakh rupees.
- Restricts the right to transfer its shares that enables the directors to maintain minimum limit of two members and the maximum limit of 200 members, shall serve the purpose.
- Limits the number of its members to 200. This number does not include the ex-employees of the company and employees of the company who are still members of the company.
- Prohibits the subscription of debentures or shares from general public.
- V. Prohibits any acceptance or invitation of deposits from any person except its members, directors or their relatives.
Procedure to Set Up a Private Limited Company
- Select a name for the company.
- Apply for Digital Signatures and Directors Identification Number.
- Draft Memorandum and Articles of Association.
- Filing of documents with the Registrar.
- Payment of Fees.
- Get Certificate of Incorporation.