A Private Limited Company is a business entity that is privately owned. A member's liability in a private limited company is limited to the number of shares held by that member.
The Companies Act of 2013 governs a private limited company. Private limited (PVT. LTD.) is required to be added to the name of a private limited company in India. When a private limited company faces financial difficulties, its shareholders are not required to sell their individual assets, implying that they have limited liability.
A Private Limited Company registration in India can be done with minimum two shareholders (also known as subscribers). The maximum number of shareholders, however, cannot exceed 200. However, because of a 2013 amendment to the Companies Act, there is no longer a minimum capital requirement.
After being registered as a Private Limited Company, the registered must comply with several legal compliances as specified by the Companies Act, 2013.
Limited Liability: A private limited company's shareholders have limited liability.
This means that as a shareholder, you will only be responsible for the company's liabilities to the extent of your contribution.
Because the shareholders have no personal liability, they are not required to pay the company's liability out of their own funds.
Easy raising of funds: Even though registering a PLC comes with compliance requirements, it is preferred by entrepreneurs as it helps them raise funds through equity, expand and at the same time limits the liability.
Trustworthiness: The Companies Act of 2013 requires companies in India to register with the Registrar of Companies (ROC). The Ministry of Corporate Affairs (MCA) portal allows anyone to check the company's details. During the formation of the firm, all the directors' information is also submitted. As a result, a Public Limited Company structure is more trustworthy.
Perpetual Existence: A company has 'perpetual succession,' which means that it will continue to exist until it is lawfully dissolved. Because a company is a separate legal person, it is unaffected by the death or termination of any of its members, and it continues to exist regardless of membership changes.
Verification of document
Application for Name Approval (online RUN WEB Application on MCA Portal)
Obtaining DSC (Class-2) and DIN as required above. However, in new companies DIN can be obtained within SPICe + facility for upto 2 directors
Incorporation of company along with filing of e-MOA and e-AOA
Providing you Certificate of Incorporation
Filing of Commencement of business certificate after 180 days
Board of Directors
The governing body of a corporation who is elected by shareholders. The directors are responsible for selecting the officers and the supervision and general control of the corporation.
Certificate of Incorporation
A certificate of incorporation is a legal document/license relating to the formation of a company or corporation. It is a license to form a corporation
The DSC (Digital Signature Certificate) is an instrument issued by certifying authorities by which you can sign electronic documents as all documents needed are electronic.
The statutory procedure that terminates the existence of a domestic corporation.
The act of creating or organizing a corporation under the laws of a specific jurisdiction.
Limited Liability Company (LLC)
Limited liability is a type of legal structure for an organization where a corporate loss will not exceed the amount invested in the company.
No, a private limited Company cannot invite the general public top to subscribe to the company shares.
Yes, a small business can get its business registered under private limited company registration in India. It gives them credibility and a positive image of their company in the eyes of financial institutions, suppliers, and future clients. It assists the organization in obtaining loans with minimal compliance from banks or potential clients when going into contracts.
Yes, sole proprietorship can be converted into private company registration after following the companies act, 2013 procedures.
Yes, we can easily change the registered office of the company any time after the specified procedure is completed. The changed address can be situated within the same state or in a different state, depending upon the conditions.
A private limited company needs a minimum of 2 directors and a maximum of 15 directors to register a company.
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