Private Limited Company

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Incorporation of Private Limited Company - Exclusive of government fee & stamp duty
12499 /All inclusive price
Private Limited Company

A private company can be incorporated by following the provisions and regulations stated under the Company’s Act 2013. The minimum number of members and directors required for the incorporation is 2. There are many benefits that are achieved by a private limited company. It enjoys a greater stability and legal identity. it is flexible and a greater combination of capital. The number of directors who are to incorporate must be mentioned in Articles of Association.

What 911 can do to make your Private Company Successful?

We will write and structure your company’s objective, purpose, constitution, vision and mission statement, which will appeal to all stakeholders Help in selecting a very catchy name of your company and do the registration, and complete all the government procedures and compliance. Also, will help you to deal and comply with all post incorporation compliances of the company.

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    Advantages of a Private Limited Company

    A private limited company (pvt ltd company) is the most common vehicle to carry on business for an entity intending to make a profit and enjoy the benefits of an incorporated entity, particularly limited liability. Besides, limited liability and minimal statutory compliances, pvt ltd companies offer the following advantages:

    1. Separate Legal Entity: An entity means something which has a real existence; a thing with distinct existence. A company is a legal entity and a juristic person established under the Act. A juristic person is a person who is not a natural person or human being. Therefore a company form of organization has wide legal capacity and can own property and also incur debts. The members (Shareholders/Directors) of a company have no liability to the creditors of a company for such debts. Hence, a pvt ltd company is a legal entity separate from that of its members.
    2. Uninterrupted existence: A company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved. A company, being a separate legal person, is unaffected by the death or other departure of any member but continues to be in existence irrespective of the changes in membership. Perpetual succession is one of the most important characteristics of a company.
    3. Limited Liability: Limited Liability means the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a limited liability company the liability of the members in respect of the company’s debts is limited. In other words, the liability of the members of a company is limited only to the extent of the face value of shares taken up by them. Therefore, where a company is limited by shares, the liability of the members on a winding-up is limited to the amount unpaid on their shares.
    4. Free & Easy transferability of shares: Shares of a company limited by shares are transferable by a shareholder t any other person. The transfer is easy as compared to the transfer of interest in business run as a proprietary concern or a partnership. Filing and signing a share transfer form and handing over the buyer of the shares along with share certificate can easily transfer shares.
    5. Owning Property: A company being a juristic person, can acquire, own, enjoy and alienate, property in its own name. No shareholder can make any claim upon the property of the company so long as the company is a going concern. The shareholders are not the owners of the company’s property. The company itself is the true owner.
    6. Capacity to sue and be sued: To sue means to institute legal proceedings against or to bring a suit in a court of law. Just as one person can bring a legal action in his/her own name against another in that person’s name, a company being an independent legal entity can sue and also be sued in its own name.
    7. Dual Relationship: In the company form of organization it is possible for a company to make a valid and effective contract with any of tis members. It is also possible for a person to be in control of a company and at the same time be in its employment. Thus, a person can at the same time be a shareholder, creditor, director and also an employee of the company.
    8. Borrowing Capacity: A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to a company rather than partnership firms or proprietary concerns.
    Required Documents for Registration of Private Limited Company

    Following are the mandatory documents to be submitted by the company’s Directors and shareholders

    Scanned copies of:

    1. PAN
    2. Govt ID proof – Voters’ ID or passport or driver’s license
    3. Bank statement
    4. Utility bills either mobile or gas or electricity
    5. Passport size photograph

    Important things to remember

    Name on the PAN: As PAN is an important and mandatory proof for the entire company registration process and further legal procedures like filing taxes and compliances, the applicant has to ensure the name on the PAN is correct. Any changes required in change of spelling or any such anomalies dure to spelling errors have to be rectified before submission of the documents.All the other proofs must have the same name as on the PAN. In case if they are different, changes must be done on the others as well.

    Latest utility bills: All utility bills should be recent, not more than three months. If they are older, the RoC might arbitrarily reject the application.

    NoC: NoC or no objection certificate has to be compulsorily provided by the owner of the property where the company is being registered. If it is not possible to get an NoC, then the company can be registered by any acquaintance as it is just a correspondence address.