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  • Private limited company

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  • private company registration
Advantages Documents Cost Process FAQ’S

What is Private Limited Company Registration

A private limited company is treated as a business entity dealt completely by private ownership . In this type of company registration, the provisions of company Act 2013 applies. For a private limited company registration, it is mandatory to have four roles defined sorted namely 2 Directors and 2 Shareholders. It is not necessary to have four different people to be part of the pvt ltd company registration, a person can act as both the shareholder and one of the directors. The primary reason to register a private company is the status of separate legal entity i.e. the incorporation of company would be of limited liability company and the shareholders are only accountable for the unpaid amount held by them and. The overall procedure of company incorporation is smoother and effective as the costs are considerably reasonable in nature.

Private Limited company Registration is the goto method of company formation for people who are looking into the startup registration route as it is very easy to get the seed funding from the angel investors as all the basics are legally established. The procedures are minimal with regards to documents for setting up private company in India and are ready off the bat to get the investment from ventures hence, many people prefer registering a private business.

Establishing a business as private limited company has its own set of advantage that other methods of the online company registration like firm registration, Limited Liability Partnership (LLP) registration, Public Limited Registration or Nidhi company Registration, as going with private company registration provides you with out of the box funding compatibility. If the company is going too venture offshore and they are awaiting investment from the same then private limited is the way to go.

At Kshitij T & L Consultancy Consultants we provide you a hassle free consultation on business registration and guide you on the procedure of how to register a company which would be dealt by our professionals within a time frame of 10 working days and is subjective to governmental processing time. Our team takes care of the documents required for private company registration and aids in provide you the realistic estimation of cost.

Advantages of Private Limited Company Registration


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.

Documents required for private company registration


Passport size Photograph

Copy of PAN Card

Copy of Aadhar Card

Address Proof (Bank Statement/Mobile/Telephone Bill)

Copy of Electricity Bil

Sale Deed (if owned)

Copy of rent agreement
(if rented)

NOC

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PACKAGES


Basic


(All Inclusive)

Get Started

Premium

24999/-
(All Inclusive)

Name Approval
MOA/AOA
2 DIN
2 DSC
PAN & TAN
Certificate of Incorporation
Share Certificate
GST Registration
Trademark Filing
Udyog Aadhaar Registration (MSME)
Certification Under PF Act
Certification Under ESIC Act
Certification Under PT Act

Get Started

Standard


(All Inclusive)

Get Started

Note:

  • The above price may vary due to stamp duty in various states
  • Trademark filing excludes government fees

Process involved in registering a Private Limited Company

1

Getting sorted with Director identification number and Digital signature

1-2 working days

Digital Signature Certificate(DSC) is required of the proposed Directors and Subscribers of the Company and it can be obtained within 1-2 working days.
2

Applying for the
name

3-4 working days

After obtaining the DSC and DIN of the proposed subscribers and Directors, our team will get in touch for a unique name and along with that collect all the requisite documents in scan for the incorporation of the company through the SPICE i.e INC 32
3

Filling for the incorporation

3-5 working days

After the name approval and review of all the documents required, we will submit incorporation Forms to MCA and once it gets approved Certificate shall be issued by the ministry and we will send the MOA & AOA, DIN via mail and DSC through courier

Mandatory Requirements for Private Company Registration:

  • DIN and DSC of all the Directors
  • Minimum 2 Directors
  • Minimum 2 shareholders
  • There should be some amount as paid up share capital
  • At-least one Indian resident Director out of two.
  • Registered office address in India

Benefits of registering a Private Company

Protection for shareholders in proper legal terms.

Open for funding from outside
India.

Proper role segregation in terms of shareholders and directors.

Minimum two shareholders are enough where as in public limited registration a minimum of 7 shareholders are mandatory.

No need to disclose the financial reports unlike publicly registered corporations.

various exemptions under provisions of Companies Act, 2013.

Mandatory Compliances of Private Company every year

Minimum number of board and general meetings as prescribed under the Act

Appointment of Auditor


Statutory audit by a chartered accountant

Annual filings to registrar of companies

Maintaining Minutes and statutory registers.

Filing of ITR

Here is the break down for helping you to decide your form of business

S.No. Particulars Private Limited One person LLP
1 Eligibility Any individual may form a PLC Only a natural person who is an Indian citizen and resident in India. shall be eligible to incorporate an OPC Any individual and body corporate may be a partner in LLP
2 Taxation Taxed at 30% plus surcharge and cess as applicable. Taxed at 30% plus surcharge and cess as applicable. Taxed at 30% plus surcharge and cess as applicable.
3 Closure/Dissolution/ Winding up Can be initiated- Voluntarily, or By the Tribunal Can be initiated- Voluntarily, or By the Tribunal Can be initiated- Voluntarily by the partners or; By the Tribunal
4 Existence or Survivability PLC is not dependent on the directors or shareholder. Can be dissolved only voluntarily or by Regulatory Authorities. Existence of an OPC is not dependent on the Director or Nominee Director. Could be dissolved only voluntarily or by Regulatory Authorities. LLP can continue its existence irrespective of changes in partners.
5 Credibility High Medium Medium
6 Statutory Audit Compulsory Compulsory If Contribution > Rs 25lacs or, Turnover > Rs. 40lacs
7 Minimum Requirement Members-2
Directors-2		 Member – 1
Director – 1
Nominee of Sole Member – 1		 Designated Partners – 2
8 Fund Raising Options High Low Low

FAQ’s about Private Company Registration

  • What is minimum capital required for company registration in India? ?
    There is no minimum capital required as per companies act 2013 and its company rules, promoters are free to contribute and start the business as per their requirement.

  • What is the Memorandum of Association (MOA) and the Articles of Association (AOA) of a company and what is the procedure in their regard?
    On receipt of the name approval letter from the ROC the MOA and the AOA are required to be drafted. The MOA states the main, ancillary / subsidiary and other objects of the proposed company. The AOA contains the rules and procedures for the routine conduct of the proposed company. It also states the authorized share capital of the proposed company and the names of its first / permanent directors. After the MOA and AOA are required to be stamped.A stamp duty is required to be paid on the MOA and on the AOA. The stamp duty depends on the authorized share capital.

  • How to register a company in Mumbai?
    Company registration in Mumbai can be done through the SPICE form i.e. e-form INC-32 in which MOA and AOA is also uploaded and provided to the MCA for verification and registration.

  • What is company registration certificate?
    After all the documents are filed, the ROC calls the attorney on a specific date for scrutiny and making the corrections in the MOA and AOA filed. On complying with the same, the certificate of incorporation is granted to the attorney.

  • What are the advantages of Private Company Registration?
    1. Limited liability which literally translates to if anything does not goes by plan it only affects the specific persons stakes of share not the actual company as they are separately liable.
    2. Continuity of Existence even after the transfer of shares or unfortunate event of death of any director
    3. In funding point of view private limited works out the best in getting the attention of Venture Capitalist (VC’s).
    4. Has an upper hand in terms of TAX advantages.
    5. Provides more exposure and credibility.
    6. Simplified process.

  • How to register a company name?
    Company name could be applied through the process of submitting e-form named “RUN” with government fee of Rs 1000/- under MCA site.

  • What are the Guidelines for selecting name of a Company?
    1. Name and object of the company could differ entirely and not necessarily to be in consonance with each other.
    2. Promoter can keep Company name on their initials and the same could be abbreviated.
    3. No need to change company name in case of business activity change.
    4. No need to obtain any sort of NOC whose name is being used in Company’s name.

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