Private Limited Company

A Private limited company is a company which is privately held by the small group of people. It is registered for pre-defined objects and owned by a group of members called shareholders. The liability of the shareholders of a Private Limited Company is limited to the amount of shares respectively held by them. Shares of Private Limited Company cannot be publically traded.

The business entity gets recognized as a Company through its registration under Companies Act, 2013 in India. The governing body is Ministry of Corporate Affairs, widely known as MCA.

Private Limited Company Registration

The average time taken to complete a registration process is about 20-25 working days, subject to government processing time and client document submission.

Documents/Details Required for formation LLP

The requirements for private limited company registration are:

Members – A minimum number of two and a maximum number of 200 members or shareholders are required as per the Companies Act, 2013 before registration of the company.

Directors – A minimum number of two directors is required for registering the private limited company. Each of the directors should have DIN i.e. Director Identification Number which is given by the ministry of corporate affairs. One of the directors must be a resident of India which means he/she should have stayed in India for not less than 182 days in a previous calendar year.

Name – It is one of the major components of a private limited company. The name of the company contains three parts i.e. the name, the activity, and private limited company. It is necessary for all private companies to use the word private limited company at the end of its company name.

Registered office address – While going for the registration of the company, the owner should provide the temporary address of the company until it does not get register. However when the company has been registered then the permanent address of its registered office should be suited with the registrar of the company.

Obtaining a Digital Signature Certificate – In today’s modern world everything is done online. All documents are submitted electronically and for that, every company must obtain a digital signature certificate which is used to verify the authenticity of the documents. A digital signature is obtained by all the directors which are marked on all the documents by every director.

Professional Certification – In a company there are many professionals which have required for many purposes. For incorporating a private limited company certification by these professionals are necessary. Various professionals such as company secretary, chartered accountant, cost accountant, etc are required to make their certification at the time of company incorporation.

Documents required for incorporation of Private Limited Company

  • Share capital amount and proposed ratio for holding shares.
  • A short description of the company and the business.
  • Name of the city where the registered office of the company is located.
  • Ownership and sale deed (In case your own premise).
  • Identity proof of the Directors and Shareholders (PAN Card).
  • Address proof of the registered office (Electricity bill, telephone bill, etc.)
  • Address proof of the Director or the Shareholder (Voter ID, Passport, Driving license, etc.)
  • A duplicate copy of the latest electricity bill, telephone bill, or mobile bill for directors.
  • Occupation details of directors as well as shareholders.
  • Email address of the directors and shareholders.
  • Contact details of directors and shareholders.
  • Passport size photo of directors and shareholders.
  • In case the property is on rent then you need to submit a copy of the rent agreement with No Objection Certificate (NOC) from the landlord.
  • Affidavits for non- acceptance.
  • NOC for a change in the original subscribers of MOA.
  • MOA and AOA subscriber sheets.
  • In case you are a foreign national subscriber then you need to provide Nationality proof.