A private limited company is a private company that is privately for small businesses. This type of business entity limits the owner’s liability for its shareholders, the number of shareholders to 200, and prohibits shareholders from trading shares in public.
Private Limited Company is the popular type of business entity. By October 2020, more than 20 lakh companies have registered in India and 12 lakh companies have been classified as active. All companies register in India are govern by the MCA (Ministry of Corporate Affairs) under the Companies Act, 201. The company registration process can complete online at India Fillings in less than 10 days with the help of experienced investment experts. In the case of a private limited company registration in Madurai, the name of the company with the last word “private limited”. A private limited business enterprise is require to register with the Registrar of Companies (ROC) in their area.
We specialize in company registration with a wide range of commercial companies such as Private Limited, One-Person Company (OPC), Limited Liability Partnership (LLP) and Public Limited Company. The impressive thing is that we offer all these services at cheap rates without compromising on quality.
Types of companies include:
- Companies are limited by shares
- Companies limited by guarantee
- Unlimited companies
1.Companies are limited by shares:
The shares of a company own by at least two or more shareholders or members.
A company limited by shares is a company which has a liability of its members limit to a limited amount which is pay on the shares hold by them respectively. The Company may apply its obligations to its existence or to its termination.
Private Limited Company Registration in Karur by shares end with a limited term that informs us that this company has limited liabilities. This literally means that shareholders’ liability is limit by the shares they hold.
All companies that are limit by shares must be legally register under the Companies Act 2013.
2.Companies limited by guarantee:
This is a business structure that is seen as a legal person and is responsible for its own debts. A company limited by a guarantee has members and not shareholders.
It is a company that does not have share capital. Such companies have a separate legal entity, i.e. the buying and selling of property, employment of people, borrowing activities may take place in the name of the company.
This composition is legally select for most non-profit organizations, charity societies, clubs and other similar organizations. Private Limited Company Registration in Madurai companies are for-profit companies because the profits are not distributed among the members but are retained in the company.
There is no limit to the liability of the members of a company which is unlimited by shares. One such company is a hybrid company with or without share capital. There is no limit to the legal liability of shareholders or members.
The liability of the shareholders for the debts of the company is unlimited. In the case of debt, there is no distinction between the personal and company resources of the shareholders. There is also maximum exposure to hazards.
Benefits of private limited company registration:
No minimum capital is required to form a private limited company. A private limited company for only Rs. 10,000 as total authorized share capital.
Separate the legal entity
The private limited company registration Registration in surveyor colony,Madurai has a separate legal identity in the court of law, i.e. the assets and liabilities of the business, the assets and liabilities of the director are not the same. The two are consider separate. A private limited company differs from management and ownership and thus, managers are responsible for the success of the company and also for the losses of the company.
If the company goes through financial hardship for any reason, the personal assets of the members will not be used to pay off the debts of the company as the liability of the individual is limited. E.g. If a private limited company registration in Karur takes out any loan and is unable to repay, the members are only liable to repay how much they own towards their own shareholding i.e. unpaid share price. This means that if you owe as much as the amount of shares, you are not liable for any debt owe by the company, even if the amount of debt / credit remains unpaid.
In India, a private limited company is the only form of business other than public limited companies that can raise money from venture capitalists or angel investors.
Free and easy transfer of shares
Shares of a company limited by shares are transfer by the shareholder to any other person. A transfer is easier than a transfer of interest in a business that runs as an ownership concern or partnership. The shares can be easily transfer by filing and signing the share transfer form and handing over the share certificate to the buyer.
A private limited company registration in karur has a ‘perplexing successes, which continues or continues to exist until it is legally dissolve. A company, being a separate legal entity, is not affect by the death or other departure of any member, but exists regardless of the change in membership. ‘Perpetual success’ is one of the most important characteristics of a company.
Foreign Direct Investment
In a private company, 100% foreign direct investment allow which means that any foreign entity or foreign person can invest directly in a private limited company.
Company details are available on the public database. It improves the reliability of the company as it makes it easier to standardize the details
Documents required for private limited company registration:
1.PAN card of all directors
2.Passport size photographs
3.Either “Aadhar Card or Voter Identity Card”, have to be submitted during the registration process
4.If the company’s property is for rent, a lease agreement must be shown
5.One of the two: – Electricity / water bill but any of them should be for business only
6.Property Papers (Owned)
7.Landlord NOC (format will be provided)
Procedure of private limited company registration:
Step 1: Get DSC (Digital Signature Certificate)
A private limited company registration in Madurai is require to apply for the digital signature of designate partners before beginning registration.
The DSC is important because all documents before submission need to be digitally signed.
Step 2: Apply for DIN (Director Identification Number)
Application for DIN is mandatory for every director.
DIN application form should fill in DIR-3.
Step 3: Name approval and its reservation
Approval of a private limited company name is an important step for the establishment of a company.
The RUN (Reserved Unique Name) form is filled for the reservation of the name given by the private limited company.
The name provided must be in accordance with Rule 8 of the Companies Registration Act, 2013
Step 4: composing of Form INC 33 and INC 34
The move includes a draft of the MOA and AOA. This has draft under C INC 33 and INC 34 respectively.
If required we can file ESI, EPF, GST at the same time in the name of AGIL.
Step 5: Include private limited
For the inclusion of a private limited company registration in Coimbatore, the investment forms (INC 33, INC 32, AGIL) upload along with the spicy form INC 32. This is to be filled with the Registrar of Companies of the concerned State which has the Registration Office of the Company Located.
Step 6: Approval of documents
Once the Spicy Form INC-32 will approve, the Registrar will issue the company’s page and T.N. Also provides company identification number (CIN).