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Easy Online Private Limited Company Registration with NRV & Co.
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Enjoy hassle free Private Limited Company registration processing with NRV & Co.
NRV & co. lays a groundwork for your business.
THREE STEPS FOLLOWED BY NRV & Co.
Introduction
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.
Features
Each member's or shareholder's liability is limited. The shareholders' personal, individual assets are not at risk.
A prospectus is not required in the case of a private limited company because the public is not asked to subscribe for the firm's shares.
All private companies must include the phrase "private limited" after their name.
A private limited company is formed when there are at least two shareholders. The member requirements have no upper limit.
A Private Limited Company has a legal identity separate from its shareholders and directors.
Eligibility
Minimum 2 director
Director and Shareholders may or may not be the same persons
Minimum capital requirement is NIL
One Director must be a Resident Indian
DIN of the directors
Digital Signature of subscribers and directors
Benefits
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.
Documents Required
Passport sized photographs of all the directors
E-Mail ID
Contact Number
Identity Documents of all the Directors:
Aadhar Card
Pan Card
Passport/National Identity Card (In case of foreigner)
DIN (Director Identification Number) of all the Directors
DSC (Digital Signature Certificate) of all the Directors
Address proof of the premises:
If Rented: The Rent Agreement or Consent letter/No Objection Certificate
If Owned: SMC Vera bill/Light bill (Not older than two month)
Self-declaration about the directorship in other companies
MOA (Memorandum of Association)
AOA (Articles of Association).
Description of proposed business activity and other additional activity which a company may pursue
Authorized and Paid up capital & sharing proportion of subscribers
Process
1 Verification of document
2 Application for Name Approval (online RUN WEB Application on MCA Portal)
3 Obtaining DSC (Class-2) and DIN as required above. However, in new companies DIN can be obtained within SPICe + facility for upto 2 directors
4 Incorporation of company along with filing of e-MOA and e-AOA
5 Providing you Certificate of Incorporation
6 Filing of Commencement of business certificate after 180 days
Glossary
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
DSC
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.
Dissolution
The statutory procedure that terminates the existence of a domestic corporation.
Incorporation
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.