DEFINITION:
A Private Limited Company is one of the most popular forms of business entity which is held by a small group of people. In this form of business, the liability of its members is limited to the extent of the amount of their respective shares held by them.
Section 2 (68) “Private Company” means a Company having a Minimum paid-up share capital as may be prescribed, and which by its articles –
(i) restricts the right to transfer its shares:
(ii) except case of One Person Company, limits the number of its members to two hundred:
INCORPORATION OF PRIVATE LIMITED COMPANY
The incorporation of a company may be done after following the legal processes as mandated by Ministry of Corporate Affairs (MCA). The whole process and all forms are available and to be filled on their online platform i.e. at www.mca.gov.in.
Post incorporation, a Private Limited Company is recognised as a separate legal entity by the law, meaning thereby, it becomes a corporate legal entity entirely separate from its owners.
Register a company today to get funding and tax benefits.
Process of Registration of Private Limited Company
Registration of Private Limited Company includes:
- Acquire DSC for Directors and Subscribers
- For Filing Forms – DSC of Authorised Signatory
- For Filing DIN Application – DSC of Directors
- For Filing MOA and AOA – DSC of Subscriber
- Obtain Director Identification Number (DIN) of Directors
- Check of Name Approval
- Application for Incorporation of Company
- Filing of Memorandum of Association (MOA) and Articles of Association(AOA)
- Certificate of Incorporation (CoI), along with PAN and TAN can be received post-approval of the company registration process.
- A current bank account may be opened after getting a Certificate of Incorporation and business operations may be started.