A Private Limited Company generally called ‘Private Company’ is a Company incorporated under Companies Act 2013 Private Limited Companies are an ideal way of starting and structuring startups with a higher scope of expansion as compared to partnerships as it is easy to raise capital from financial institutions due to its higher stability and reliability. Private Limited Companies are those types of companies where minimum number of members is 2 and maximum number is 200 and Shareholders is below 50 A private limited company has all the advantages of partnership and at the same time it has advantages of limited liability, , A Private Limited Company is a blend of corporate form of business structure and partnership Private Limited Companies are an ideal way of starting and structuring startups with a higher scope of expansion as compared to partnerships as it is easy to raise capital from financial institutions due to its higher stability and reliability.
A company is a legal entity and a juristic person established under the Act. 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.
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
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.
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.
Private Limited company can be transferred easily without any complications. Change in Directors and Shareholders can be done in less than 2 Hours.
A private limited company has more options for taking on debt than Limited Liability Partenerships and One Person Companies.
Digital Signature Certificate ( DSC is required for e-filling with MCA. A DSC application need to be filed along with ID and address proof duly attested by bank manager, gadzeted officer or post master. )
Its a unique number which is alloted to the Director of a company by the Ministry of Corporate Affairs (MCA).
A minimum of one and maximum of six proposed name can be submitted to the MCA for name approval. Name approval will be obtained within 1 working days.
MOA and AOA are drafted in line with the provision of Companies Act 2013. MOA is a legal documentation which defines activity of the company. AOA is the rule book of company operations.
After submitting the documentation the Ministry of Corporate Affairs will issue a certificate of incorporation.
Once the Ministry of Corporate Affairs issue the company incorporation certificate, we will apply for the TAN & PAN.
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