A Private Limited Company is a business entity held by small group of people. It is registered for pre-defined objects and owned by a group of members called shareholders.
Quick & Easy100% AccuracyGet Expert AdviceComplete services under one roofPrivate Limited Company in India lies somewhere between a partnership firm and a widely owned public company. It is regulated under the company's Act 2013 and the Companies Incorporation Rules, 2014. It is a prevalent and popular business option in India as it gives separate legal identity, limited liability, more transparency, and international recognition to the business. The ownership of the company is divided among various shareholders (Max upto 50) as per there capital investment into the business as share capital. The liability of the members of a Private Limited Company is limited to the number of shares held by them.
The incorporation of a private limited company is a little bit of a technical task & due care should be taken while incorporating a private limited company. Although the Government of India has taken various steps to simplify the incorporation process, a non-professional person himself cannot incorporate a private limited company, he/she has to appoint an expert to complete this task. If you want to go for Private Ltd company registration, then you can completely rely on SuperCA. Save your precious time and energy and let our experts handle it for you. From obtaining DIN and DSC for Directors, Drafting of MoA & AoA, Getting company’s PAN and TAN to finally getting the incorporation certificate, our experts will always be punctual in every course of action.
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A Private limited company has a separate legal entity. It owns the name, act under the name and has a seal of its own and its assets are sperate and distinct for those of its member.
The privilege of limited liability for business debts is liability of a member as shareholder extends to the contribution to the capital of the company up to the nominal value of the shares held and not paid by him.
Shares of a company limited by shares are transferable by a shareholder to any other person. Filing and signing a share transfer form and handing over the buyer of the shares along with share certificate can easily transfer shares.
The life of the Company is not dependent on the life of its founders or its members. Even if the members, for that matter even all members, become bankrupt/insolvent, the company remains unaffected.
A company 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.
| Proof of Identity |
PAN card acts as a primary ID proof. All the partners are required to provide their valid PAN details while applying.
(in case of Foreign Nationals/ NRIs) – For foreign nationals and NRIs, they have to submit their passport compulsorily along with these documents. Passport has to be notarised or apostilled by the relevant authorities in the country of such foreign nationals and NRI, else Indian Embassy situated in that country can also sign the documents. A translated copy must be submitted after gaining the right authorisation or notarization if in case these documents are in any language other than English. |
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| Address Proof of Proposed Directors |
Address proof of Directors and Shareholder (Out of Latest bank statement, telephone bill, mobile bill, electricity bill or gas bill should be submitted as a residence proof. Ensure that statement shouldn’t be more than 2 months old).
(in case of Foreign Nationals/ NRIs) – The Foreign Nationals or NRIs have to submit a proof of address also which will be a driving license, bank statement, residence card or any government issued identity proof containing the address. |
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| Photograph | All partners must provide copies of their passport-sized photographs. While there is no strict specification regarding the size and resolution of the image, it is preferred that the photograph have a white background. | ||
| Registered Office Proof |
A proof must be provided to ensure the registered office address of the Pvt. Ltd company. Any utility service like telephone, gas, electricity, etc. depicting the address of the premises in the name of the owner or document, which must not be older than two months at the least can act as Proof of evidence
If the registered office is rented, the rent agreement and a NOC from the landlord has to be submitted. This acts as an authorization from the Landlord to use the premises by the company as its registered office. |
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| In case any shareholder is a company |
- Board resolution authorizing investment in the company - Incorporation certificate of the company - Address proof of the company |
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Name of a company is something which needs to be unique, desirable and one of its kind to make it stand out from the rest. Hence, there are specific guidelines for choosing a name for a Private Limited Company. The applicants and Registrar of Companies are advised to comply with following guidelines while applying or approving the proposed name while company registration:
A preferred format as per the MCA to name the company is - Unique Component + Descriptive name + Private Limited. In this, the unique component needs to be creative, imaginative, and distinct in nature, while the descriptive name defines your business in brief and gives perks of your work/business.
After you choose the name, MCA will ask to describe the significance and the main objective behind that name in one or two sentences.
For ensuring the security or authenticity of documents filed electronically the information act 2000 demands a valid digital signature on the documents submitted electronically. This is the only and safest way that one can submit their documents electronically. The digital signature certificate is very important for new company registration and should be acquired by only those agencies which are appointed by the controller of certification agencies (CCA). One should not use DSC given by any other agency which is not approved and it’s illegal to use others DSC as yours or the false one.
If you already have a digital signature then you can use the same, no need to apply another one for new company registration. But do check for your digital signature validity, agencies issue DSC’s with one or two year validity after expiry you have to renew it.
Depending upon the type of applicant, the documents required to obtain DSC for new company registration will differ.
It is a must process in new company registration that each director of the company should obtain their identification number. As per the amendment act 2006, acquiring a DIN is compulsory for every director i.e. as such every existing and intending directors have to obtain their DIN. To get DIN one needs to file an eForm DIN-1. The DIN-1 form is available on Official site of the ministry of corporate affairs. The steps are as follows :
Move 1 - Register yourself on MCA Website first and have a login id. After filing DIN-1 Form, one should upload the filled form by clicking the eForm upload button on MCA website and should pay applicable fees.
Move 2- After getting generated DIN one should intimate their company about DIN. The director can intimate their company about DIN by using DIN-2 Form.
Move 3 - Then the company should intimate the Registrar of Companies (ROC) about all director’s DIN through DIN-3 Form.
Move 4- If there is any change in DIN or need for any update like change of address, personal details etc, then director should intimate this change by submitting the eForm DIN-4 Form.
Step 1: The first step is to obtain DSC. DSC or Digital Signature Certificate is very important for the company registration and should be acquired by only those agencies which are appointed by the controller of certification agencies (CCA). In case you already have a DSC then you don’t need to apply for another one for company registration but you must ensure it must be under the validity period.
Step 2: Apply for the DIN of the proposed Director in SPICe Form along with the name and the address proof of the director.
Step 3: Submit an application for the name availability that should comply with the above guidelines.
Step 4: Submission of MoA and AoA .
Step 5: Apply for the PAN and TAN of the company documents submission to the ROC.
Step 6: RoC issues a certificate of incorporation with a PAN and TAN. After that the Company can start its business after getting the certificate of incorporation which can be incorporated within a few working days.
