COMPANY INDIA

Private Limited Company- Meaning

A private company is a company which has the following characteristics:

• shareholders’ right to transfer shares is restricted;

• the number of shareholders is limited to fifty; and

• An invitation to the public to subscribe to any shares or debentures is prohibited.

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Requirements for a Private Limited Company

• Registered Business Name: This must be followed by the word ‘Limited' or ‘Ltd'. The Companies Registration Office exercises some control over the choice of name, it cannot be identical (or very similar to) the name of an existing company.  

• Registered Office: This  as the business is conducted from.. This is the address, through, where all official correspondence will go.

• Shareholders: There must be a minimum of two shareholders (also described as `members' or `subscribers'). A private company can have up to fifty shareholders.

• Share Capital: The Company must be formed with a stated, nominal share capital divided into shares of fixed amounts. Small companies are frequently formed with a nominal share capital of Rs.100.

• Memorandum of Association: The memorandum is the company's charter. It states the company's name; the situation of its registered office; its share capital; the fact that liability is limited and, most importantly, the object for which the company has been formed. The memorandum must be signed by at least three shareholders.
  
  
• Articles of Association: The document contains the internal regulations of the company, the relationship of the company to its shareholders and the relationship between the individual shareholders.

• Certificate of Incorporation: This is the document, which the registrar of companies issues to you once he has approved your choice of name and your memorandum. When you receive this document your company legally exists and is ready to trade.
  
  
• Auditors: Every company must appoint a qualified auditor. The auditor's duty is to report to the treasurer whether or not the books of the company have been properly kept

• Accounts: The Companies Act lays down strict rules on accounting. Every company must maintain a set of records, which show the financial position at any one time with reasonable accuracy.

• Company Seal: All companies must have an engraved seal. This must be impressed on share certificates and must be used whenever the company has to execute a deed. Again, this is included in the ready-made company package.

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Advantages of Incorporating in India

• Many tax exemptions available to the company set up in Special Economic Zone;

• Many tax incentives available to IT companies;

• India has got double taxation treaties with many countries;

• Minimum authorized capital of only INR 100,000 (US $ 2250 approximately) is required to form a private company in India;

Steps for Incorporating a Private Limited Company

The procedures for incorporation of a company vary for each type of company. The steps common for incorporation of all types of companies is given as under:

• Selection of Suitable Company Name and check its availability
• Obtain Director Identification Number (DIN) & Digital Signatures of the proposed Directors of the company
• Applying for Name Approval of selected name to the Registrar of Companies.
• After Name is approved by the ROC, drafting of Memorandum and Articles of Association containing main objects of the company
• Signing and filing of various documents with the Registrar of Companies electronically as well as physically
• Payment of Registrar of Companies(ROC) Company Registration Fees
• Obtaining Certificate of Registration.

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What We Do

Company Formation Service

Our services include:

• Formation & Registration of Company
• E- Filing of Documents with MCA.
• Compliance under Companies Act, 1956
• Getting the Company name changed.
• Formation of Section 25 Company
• Getting Charge Registered
  Liaison with Registrar of Companies & Regional Directors
• Getting Director Identification Number (DIN)
• Maintenance of statutory records prescribed under Companies Act, 1956  

and Many more.....

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