Private Limited Company


By - Jagdish Lade

ispeedbiz.com is a leading online Business Registration Company in Maharashtra. Which Provides you all the details of the Private/Public Limited Company and initiates your registration process for a Private Limited Company in Maharashtra.

Private Limited Company Registration in Maharashtra:

Private Limited Company, Being the most popular and prevalent legal structure for Company Registration in India. Private Limited Company is a type of corporate legal entity in India. If you are looking for a business or want to grow your business then this is the most popular legal structure option for businesses in India.

Pvt Ltd Company has minimum two and maximum 200 members in its organization.

*Note, in case of any fault, the bank and the creditors can sell the company's assets but not the personal property of the director as a director has limited liability to creditors because of Pvt Ltd Company. This is plus point for small, medium and large size business.

 

Why choose a private limited company?


  • Firstly it offers limited liability protection to shareholders.        
  • It has flexible and limited liability. 
  • It's capable to have the ability to raise equity funds. 
  • The possibility to grow big and expand.  
  • It makes separate legal entity status and perpetual existence.
  • These Pvt Ltd companies are small and medium-sized and are owned by a family or professionally managed.

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Company Registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. To register any type of private limited company, only two shareholders and two directors are required. A natural or single person can be both as a director and shareholder, while a corporate legal entity can only be a shareholder.

Many Start-Ups and Growing Business Choose to register a company at Registrar of Companies in India, because outside funds can be raised easily, liabilities of its shareholders can be limited. At ispeedbiz, we are there to help you continue to understand, how to register a private limited company in India.

We also provide a great support for online Company Registration in India and it can be done through ispeedbiz in all major cities of India. It generally takes 10-15 working days to complete online company registration, subjected to the government processing time and the client document submission.

If you are interested and ready to start your business then get a free consultation for private limited company registration and business startup by scheduling an appointment with an ispeedbiz Adviser.

 

Few Reasons to Register a Private Limited Company in India :

1. Separate Legal Entity which limits your liabilities.

Separate Legal Entity means a company has a large range of legal capacities such as an opening of bank accounts, hiring employees, obtaining licenses and taking on equity it has its own independent corporate entity. A member (Shareholders/Directors) of a company has no personal liability to the creditors of a company for company's debts.

2. Limited Liability

Every Business often needs to borrow money. In company structures such as General Partnership, partners are personally liable for all the debt raised for the company. The company cannot pay their debt if anything wrong happens, the sole person will have to pay the debt by selling his property or something other. But in a private limited company, only the amount which is invested in starting the business would be lost and the directors' personal property would be safe.

3. Investment-ready

In Private limited companies, a fund can be raised easily as there is a clear distinction between shareholders and directors as well as limited liability. Secondly, it offers you the ability to hire the top talent which you may not be able to afford by merely paying a salary.

4. Easy Debt Access

A private limited company has more options for taking on debt than LLPs.

5. Borrowing Capacity

A Private Limited Company can raise the equity funds in India. Pvt Ltd Companies are Preferred by banks, VCs & investors to provide funds as compared to partnership firms or proprietary concerns.

6. Uninterrupted Existence

A company acts as a separate legal person and is not affected by death or other the departure of any member. It continues to remain in existence irrespective of the changes in ownership, that because of Private Limited Company has 'perpetual succession'.

7. Easy Transferability

The ownership of a business can be transferred very easily by simply transferring the shares of the company.

8. Owning Property

A Private Limited Company is a separate, legal person can obtain, enjoy, own and alienate, property in its name. Property owned by a company may be building, machinery, intangible assets, land, residential property, factory, etc., No shareholder can stake a claim upon the property of the company - as long as the company is the going concern.

 

Step by Step Registration Process for a Private Limited Company :

  1. Application of DSC & DIN

First, the partners will have to apply for Digital Signature Certificate (DSC) and Director Identification Number (DIN). The Digital signature is an online signature which is used to fill the online form. Whereas DIN refers to Directors PIN number issued by MCA.  

  1. Name approval:

First check for the company name availability. Then you need to provide 3 different options for your company name to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.

  1. MOA & AOA submission:

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Once a name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement.

  1. Get incorporation certificate:

Usually, it takes 15- 25 days to form a Private limited company and get the incorporation certificate. Incorporation certification is a proof that company has been created. It also includes your CIN number.

  1. Apply for PAN, TAN and Bank account:

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Once your Private Limited Company is created then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.

 

Documents Required for Registration Process of Pvt Ltd Company :

Below is the list of all the documents which are required for the company to be incorporated.

*Note: Identity and address proof will be required for all directors and shareholders of the company and for Indian nationals, PAN is mandatory. 

1. PAN Card of directors

2. Passport size photograph of directors

3. Aadhaar Card/ Voter identity card of directors

4. Rent agreement (If rented property)

5. Electricity/ Water bill (Business Place)

6. Property papers (If owned property)

7. Landlord NOC (Format will be provided)

 

Complimentary worth Rs.5000 for free :

If you buy our Company Registration services from ispeedbiz you will get a free complimentary kit worth of Rs.5000 only, as compared to other registration companies that will save your time and money both.

 

This complimentary service includes,

  1. You will get your own PAN/TAN for free with is very much recommended for your business. 
  2. You will have Udyog Aadhar of your own for free.   
  3. You will get rubber stamps with your company names for free.    
  4. Payment Books and Receipt Book will be given to you by us.   
  5. We will provide you help to expand your business online. You will get decent hosting packages with 10 professional E-mail accounts. This will help you to expand your business very quickly. 
  6. We will provide you 3 copies of MOA and AOA.   
  7. We will provide help to have Bank Accounts in less time.

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