A private limited company is the most common and popular type of corporate legal entity in India and which comes into existence by the process of incorporation. After a company is incorporated, it becomes a distinct entity from those who invest their capital and labour to run the company. The registration/ Incorporation of a Private Limited company is governed by the Ministry of Corporate Affairs ("MCA"). Companies are incorporated & regulated under the Companies Act, 2013 and the Companies Incorporation Rules, 2014.
The minimum requirement for a Private Limited Company
- Minimum Two Directors and two shareholders are required. Further directors and shareholders can be the same persons.
- The requirement of One Resident Director:
As per Section 149(3) Every company shall have at least one director who has stayed in India for a total period of not less than one hundred and eighty-two (182) days in the previous calendar year.
- The requirement of the Woman Director and Independent director: Not applicable to a private company.
- Private companies can have a minimum paid-up capital of any amount without any minimum limit
- Director Identification Number (DIN) and DSC for all the Directors5. Director Identification Number (DIN) and DSC for all the Directors
- PAN, ID Proof and Address Proof of all the Promoters and all the Directors
- Application for Name Approval in R.U.N and Approval of the Same [Note that Name desired should not resemble the name of existing registered company and shall not violate the provisions of emblems and names (Prevention of Improper Use Act, 1950)
- Drafting of Documents and Filing of e-Forms namely MOA/AOA/ SPICe Form/ AGILE e-form
- Proof of office/registered address and latest copies of utility bills
- Brief Writeup on the nature of business to be carried on in the proposed company
PROCEDURE OR STEPS IN INCORPORATION
- Application for Name Availability
- Preparation of Memorandum and Articles of Association
- Filing of documents, E- forms, etc.
- Issue of Certificate of Incorporation and Allotment of Corporate identity number by Registrar
- Applying and Obtaining Other Post Registrations required
- Opening Current Account with the Bank and remittance of share capital amount to the bank
- Filing of Declaration for the commencement of business
- Issue of Share Certificate and Appointment of Auditors
After Successful Processing of the Application, by the Registrar of Companies, they will issue an Incorporation Certificate mentioning a Corporate Identity Number (CIN) along with the Other registration opted in the form.
Further MCA has integrated the MCA21 System with the CBDT for the issue of PAN and TAN to a company incorporated using (SPICe). Therefore, the Applicant can submit applications for PAN and TAN at the time of submitting applications for incorporation through SPICe.
The PAN/TAN allotted by the Income Tax Department are being affixed on the Certificate of Incorporation of the company. The applicant can also apply for DIN through SPICe up to 3 directors.
We provide all types of Services connected to private limited companies including its Incorporation, Post incorporation all types of registrations, license, etc.