Private limited company stands for a company whose shareholders are offered limited liability. These companies are held by few individual privately with having the separate legal entity. It also restricts the rights of its members to transfer its shares.
These restrictions are defined in company’s bye laws. And the important aspect with it is they don’t send invitation to public for subscription to its shares. An entity can register itself through startup India portal.
For registering the private limited company in India there contain the various processes. The initial process begins with first ensure that company name is not similar to any other Private Limited, OPC, LLP or Public limited company. Also, do check if your first is not a registered trademark taken by anybody under the IP Act.
And the requirements for form of private limited company which are minimum 2 Shareholders or Person and Minimum 2 Directors (Directors and Shareholder can be same). In the further process of registration we have to obtain Digital Signature Certificate (DSC) for the proposed Director and Obtain Directors Identification Number (DIN) for proposed Director / Promoter not having DIN by applying to Ministry of Corporate Affairs.
The various documents are required for completion of this process as identity proof; address proof, memorandum of association, and affidavit for the non-acceptance of deposit, utility bill of registered office premises, and requirement of Form INC-7, Form INC-22, and Form DIR-12.
With New Form INC 29 the total time to register a Private Limited company is 10-20 working days. Certain important points should be kept in mind when choosing a name for private limited company registration: It is easier to obtain a name if it depicts the object.
And the most important thing is the name should not include any word which is a registered trademark or has been applied for Trademark registration.
Author: This blog is written by Ms. Deepshikha Dabi, a passionate blogger & intern at Aapka Consultant.
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