Description

Private Limited Company, the most popular legal structure for businesses, should be chosen by anyone looking to build a scalable business. It is one of the most popular legal structure options for businesses in India. A Private limited company registration requires a minimum of two members and a maximum of two hundred members. A director of a private limited company has limited liability to creditors. In case of a default, banks / creditors can sell only company’s assets but not the personal assets of a director. A Private limited company is considered one of the most popular corporate entity amongst the small, medium and the large businesses in India due to its various advantages. As these entities must hold board meetings and file annual returns with the Ministry of Corporate Affairs (MCA), they tend also to be viewed with more credibility than a Limited Liability Partnership (LLP), One Person Company (OPC), or General Partnership. At VJ Consilium, we are continuously available assist you on how to register a private limited company. Application of DSC DIN: First of all, the partners have to apply for Digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped. Name approval: You need to provide 2 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 MOA & AOA drafting & submission of forms: Once name is approved, one needs to draft Memorandum of association and Articles of Association. All required details are filed to MCA in Spice forms once the drafting is completed. Get incorporation certificate, PAN and TAN: It typically takes 7-12 days for company registration and get the incorporation certificate. Incorporation certification is a proof that company has been created. PAN and TAN will be received from Income Tax department physically in 15-20 days approximately. Bank Account: You can submit the Incorporation certificate, MOA, AOA with a bank to open your bank account.