Private Limited Company
The Fees excludes the Government Fees, Service tax and includes a Preparation of Memorandum of Association, Preparation of Article of Association, Digital Signature of One Director, Delhi Shop Establishment Registration, Applying for the PAN, Applying for the TAN.
As the name suggests, Private limited Company has a private ownership. Business structure of a Private Company consists of minimum of the two Directors Shareholders/ Members/Founders have a limited liability by shares or guarantee.
A Private limited company can be formed under the provisions of Companies Act 2013 as per the definition of Section 2(68) of the Companies Act.
Section2 (68) of the Companies Act 2013, states that: -
Private Company means a company having a minimum paid-up share capital of Rupees One Lakh or higher paid up share capital as may be prescribed, and which by articles:-
(i) Restricts the right to transfer its shares
(ii) except in case of one person company, limits the number of its members to two hundred:
Provided that where two or more persons hold one or more shares in a company jointly , they shall , for the purpose of this clause be treated as a single member.
Provided further that
(a) persons who are in the employment of the company , and
(b) Persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased,
shall not be included in the number of members, and
(iii) prohibits any invitation to the public to subscribe for any securities of the company.
As per the Companies Act 2013, Section 149(3), recently introduced, Atleast One Director needs to be an Indian Resident who has stayed in India for more than 182 days in the previous calendar year.
Procedure of incorporation includes: -
Applying for DIN of all the directors of the Company
Acquire/ Register DSC
- Apply for the Name of the Company
- Submission of the Memorandum of Association, Articles of Association, documents and essential information,