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Private Limited Company is the most popular legal structure for businesses in India. It should be chosen by everyone who looking to build a corporate entity. The private limited corporation has a minimum of two members and a maximum of fifty members. A director of a private limited Firm has limited liability towards creditors. In case of a default, banks/creditors can sell only company’s assets but not the personal assets of the directors. A Private Limited Company is considered one of the most popular corporate entity amongst all the small, medium and the large businesses in India due to its various advantages. A Private Limited Company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. Some of the unique features of a pvt ltd company like the limited liability protection to shareholders, the ability to raise the equity funds, separate legal entity status and the perpetual existence make it one of the most recommended types of business entity for small and medium-sized businesses that are owned by families or professionally managed.It takes 10-12 working days to complete private limited company registration process, subject to the government processing time and the client document submission.
One of the biggest benefits of private limited companies is the limited liability protection. Private limited companies treated as a single entity that makes the company responsible for all debts. If anything happens to the company.
A Private Limited Company is a legal entity and juristic person established under the Companies Act. A member (Shareholders/Directors) of a company has no personal liability to the creditors of a company for company's debts.
The ownership of a business can be transferred by transferring the shares very easily. The signing, transfer and filing of share transfer form and the share certificates are adequate to transfer the ownership of a company.
Directors of the Private Limited Company should have a digital signature and digital signature will use to file the registration, ROC compliance forms, and Tax returns.
When a Digital signature is approved, and you will get an approval email from the Registrar of companies that you are now eligible to be a director of a company. It takes 1-2 working days to approve DIN of Private Limited Firm.
After DIN Allotment we will proceed to file a Name approval application to ROC on your behalf.
After Name approval from the Registrar of Companies, we will file incorporation form with all supporting documents. Registrar of companies takes 3 working days to complete the approval.