A Private Limited Company (PLC) requires a minimum of 2 Directors and 2 Shareholders with one of the Directors being an Indian Resident and Indian Citizen. As a company is a separate legal entity, the company’s members (shareholders or directors) are not personally liable for the company’s liability. A company has ‘perpetual succession,’ which means it will continue to exist until it is legally dissolved. Because a company is a separate legal entity, it is unaffected by the death or other departure of any of its members, and it continues to exist regardless of membership changes.
Advantages of Private Limited Company
1.Separate Legal Entity:
A company is both a legal entity and a juristic person. Therefore, a company has broad legal rights like acquiring property, incurring debts, hiring people, etc.
A private limited company is a separate legal entity with limited liability provisions.
A Private Limited Company has multiple options for fundraising. A company can raise funds from shareholders, investors, angels, venture capital funds, private equity funds, foreign funds, NBFCs, banks, and other financial institutions. Only a company can raise debt and equity funds from investors.
Step 1: Digital Signature Certificate (DSC)
Our team shall obtain Digital signatures by filing the forms on the MCA portal. DSC is mandatory for all the proposed directors and the subscribers of the Memorandum of Association (MoA) and Articles of Association (AoA).
Step 2: Director Identification Number (DIN)
The Director Identification Number (DIN) is an identification number for a director and it has to be obtained by anyone who wants to be a director in a company. Our team shall obtain DIN while filing the SPICe+ form, i.e. company registration form.
Step 3: Registration on the MCA Portal
Our team shall fill out the SPICe+ form and submit documents and register the director of the company in the MCA portal. Our team shall conduct a name run for the respective name provided by you to our In case the SPICe+ form gets rejected due to non-approval of the company name, we shall have to re-file another SPICe+ form for the reservation of a new name by paying the prescribed fee again.
Step 4: Certificate of Incorporation
The Registrar of Companies after verification shall issue the Certificate of Incorporation of the Company.
We shall provide you the Certificate of Incorporation, PAN and TAN.