Articles
Private Limited Company Registration Process
by Ananya Nair Accounting and Legal ServicesA private limited company or PLC is the most standard and extensively acknowledged corporate legal entity in India restricts the right to transfer its shares.
What are the features
of a private limited company?
Number of The Members
Required - A private limited company required a minimum number of 2 members
and a maximum number of 200 members as per the companies Act 2013.
Perpetual Succession - The life of the company keeps on existing for a countless period of time. Under any situation like death, liquidation or bankruptcy of the business, the company will remain to exist. This gives way to the perpetual succession of the company.
Limited Liability
- For every shareholders or members of the company liability is limited in Pvt.ltd
Company. Personal belongings of the shareholders or members of the company will
not be in risk at all under any circumstances. If in any case the company will
face business loss etc. the members or shareholders are not liable to sell
their personal properties.
Separate Legal Entity
–
A company has an identity distinct from its members. Thus, the
assets and liabilities of the company are separate from that of its owners.
A legal entity is usually a business that can be demarcated from a different business or individual with respect to accountability. For any private limited company the owners are not responsible for any activities taken by the company except caused with deceitful purpose with involvement of the owners.
Risk Bearing For any business organization the risk of any financial damages is accepted by the shareholders. This is different for sole proprietorship and partnership where one or few persons bear the fatalities respectively. Hence if any company experiences damages, all the shareholders contribute to such a loss to the amount of their share in the company’s capital. Hence the risk of loss thus gets divided over a large number of shareholders.
Registration Process
of Private Limited Company:
Procurement of Digital
Signature Certificate – This is compulsory to obtain Digital Signature
Certificate (DSC) and Designated Partner Identification Number (DPIN) for
private limited company registration process. DSC is required for e-form filing
on the portal of MCA and for the director of the company it is required to
obtain DPIN through online.
Get Approval of Company Name – Getting approval for your company name is another important step of private limited company registration. You need to submit minimum 2 and maximum 6 proposed name of your company to MCA for approval. While checking the name of your company MCA considered few points like availability of the name, standard of the proposed company name etc. The process of approval generally completed within 5-7 working days.
Company Registration
– You need to collect all the required documents for company registration
process and submit to MCA along with an application. Usually in 5-7 working
days the company registration process gets completed.
How FinacBooks can
help you for the process of private limited company registration?
FinacBooks is a considered as one of the best and authentic accounting,
financial and taxation service providers. The company has a network of 10000+
CA’s and tax experts with operations across all over India. FinacBooks offers
you the most comprehensive solution for your private limited company
registration.
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About Ananya Nair 
Accounting and Legal Services
25 connections, 0 recommendations, 109 honor points.Joined APSense since, June 5th, 2018, From New Delhi, India.
Created on Dec 20th 2019 05:31. Viewed 721 times.
