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Private limited Company
A Private Limited Company in India is a type of business structure governed by the Companies Act, 2013. It is a popular choice for entrepreneurs and small to medium-sized businesses. Here are the key features of a Private Limited Company in India
Documents required
- 4 Unique names
- Business Description
- Pan card of directors
- Aadhar card of Directors
- Business Address proof (Electricity Bill + Rent agreement + NOC)
- Proof of Address for directors (Electricity bill / bank statement / Prepaid mobile bill)
- Proof of Identity for directors (Driving licence / Voter ID / Passport
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A Private Limited Company in India is a type of business structure governed by the Companies Act, 2013. It is a popular choice for entrepreneurs and small to medium-sized businesses. Here are the key features of a Private Limited Company in India
A private company is a company which by its articles, restricts the right to transfer its shares, if any, limits the number of its members to 50 and prohibits any invitation to the public to subscribe for any shares or debentures of the company.”
Criteria to be fulfilled for registering a Private limited company
- Restrict the number of its members up to 2 to 50.
- Restrict the right of members to transfer its shares if any.
- Put a ban on inviting to the public to subscribe for any shares in or debentures of the company.
- Prohibits any invitation or acceptance of deposits from persons other that its members, directors or their relatives.
- Must have a minimum paid up share capital of one lakh rupees.
- It is important that all the above said condition should be in order to remain a private company: If any one of the condition is not fulfilled by the company, shall be considered as public company. In the case of private company is a limited company, then it must add the words ‘Private Limited’ at the end of its name. A private company may be a company limited by shares or a company limited by guarantee or an unlimited company.
Merits
- Large Capital
- Democratic Management
- Transferability of shares
- Limited Liability
- Expert Services
- Relief in Taxation
- Public confidence
- Scope for Growth and Expansion
FAQs
Can Private Limited Companies attract Foreign Direct Investments
Yes. private limited companies are eligible for attracting foreign direct investments in compliance with the relevant laws and regulations.
Can a foreign national become a director in a Private limited company
Yes. Even a foreign national can become a director in a private limited company.