All you need to know about planning to start a private limited company

1
All you need to know about planning to start a
private limited company
2

• Before you start a private limited company, you
  need to know the definition of the same. A
  private limited partnership is a company that
  its shareholders own. Private investors own it.
  In this, the liability structure is similar to
  that of a limited partnership, where a
  shareholder's liability is limited to the number
  of shares they own.
• It restricts the freedom to sell the shares
• Even in the case of a Person Corporation, limits
  the number of shareholders to two hundred and
• Bans any public offer to subscribe for the
  Company's securities.
• Documents needed to form such a business.
• The following documents are required for a
  private limited company registration
• PAN card and passport of Indian and international
  directors, respectively, as proof of identity.
• Ration cards, Aadhar cards, driver's licenses, or
  voter ID are
• acceptable forms of identification.
• A bank statement or a premise's utility bill is
  appropriate proof of residence.
• The rental deal that has been notarized
• The property owner's permission is required.
• A copy of the land deed or the sale deed (for an
  owned property)
• How to Form a Private Limited Company (Pvt Ltd)

3
list of such accredited organizations here.
Alternatively, you can get your DSC in just two
days by ordering it online. The price of DSC
varies depending on the certifying agency.

1. Please apply for a DIN (Director Identification
   Number) A director's DIN is a number that
   identifies him or her. Anyone who wishes to
   serve as a director of a corporation must receive
   it. One DIN is sufficient to serve as a director
   in any number of businesses.
2. Apply the name's availability. Creating a
   Corporation Using the RUN (Reserve Unique Name)
   Form The Ministry of Corporate Affairs (MCA)
   has launched the RUN web service for business
   formation. RUN only allows applicants one
   opportunity to apply. There are no second
   opportunities if the name is rejected due to a
   name resemblance with a licensed firm, an LLP, a
   patent, or non- compliance with the Companies
   (Incorporation Rules) 2014. To stop the denial,
   you must be sure of the proposed name and meet
   name availability rules as well as existing
   trademarks. The applicant must submit a new RUN
   form with the required fee.

4

• File the private limited business by filing the
  EMoa and EAOA.
• Request the Company's PAN and TAN.
• RoC will grant a certificate of incorporation
  with a PAN and TAN.
• Open a new bank account in the name of the
  Company.
• All of the Company's customers must sign an
  Affidavit on Stamp Paper stating their desire to
  become shareholders.
• These steps are mandatory for private limited
  company registration.
• You'll be ready to launch your own private
  limited business after you've completed this. It
  is recommended that you meet with the appropriate
  people and make the best decision to ensure
  smooth progress.
• Requirements for being a private limited company
• The Company's Board of Directors must consist of
  at least two adults.
• A minimum of two directors is required, with a
  limit of fifteen.
• An Indian Citizen and Resident must be one of the
  directors of a private limited company.
• A foreign national will be one of the other
  directors.
• A company's shareholders must be at least two
  people.
• Why should you register? Legal Entity in Its Own
  Right

5
Existence without Interruptions The term
"perpetual succession" refers to a company's
continuous life until it is officially
disbanded. As a single legal person, a business
is unaffected by the death or other expulsion of
either of its members, and it continues to
survive regardless of ownership changes. Having
a Home As an artificial being, a corporation may
purchase, possess, enjoy, and alienate property
under its name. A company's property could
include equipment, buildings, intangible assets,
properties, residential property, factories,
etc. As long as the firm remains a going
business, no creditor can claim the Company's
assets. Limitation of Liability Restricted
responsibility means that you are only
technically liable for a certain percentage of a
company's debts. Unlike sole proprietorships and
trusts, the owners' responsibility for the
Company's obligations is limited to the amount
of money they have deposited in the Company.