Private Limited Firm Company Registration
What is included in Private Limited Company Registration package?
Private Limited Firm Company Registration
What is Private Limited Company?
Private Limited Company registration is the most popular legal structure option for businesses in India. A private limited company can have a minimum of two members and a maximum of fifty members. The directors of a private limited company have limited liability to creditors. In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors. If you want to start a company in India then make sure your company is registered as Company Registration should be your first priority. It is very important to register your company as a registered company have multiple advantages from easy to register to easy to dissolve.
Start-ups and growing companies prefer private limited company as it allows outside funding to be raised easily, limits the liabilities of its shareholders and enables them to offer employee stock options to pull in top talent.
Process to Registered or Start Company Private Limited Company
To register a company, you need to first apply for a Director Identification Number (DIN) which can be done by filing e-Form for acquiring the DIN. You would then need to acquire your Digital Certificate and register the same on the portal. Thereafter, you need to get the company name approved by the Ministry. Once the company name is approved, you can register the company by filing the incorporation form depending on the type of company
Step 1 : Application For DIN
The concept of a Director Identification Number (DIN) has been introduced for the first time with the insertion of Sections 266A to 266G of Companies (Amendment) Act, 2006. As such, all the existing and intending Directors have to obtain DIN within the prescribed time-frame as notified.
You need to file eForm DIN-1 in order to obtain DIN.
Step 2 : Acquire/ Register DSC
The Information Technology Act, 2000 provides for use of Digital Signatures on the documents submitted in electronic form in order to ensure the security and authenticity of the documents filed electronically. This is the only secure and authentic way that a document can be submitted electronically. As such, all filings done by the companies under MCA21 e-Governance program are required to be filed with the use of Digital Signatures by the person authorized to sign the documents.
Step 3 : New User Registration
To file an eForm or to avail any paid service on MCA portal, you are first required to register yourself as a user in the relevant user category, such as registered and business user.
Once the form has been approved by the concerned official of the Ministry, you will receive an email regarding the same and the status of the form will get changed to Approved.
Step 4 : Incorporate a Company
Apply for the name of the company to be registered by filing Form1A for the same. After that depending upon the proposed company type file required incorporation forms listed below.
Form 1 : Application or declaration for incorporation of a company
Form 18 : Notice of situation or change of situation of registered office
Form 32 : Particulars of appointment of managing director, directors, manager and secretary and the changes among them or consent of candidate to act as a managing director or director or manager or secretary of a company and/ or undertaking to take and pay for qualification shares
Steps for company formation in INDIA.
Covering the various States and Union Territories in India, Registrars of Companies (ROC) in India are appointed under Section 609 and are vested with the principal duty of registering companies established in the respective States and Union Territories. These offices maintain all the records pertaining to the companies registered with them. These records are made available for the public for inspection on payment of a prescribed fee.
The principal tasks of the Registrars of Companies extend into Company Incorporation, name change, change of financial year, conversion of companies from Private to Public and vice versa, striking off of the names of companies, and default action against companies.