Private Limited Company

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A Private Limited Company (PLC) is a company owned by a small group of people. It is registered for specific purposes and controlled by a group of people known as shareholders. A Private Company is a typical company structure for startups and organizations with high development ambitions.

Required Documents

Documents for the Directors:

  • PAN card of the directors
  • ID Proof – Aadhar Card/ Voter Card/ Passport/ Driving License
  • Address Proof – Latest Bank Statement/ Utility bill in the applicant’s name is needed, and must be no more than two months old.
  • Latest Passport Size Photo

Registered Office Address Proof

  • Utility bill (should not be older than two months) / Registry Proof or House Tax Receipt (in case of owned property)
  • No Objection Certificate (NOC) from the owner

What do we get?

  • Digital Signature Certificate (DCS)
  • Director Identification Number (DIN)
  • Memorandum of Association (MoA)
  • Articles of Association (AoA)
  • Incorporation Certificate
  • Company PAN
  • Company TAN

Attributes of Private Limited Company

  • Members: According to the Companies Act of 2013, a minimum of two members and a maximum of 200 members can form a corporation.
  • Limited Liability: Each member’s or shareholder’s liability is confined. It means that if a corporation suffers a loss in any way, its shareholders may get forced to sell their assets to cover the loss. The shareholders’ assets are not in jeopardy.
  • Never-ending succession: The corporation continues to exist in the eyes of the law even if one of its members dies, becomes insolvent, or files for bankruptcy. As a result, the company will continue to exist in perpetuity. The company’s life will remain intact indefinitely.
  • Index of members: A public company has to maintain an index of its members, whereas a private company has a distinct advantage of not getting obliged to keep an Index.
  • Multiple Directors: A private firm requires two directors when it comes to directors. Private businesses can begin operations with the presence of two directors.
  • Paid-up capital: It must have at least Rs 1 lakh in paid-up capital or a higher amount as may be prescribed from time to time.
  • Prospectus: A prospectus is a thorough summary of a company’s affairs issued to the public by the company. A prospectus is not required to be published in the case of a private limited company because the public is not encouraged to subscribe to the business’s shares.
  • Minimum subscription: It is the amount received by the company in exchange for 90 percent of the shares issued over a specific period. If the company does not receive 90% of the funds, it will continue doing business. A private limited corporation can distribute shares to the public without having to meet the minimum subscription requirement.
  • Name: All private firms must include the phrase “private limited” after their name. 

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    Public Limited Company

    A public limited company is an incorporation that has a voluntary group of members who have a separate legal existence and limited liability. A public limited company is listed on a stock market and has its shares/stocks publicly traded.

    One Person Company

    In contrast to private firms, a one-person company has only one shareholder. These businesses enjoy all of the advantages of a private company, including access to financing, bank loans, restricted liability, legal protection, and so on.

    Limited Liability Partnership

    A limited liability partnership (LLP) is a legal entity separate from its members (partners), who are solely liable for the amount of money they invest plus any personal guarantees. The partnership is registered with Companies House and can only get used by firms that make a profit.

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