Private Limited Company

Prof. Haney - “A company is artificial person created by law, having separate entity, with perpetual scission and common seal.”

1. What is private Limited Company?

Private company - means a company having a minimum paid-up share capital as may be prescribed, and which by its articles,—

a. Restricts the right to transfer its shares;

b. Limits the number of its members to two hundred

c. Prohibits any invitation to the public to subscribe for any securities of the company;

2. Nature of Private Limited Company

a. Corporate personality

b. Company is an artificial person

c. Company is not a citizen

d. Company has Nationality and Residence

e. Limited Liability

f. Perpetual Succession

g. Separate Property

h. Transferability of Shares

i. Capacity to Sue and Be Sued

3. Advantages of Pvt Ltd Company

a. Limited risk to personal assets

b. Raising Capital

c. Trustworthiness

d. Continue Existence

4. Procedure of incorporation of Pvt Ltd.

a. Filing of Application for Reservation of Name

b. Obtaining Digital Signature Certificates

c. Preparation of Incorporation Documents including MOA AND AOA

5. Documents required

a. Pan Card (Compulsory), Aadhar Card / Driving license / Passport / Voter ID, any one

b. Copy of Address Proof (Bank Statement/Electricity Bill / Telephone Bill / Mobile Bill, any one) of First Directors and subscribers.

c. Utility Bill (Not older than 2 Months) of the premises where registered office of the company is to be situated such as Electricity Bill / Water Bill / Gas Bill etc.