One most popular business entity is private limited, because of its many benefits. Such entity is formulated with a capital of one lakh rupees by minimum two shareholders. The limit for maximum shareholders was recently increased to two hundred presenting more scope of growth for such companies. There are relatively lesser obligations when compared to public limited which is the largest possible entity permitted in the country. For incorporation of a private company, the secretarial services of corporate consultants provide support at different steps.
The first step of registering a company is to obtain DIN & DSC for the persons appointed as directors which may or may not be shareholders of the company. Every legal entity should carry a unique name within the guidelines mentioned by the ROC. Recently, the naming guidelines for companies were made simpler and also the process was put on the fast track to ease the environment for startups. The amendments allow company name different from its objects and also make way for use of abbreviations. The changes simplify the name approval as rejections due to certain differences can be avoided also these changes present added options. The application for name approval contains digital signature of the directors as the process is online. Also, the DSC is essential to obtain as the ministry has made most filings happen online for companies. A name approved is valid only for a period of six months and in case the registration is not completed in this duration fresh application is needed.
It is followed by preparing constitution of the company which is formerly known as the memorandum of association (MOA). This document is critical not only for company incorporation but it holds importance in the existence, as it defines the powers, liabilities, and responsibilities. MOA is carefully documented by lawyers, and the shareholders of the company subscribe to it. The situation of the registered office is also a crucial clause of pvt ltd company registration online, it may or may not be a commercial space. However, NOC from owner of property and recent utility bills as proof of address are needed.
The application for incorporation along with the supporting documents are filed with the register. The information of these documents is scrutinized before issuing the incorporation certificate. Also, a number of post-incorporation compliance need to be completed such as applying for PAN and opening a business bank account.
Corporate CapitalVentures is a consultancy established in New Delhi specializing in secretarial services. It provides a collection of services to help clients create a legal corporate identity. CCV is also known for compliance management, restructuring advisory, securities law advisory, and annual filing services.
Conclusion: Private limited is a corporate entity easy to register with secretarial services of corporate consultants.