A private limited company, or LTD, is a type of privately held small business entity. This type of business entity limits owner liability to their shares, limits the number of shareholders to 50, and restricts shareholders from publicly trading shares.
Features of Private Limited Company:
Types of Private Limited company
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Minimum Requirement of a Private Company:
Minimum Requirement of a Public Company:
Step by step incorporation procedure
|1||Obtain Digital Signature Certificate (DSC)||Obtain a Digital Signature Certificate from authorized DSC issuing authority.|
|2||Obtain Director Identification No. (DIN) [S.153]||Make Application in Form DIR-3 [Rule 9 of Chapter XI Rules]|
|3||Register DSC in the name of Director on MCA portal|
|4||Apply for Reservation of Name [S.4(4)]||Application in Form No. INC.1 [Rule 9]. The same shall be reserved for a period of 60 days|
|5||Drafting and Printing of Memorandum and Articles of Asociation|
|6||Filing of INC -7, DIR 12 & INC 22Adoption of Memorandum of Association [S.4(6)]Adoption of Articles of Association [S.5(6)]||Discussed Later|
|7||Commencement of business [S.11]||Mandatory to file Declaration with ROC in Form No. INC.21 [Rule 24]|
|8||Registered Office [S.12]||A company shall have a registered office within 15 days of Incorporation and it shall file Form No.INC.22 [Rule 25] to verify the same|