Private limited company incorporation in India
In India so far the companies which are commonly getting registered are Private limited companies. The highlight for this company type is the liability protection for the members, safety maintenance and also the easy acquire of loan from banks for the business expansion. Here in this article we shall discuss about the formation of a private limited company in Bangalore-India.
What are the basic requirements for the PVT LTD company registration?
Ultimately the members involved in the private limited company should be at least of 2 or more persons lawfully as directors and shareholders. The criteria that satisfies the legal perspective for the PVT LTD can be performed easily, else the registry will refuse the business for the registration reasoning it is illegal. Sometimes the central government will take necessary actions for the cancellation directly.
Steps for the Private limited company registration
- Get DSC( Digital Signature Certificate)
- Get DIN (Director Identification Number)
- Obtain the name approval from the registry
- Finally make the incorporation certificate
Step 1 and Step 2
DSC and DIN are important for the directors involved in the business to make sure the individuals are the proposed directors and shareholders in the company for the application.
Name of your company should be suitable for the business and also it will end with Private limited. In order to avoid the replication of company name in the database our expert help you to know the name availability in the required class. There are requirements to be satisfied by the “Emblems and names Act”. So once the name suggested is available as unique then the name approval can be performed by the registry within 5 days of time at the maximum from the applied date.
It is the final phase of company incorporation by submitting the required documents to the registrar along with the application
- Memorandum of Association and Articles of Association –Draft and submit
- A declaration and Affidavit from the directors– It is issued by an advocate of Supreme Court or high court or a secretory or CA (Chartered Accountant) who is engaged in the company registration.
At this stage a notice is availed for the company registration during the company incorporation. Finally the company incorporation subscription is preceding by signing the name and enable the shares by signing MOA in the presence of any witness. Articles of association is also required to sign up and need to be stamped.