Document required for Private Limited Company Registration in Madurai

Document required for private limited company registration in Madurai

Private Limited Registration can be a popular choice for start-up businesses in India by businesses with high growth aspirations and start-ups. The private limited company is incorporated under the Business Act 2013, and is governed by the Ministry of Corporate Affairs (MCA). This is a registered corporate structure that gives the business a separate legal identity from its owners. Hence, the ability to accept its own name, and provide the same major benefits as protecting the owners’ personal property from business obligations. Here, we discuss about the topic on Document are required for Private Limited Company Registration in Madurai. Here a clear note about this topic below.

About Private Limited company Registration in Madurai

Private Limited company Registration in Madurai means a corporation incorporated as an individual company as per Section 6 () 68) of the Companies Act, 201 of. The individual company has 200 members in addition to its former employees and present employees. Two persons who jointly share are treated as one member. An individual company cannot invite the general public to subscribe for its shares.

A private company is called “Private Limited” or “Pvt. Ltd.” at the top of its name. An individual company must have at least two members and two directors. A private company has the right to issue debentures to a number of individuals.

A private limited company Registration in Madurai is prohibited for transfer of its shares but according to the pre-company clause, if a member of an individual company wants to transfer his shares, such shares are first given to the existing member of the company, if the existing members are not able to transfer such shares otherwise provided in the article. It is often offered to an outsider until it arrives. The price of such shares will be determined by the corporate director and according to the price formula given in the article.

Both private limited company and LLP have two constitutions. However, companies offer some key benefits, especially for start-ups. Corporate ownership is defined by the share capital of a share, which is more direct for a transfer than a transfer of ownership in an LLP. Also, it clearly separates management and ownership. Therefore, it is preferred by VCs, angel investors and banks to provide debt or equity funding.

Document required:

PAN card

PAN card of shareholders and directors.

Proof of identity

Aadhaar card and voter ID / passport / driver’s license of shareholders and directors.

Proof of address of the director

Statement of latest phone bill / electricity bill / account verification shareholders and directors.

Photograph

Latest passport size photographs of shareholders and directors.

Proof of business address

The latest electricity bill / phone bill of the registered. Fee address

NOC from the owner.

No Objection Certificate from Owner (s) of Registered Office Fees

Rental agreement

Rental agreement of registered office fee should be given if any.

Benefits:

Limited risk to private limited company shareholders non-public assets. Is in debt. This indicates that as a shareholder you are only sensitive to the extent to which you have contributed to the purchase of company liability.

2. Legal Entity A PLC gives you a separate legal entity. This indicates that the corporate is responsible for the management of its assets and liabilities, debtors and creditors. And you are not responsible for it. Therefore, creditors cannot proceed to recover the cash you have.

A. Although the registration of a PLC comes with capital compliance requirements, it is preferred by the entrepreneurs as it helps in raising funds through equity, expanding and at the same term of liability.

India. Trusted companies in India are registered with the Registrar of Companies under the Companies Act. The small print of any corporate can be checked by the Ministry of Corporate Affairs (MCA). Also, details of all managers are provided when forming a corporate. Hence the structure of PLC type business is more reliable.

Continue. Continue to exist The Corporation has a ‘permanent successor’, which will continue to exist until it is legally dissolved. A company, being a separate legal entity, is not affected by the death or termination of any member, but survives regardless of the change in membership.

Reason for Registering a Private Limited Company in madurai

Separate the legal entity

By law, a corporation is a man-made judicial entity established under the Business Act. A corporation may be a separate legal entity from its director and shareholders. Therefore, the corporation enjoys extensive legal capacity, should have assets and be in debt – while the individual members of the company take no responsibility towards the company’s creditors for the payment of debts.

Permanent succession

Permanent succession means to continue or survive forever. A corporation is considered to be legally active unless it is provoked by its members through a legal process. Therefore, the perpetual succession indicates the continued existence of an organization or company until it is legally dissolved. Thus, the Corporation is not affected by the death or departure of any member.

Limited liability

Limited liability partnership registration in madurai may be limited liability. The liability of the members in respect of the debts of the company is limited i.e.is limited to the face value of the shares purchased by them. Usually the managers of the corporation – who are responsible for the management of the corporation – do not usually afford this debt protection.

Transfer of shares

Personal Limited’s ownership is determined by the amount of shares held by its shareholders. The shares of the corporation are often transferred to another person or to a legal entity in India or abroad, subject to the articles of association of the corporation and therefore the shareholders enter into an agreement. Direct transfer of shares is a high reason, the entrepreneur prefers to register a corporation.

Owning Assets

A company can acquire, own, transfer any sort of tangible or intangible in India. A shareholder isn’t eligible to say the company’s property, as they’re not owners of the corporate. A shareholder merely has an interest within the company arising under the articles of association of the corporate, measuring a sum for liability.

Equity Raising

A company registration in madurai is that the only sort of legal entity which may help the promoters raise equity funding from Angel Investors, Private Equity Firms and therefore the stock market. A personal Ltd. would suffice for raising equity funds from Angel Investors and personal Equity Investors. Just in case of listing or allotment of shares to quite 200 shareholders, a Ltd. would be required.