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Private limited company is the most popular type of business entity in India. More than 20 lakh companies have been registered in India by October 2020 and 12 lakh companies are classified as active. All companies registered in India are governed by the MCA (Ministry of Corporate Affairs) under the Companies Act, 2013.
Every year Tax clinic helps thousands of companies register across India. Company registration process can be completed online at the tax clinic in less than 10 days with the help of experienced registration
experts.
Entrepreneurs register a company in India to build a business that is well regarded by customers, suppliers, bankers and the government. By establishing a company, an entrepreneur has the ability to build a small or large business that can easily grow capital and scale to any size.
The ownership of a company is represented by shares. Thus, the ownership of a company can be shared or transferred to any other Indian or Foreign legal entity or person. The directors of a company are also easily replaceable. Hence, on a company allows an Entrepreneur to easily raise capital and transfer ownership without any hassles.
A private limited company provides limited liability protection to its shareholders. In case of any unforeseen losses, statutory or legal liabilities, the shareholders of the company will not be held responsible. Only the Directors of a private limited company are held responsible in most instances for various statutory liabilities.
A company can raise equity capital from persons or entities interested in becoming a shareholder. Entrepreneurs can raise money from angel investors, venture capital firms, private equity firms and hedge funds. A company can also raise debt financing from banks, financial institutions and NBFCs easily.
A private limited company is recognized as a separate entity with a dedicated PAN. Using the PAN and incorporation certificate of the company, an Entrepreneur can within days open a current account in any bank.
Minimum no of Person-
- Pubic Company- Seven or more persons, where the company to be formed is to be a public company;
- Private Company- Two or more persons, where the company to be formed is to be a private company;
- One Person Company-one person
Minimum No Of Director-
- Two or more persons, where the company to be formed is to be a private company
- In the case of Private Company, the minimum number of directors shall be two.
- In the case of One Person Company, the minimum number of directors shall be one.
- And for other types of companies, the minimum number of directors shall be required as may be prescribed by law.