Private Limited Registration:

In simple sense, literary meaning of the word ‘Company’ is an association of persons formed for common object.

Le Intellgensia offering services to register a private limited Company and provides fastest service to people who join together to achieve a common business goal.

Private Limited Registration in Bangalore

Easy Steps to Register

Characteristics of Private Limited Company:

Separate Legal Entity

Under Incorporation law, a company becomes a separate legal entity as compared to its members. The company is distinct and different from its members in law.

Limited Liability

The liability of the members of the company is limited to contribution to the assets of the company upto the face value of shares held by him

Perpetual Succession

Membership of a company may keep on changing from time to time but that does not affect life of the company

Separate Property

A company is a distinct legal entity. The company’s property is its own

Transferability of Shares

Shares in a company are freely transferable, subject to certain conditions, such that no share-holder is permanently or necessarily wedded to a company

Common Seal

A company is an artificial person and does not have a physical presence. The common seal is the official signature of the company. The name of the company must be engraved on the common seal

Capacity to sue and being sued

A company can sue or be sued in its own name as distinct from its members

Separate Management

A company is administered and managed by its managerial personnel i.e. the Board of Directors.

One Share-One Vote

The principle of voting in a company is one share-one vote i.e. if a person has 10 shares, he has 10 votes in the company.

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Requirements for forming a Private Limited Registration

  1. A minimum of two adult persons are required to act as Directors of the company.
  2. A private limited company must have a minimum of 2 Directors and can have a maximum of 15 directors.
  3. Two persons are also required to act as shareholder of a company. The shareholders can be natural persons or an artificial legal entity.

Advantages

  1. A private company is easy to form than a public company. Only two members are sufficient to form a private company.

  2. It can start its business immediately after incorporation.

  3. It may pay remuneration to directors and managerial personnel or appoint any one to the office of profits without any restrictions.

  4. As no outsiders are its shareholders it is not required to hold a statutory meeting or file a statutory report.

  5. It may give loan to directors without obtaining consent or approval of the Central Government.

  6. There is a greater flexibility in regard to the management and conduct of the business.

  7. The control and management is generally in the hands of capital owners.

 

Steps to form a Private Limited Company

  • Procure Digital Signature Certificate
  • Obtain Director Identification Number
  • Reservation of Name
  • Certificate of Incorporation

Documents Required

The company’s proposed directors would have to submit the following

Documents:

  1. Id Proof – PAN CARD
  2. ADD Proof – Passport / Drivers License / Election ID / Ration Card / Aadhar ID
  3. Proof of Residence – Bank Statement / Electricity Bill / Phone Bill. This document must be less than 2 months old

Registered Office Proof

  • The registered document of the title of the premises of the registered office in the name of the company; OR
  • The notarized copy of lease / rent agreement in the name of the company along with a copy of rent paid receipt not older than one month;
  • The authorization (NOC) from the Landlord to use the premises by the company as its registered office.
  • Proof of evidence of any utility service like telephone, gas, electricity, etc. depicting the address of the premises in the name of the owner or document, which is not older than two months.

How to Choose a Name for Private Limited Company

  •  The name should be easy to spell and remember.
  • The name shall be able to provide a distinct identity to the company.
  • It should be short & simple.
  • The name should not contain any word as opposed to public policy or prohibited.
  • It should not infringe any Trademark registered nor shall be similar or identical to any company/ LLP registered.

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