A Private Limited Company offers limited liability and legal protection to its shareholders. A Private Limited Company in India lies somewhere between a partnership firm and a widely owned public company. It can be registered with a minimum of two people. A person can be both a director and shareholder in a Private Limited Company.
The liability of the members of a Private Limited Company (PLC) is limited to the number of shares held by them. A Private Limited Company in India can begin with operations after getting the Certificate of Incorporation. A PLC can be incorporated within 15 working days.
Steps to be taken to get a new company incorporated:
Registration of a Pvt Ltd Company in India is complete an online process. Recently the MCA has replaced the earlier SPICe form with a new web form called SPICe+ (SPICe Plus). Hence, Incorporating a Private Limited Company is even easier now
Do not miss about filing Form INC 20A once you start your company.
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No minimum capital is required to form a Private Limited Company. A Private Limited Company can be registered with a mere sum of Rs. 10,000 as total Authorized Share capital.
A Pvt Ltd Co. is a separate legal identity in the court of the law, meaning assets and liabilities of the business are not same as the assets and liabilities of the directors. Both are counted as different.
If the company undergoes financial distress because of whatsoever reasons, the personal assets of members will not be used to pay the debts of the Company as the Liability of the person is limited.
A Private Limited Company in India is the only form of business except Public Limited Companies that can raise funds from the Venture Capitalists or Angel investors.
In private Limited Company, 100% Foreign Direct Investment is allowed that means any foreign entity or foreign person can directly invest in a Private Limited Company.
The particulars of the company are available on a public database. Which improves the credibility of the company as it makes it easy to authenticate the details
