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Private Limited Company is the most prevalent and popular type of corporate legal entity in India. To register a private limited company, two directors are required. Unique features of a private limited company like limited liability protection to shareholders, ability to raise equity funds, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses that are family owned or professionally managed.
It looks like you’ve provided a detailed description of a Private Limited Company in India. Here are a few corrections and clarifications:
Directors and Shareholders:To register a Private Limited Company, you need a minimum of two directors and two shareholders. A person can be both a director and a shareholder.
Governance: The registration is governed by the Ministry of Corporate Affairs (MCA) under the Companies Act, 2013 and the Companies Incorporation Rules, 2014.
Foreign Participation: Foreign nationals, foreign corporate entities, or NRIs can be directors and/or shareholders, which makes it a preferred choice for foreign promoters.
A Private Limited Company is a type of corporate legal entity that offers limited liability protection to its shareholders, has a separate legal entity status, and can raise equity funds.
You need a minimum of two directors and two shareholders. A person can be both a director and a shareholder. Additionally, you need a Digital Signature Certificate (DSC) and a Director Identification Number (DIN).
Yes, foreign nationals, foreign corporate entities, and NRIs can be directors and/or shareholders in a Private Limited Company, making it a preferred choice for foreign promoters.
Limited liability protection, separate legal entity status, perpetual existence, and the ability to raise equity funds are some of the key benefits.
The registration process typically takes 10-15 working days, depending on the submission of required documents and approvals from the Ministry of Corporate Affairs (MCA).
Key documents include the Memorandum of Association (MOA), Articles of Association (AOA), proof of identity and address for directors and shareholders, and proof of registered office address.
The MCA governs the registration and regulation of Private Limited Companies under the Companies Act, 2013, and the Companies Incorporation Rules, 2014.
Yes, a Private Limited Company can be converted into a Public Limited Company by following the procedures laid down by the Companies Act, 2013.
There is no minimum capital requirement for registering a Private Limited Company. However, the company should have an authorized capital as per its business needs.
Compliance requirements include annual filing of financial statements, annual returns, holding board meetings, and maintaining statutory registers.
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