Benefits

• The number of Directors can be 2.
• A Director interested in a particular item of business may participate in the discussion.
• A Managing Director may be appointed for a period more than 5 years. There is however no mandatory requirement that the company must have a Managing Director where as a PLC with a paid up capital Rs. 5 cores and above has to have a MD / WTD.
• The complex formulae to he applied to calculate the Net Profits from which an M.D is remuneration is to be calculated is not applicable to a Private Company.

Steps and Process for private limited company registration

1. Make an application to one of the authorities to acquire a digital signature certifi- cate (DSC) for the applicant, one of the promoters/subscribers or for any authorized rep- resentative to provide for secured online interactions with MCA and in compliance with IT Act 2000.

2. File an Integrated e-Form INC_2936, which is now the composite single appli- cation form for reservation of name, a new company registration. The application is assigned for DIN. This e-Form should be accompanied by supporting documents including details of proposed subscribers and directors, MoA and AoA etc.

3. Select, in order of preference, a few suitable names, maximum being six in order of preference, each of which should inform as far as possible the main object of the pro- posed company.

4. The Promoter or applicant of the proposed company shall propose only 'One' Name in the e-Form. Once the e-Form is found to be processed. The company is registered and CIN would be assigned. Also DINs would get issued to the proposed Directors who do not have a valid DIN previously. Maximum three proposed Directors are allowed to be included in this integrated form for allotment of DIN while incorporating the company.

5. The ROC will then scrutinize the documents and the information filed for registration and then register the company and issue the Certificate of Incorporation.

6. The date given by the ROC on the Certificate of Incorporation will be the date of incorporation of the company and on that date, the company will come into being as a separate legal entity.

7. Please note that if you submit to incorporate a private limited company as a subsidiary of a public company, it will be processed as a public company.

8. Please also note that if your proposed company is going to be a credit information company, its authorized capital is minimum Rs. 30 crores, its issued capital is not less than Rs. 20 crores and its minimum paid up capital is not less than 75% of the issued share capital.

Documents to be submitted by Directors and Shareholders

1. Copy of PAN Card (self-attested & attested by gazetted officer)

2. Copy of Voter’s ID/Driver’s License/Passport (self-attested & attested by gazetted officer)

3. Copy of Electricity or Gas Bill /Latest Bank Statement/Telephone or Mobile Bill(self-attested & attested by gazetted officer)

4. Latest Passport Size Photo 2 Copies.

5. Specimen signature

Documents to be submitted by Directors and Shareholders (Foreign Nationals)

1. Passport copy

2. Copy of Driver’s License/Voter’s ID/Passport/

3. Copy of Electricity or Gas Bill/Latest Bank Statement/Telephone or Mobile Bill/

4. Latest Passport Size Photo 2 Copies.

5. Specimen signature

Office Address Proofs

1. Copy of Latest Rental Receipt

2. Copy of Notarized Rental Agreement in English

3. Copy of Latest Bank Statement/ Electricity or Gas Bill/Telephone or Mobile Bill/

4. Copy of Property Deed /Sale Deed in English (in case of owned property)

5. Copy of No-objection Certificate from property owner Regards,