Private Limited Companies is a popular form of business in India. It is governed by Companies Act, Rules and MCA.

Prerequisite to start a Private Limited Company:

1. Minimum 2 Shareholder

2. Minimum 2 Directors

Benefit is Private Limited Company:

1. Separate Legal Entity

2. Limited Liability of its Members

3. Borrowing Capacity

4. Ownership on property held

5. Perpetual Succession

Company Incorporation Procedure:

Step 1: Check Name availability of Company. Company name should be unique and should be approved as per Company law. It should not match with any existing Company/ LLP/ Trademark.

Step 2: Apply for DSC- every director of the company should have a valid DSC provided by certified Authority.

Step 3: Once the name is decided, file RUN Form with ROC for the approval of name along with a fee of Rs 1000/-

Step 4: After Name is approved by MCA, next step is filing of SPICE form along with E-MOA and E-AOA.

With the new SPICE form-

  • 3 DIN can be applied by filing 1 Spice Form
  • PAN/TAN of Company will also be applied through Spice Form
  • No need to attach Physical Copy of MOM, AOA.

Attachments to Spice Form-

  • e-MOA & e-AOA required to be file as linked form.
  • INC-9 Affidavit and declaration by first subscriber(s) and director(s)
  • DIR-2 declaration from first Directors (along with Copy of Proof of Identity and residential address.)
  • NOC from the owner of the property.
  • Proof of Office address (Conveyance/ Lease deed/ Rent Agreement etc. along with rent receipts);
  • Copy of the utility bills (not older than two months)
  • Declaration from the director non acceptance of Deposit.
  • In case of subscribers/ Director does not have a DIN, it is mandatory to attach: Proof of identity and residential address of the subscribers

Post Incorporation Requirement:

1. Appoint an Auditor within 30 days of Incorporation and file form ADT-01 with ROC.

2. Every Company is required to hold minimum 4 Board meetings in a year. For small companies, One Person Company the requirement for Board meeting is reduced to 2.

3. Every Company is required to hold 1 AGM in 1 calendar year or within 6 month from date of closure of Financial Statements.

4. Filing of Annual Returns within 60 days of holding an AGM in Form MGT-07.

5. Filing of Balance sheet, Income Statement, Director’s report within 30 days of holding an AGM in Form AOC-04.

For any Queries or Help, One can reach the Author at [email protected]

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Qualification: CA in Practice
Company: N/A
Location: hyderabad, Telangana, IN
Member Since: 07 Apr 2018 | Total Posts: 4

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June 2021