Private Company

In This Modern Era If One Wish To Be An Entrepreneur Then Private Limited Company Is The Best Option To Come Out With A Best Entrepreneurship. Where By There will be less compliances and cost with a lots of benefits. And The Formation of the Company At The very Nominal Cost.

Advantages of Private Limited Company

  • Companies Act Removes Many Restrictions From Private Company’s.
  • Liabilities of Shareholder extends to unpaid p capital.
  • Many Tax benefits.
  • Less Compliances Than Public Company.
  • Company Has A Perpetual Succession.
  • Company May Sue Or Sued On The Name Of The Company.
  • Private Company Easily Arrange The Finance.
  • Procedure Of The Dissolution Of The Company Is Easier Than The Public Company.

Formation Of The Private Limited Company

  • As per Companies Act .
  • Minimum Of Two Directors.
  • No cap on paid up capita.
  • First Acquire Name Through RUN( Reserve Unique Name ).
  • Subscribe MOA And AOA.
  • Form Filing.
  • Applicant Can Apply for Gst Registration (Optional ).
  • Getting Certification Of Incorporation.
  • Also Get The Pan & Tan With Certificate Of Incorporation.

Compliances  by Private Limited Company                                      

  • Hold First Board Meeting Within 30 Days of Incorporation And Minimum 4 Meeting Should Be Held In One Year
  • Hold First Annual  General Meeting  Within 18 Months Of Incorporation And At least one meeting should be held in a year
  • Maintain Books Of Accounts At Registered Office Of The Company
  • Maintain Minutes Of The Meeting.
  • File Annual Return within the 60 Days of Holding an AGM.
  • Appointment Of Auditor Within 15 Days of Incorporation
  • File Bank Statement Within 180 Days From The date of Incorporations
  • Other Compliances Specified By Act.

Dissolution of the Private Limited Company

  • Company May Apply For Remove The Name Of the Company From The Registrar Of The Company.
  • Registrar May Remove The Name of The Company From The Registrar Of The Company.
  • Winding Of The Company On The Order Of The NCLT (National Company Law Tribunal) .
  • Company Can Not Wind Up Voluntary.
  • Company May Merge or Amalgamated With Another Company After Disposing All The Assets And Liabilities.

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November 2020