A Private Limited Company is one of India’s most popular business structures, and its incorporation is now made easy with the assistance of PEAK Business Consultancy Services, an expert advisor in the incorporation procedures with the Ministry of Corporate Affairs (MCA) and its sub-division Registrar of Companies (ROC). In India, legal and industrial experts recommend the private limited company format for startups. Many new startups choose to incorporate as private limited companies due to the ease of sourcing capital investments from indigenous and foreign investors. The Ministry of Corporate Affairs (MCA) has simplified the incorporation procedures of companies in India to promote startup growth. The Registrar of Companies (ROC) also provides good surveillance of the legal compliance of companies registered under the MCA, transparency in the book of accounts, investment-friendly legal attributes, and a solid corporate structure given by the Companies Act 2013, making private limited company incorporation more attractive and recommended to investors.
A private limited company is formed with Authorized Capital, and its incorporation is regulated by The Companies Act 2013 (previously The Companies Act 1956). As the name suggests, this company provides limited liability to its shareholders. Every shareholder’s liability towards the company is limited to their interest or shareholding proportion unless they give a personal guarantee as a director or any other responsible position in the company management. There are no minimum authorized capital / paid-up capital requirements in India to start a Private Limited Company, which was previously fixed at Rs. 1 lakh. Two shareholders and directors are the minimum required for Private Limited Company incorporation. As a separate legal entity, Private Limited Companies must comply with all legal formalities with the Registrar of Companies, with the directors being responsible for maintaining all legal compliances with RoC.
Ourtaxpartner.com, an expert group of professionals with 12 years of experience in the industry, has established professional partnerships with competent authorities and legal experts to facilitate the incorporation and legal procedures of private limited companies in India. We specialize in company incorporations with the Ministry of Corporate Affairs (MCA), providing legal advisory services on company laws and rules, capital advisory on issues such as share capital allotment and transfer, and ensuring compliance with all legal requirements under the Companies Act 2013 or any previous Acts with the Registrar of Companies (ROC). We understand that ultimate responsibility for legal compliance rests with the company’s directors, and we assist them in fulfilling this responsibility and making their companies legally compliant. Our expertise in company incorporations, legal matters, investments, and business management adds value to our clients.
There are several reasons why one might consider choosing Ourtaxpartner.com for incorporating a Private Limited Company in India:
Expertise: Ourtaxpartner.com has a team of experts who are well-versed in the legal and regulatory requirements of incorporating a Private Limited Company in India. They can guide you through the entire process and ensure that all the necessary steps are taken to set up your company in compliance with Indian laws and regulations.
Affordable: Ourtaxpartner.com offers competitive pricing for its services, making it a cost-effective option for entrepreneurs and small business owners who are looking to set up a Private Limited Company in India.
Efficiency: Ourtaxpartner.com has a streamlined process for incorporating a Private Limited Company, which can save you time and hassle. They use modern technology to simplify the process and provide efficient services to their clients.
Support: Ourtaxpartner.com provides ongoing support to its clients even after the incorporation process is complete. They can assist with annual compliance requirements, legal and financial issues, and other matters related to running a Private Limited Company in India.
Overall, Ourtaxpartner.com can be a good choice for those who want to incorporate a Private Limited Company in India, because of our expertise, affordability, efficiency, and ongoing support.
Ourtaxpartner.com offer a variety of services to help you incorporate your Private Limited Company, including:
Our pricing is transparent and competitive. We believe in providing our clients with affordable solutions, without compromising on the quality of our service. Contact us today to get a quote.
Address and Identity proof as : – 1. ) Passport 2. ) Driving License, Residence Card, Bank Statement, and Government issued form of identification containing an address.
Name Reservation
Incorporation Form Filing
AoA, MoA & Certificate of Incorporation
e-PAN / TAN/ ESI & EPF Code
2 DIN
2 DSC – Class 3 ( 2 Years)
Dedicated Professional Advisory
Price Inclusive of GST
Applicable Govt. fees need to pay as Extra
Name Reservation
Incorporation Form Filing
AoA, MoA & Certificate of Incorporation
e-PAN / TAN/ ESI & EPF Code
2 DIN
2 DSC – Class 3 ( 2 Years)
Commencement of Business ( Form INC 20A)
GST Registration
MSME / Udyam Registration
Dedicated Professional Advisory
Price Inclusive of GST
Applicable Govt. fees need to pay as Extra
Name Reservation
Incorporation Form Filing
AoA, MoA & Certificate of Incorporation
e-PAN / TAN/ ESI & EPF Code
2 DIN
2 DSC – Class 3 ( 2 Years)
Commencement of Business ( Form INC 20A)
GST Registration
MSME / Udyam Registration
GST and ROC Filings ( First Year)
Dedicated Professional Advisory
Price Inclusive of GST
Applicable Govt. fees need to pay as Extra
Payment Terms :
In all Plans, Payment must be done in Advance.
All plans applicable only for Two Key Persons, Additional Persons will charge Rs. 2,000/- extra ( Price Includes One DSC).
Govt. fees will vary depends upon the States you choose for Company Incorporation, So, the price will finalize only after informed the Registered office Address of the Company.
You can use the MCA Online Utility to calculate the applicable Govt. fees
RoC Fees Calculator
Instructions to Use the Utility :
Click on the above Link " RoC Fees Calculator "
Choose Company >>>>> Click Select Form >>>>> From the Drop down Choose SPICE + ( INC-32)
Put the Purpose of Filing as Incorporation of OPC / Small Company >>>>> Put the Authorized capital as planned (Amount in Figures) >>>>> and choose the State to Register and Click on Calculate Fees
Registrar of Companies (RoC) under the Ministry of Corporate Affairs is the statutory body responsible for company incorporation’s in India. All the companies registered in India will come under the Companies Act 2013. The Central government has simplified the company incorporation procedure in India to promote investments and develop the Indian Economy. Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), with eMoA (INC-33), eAOA (INC-34), is the default option, and most companies are required to be incorporated through SPICe only.
A chartered accountant, Company secretary, Cost accountants, and advocates can incorporate a company in India.
The liability of shareholders is limited to the investment of shareholders in the Company.
The authorized capital of a company is the maximum amount of share capital that the company is authorized by its constitutional documents to issue to shareholders. Part of the authorized capital can remain unissued. The authorized capital can be changed with shareholders’ approval.
Paid-up capital is the amount of money a company has received from shareholders in exchange for shares of stock. Paid-up capital is created when a company sells its shares on the primary market directly to investors.
The major legal documents of a Private company are:-
“In terms of the Companies Act, 2013 ‘company’ means a company incorporated under the Act, or under the previous company law” [Sec. 2(20)].
“A company may be an incorporated company, a Corporation, or an unincorporated company. An incorporated company is a single and legal (artificial) person distinct from the individuals constituting it. In contrast, an unincorporated company, such as a partnership, is a mere collection or aggregation of individuals. Therefore, unlike a partnership, a company is a corporate body and a legal person having status and personality distinct and separate from that of the members constituting it.”
Independent corporate existence: The outstanding feature of a private limited company is its independent corporate existence. It is a distinct legal person existing independent of its members. By incorporation under the Act, the company is vested with a corporate personality distinct from the members who compose it.
Limited Liability Protection: A Pvt Ltd company is a separate legal entity from its owners, which means that the owners are not personally liable for the company’s debts or legal issues. The liability of the shareholders is limited to the amount they have invested in the company. The privilege of limited liability for business debts is one of the principal advantages of doing business under the corporate form of organization. Where the subscribers exercise the choice of registering the company with limited liability, the members’ liability becomes limited or restricted to the nominal value of the shares taken by them or the amount guaranteed by them. No member is bound to contribute anything more than the nominal value of the shares held by him.
Limited Number of Shareholders: A Pvt Ltd company can have a minimum of two and a maximum of 200 shareholders. The company can also have a minimum of two Directors.
Minimum Share Capital: Before the introduction of the Companies Act 2013, a minimum authorized and paid-up capital of Rs. 1 lakh was required to incorporate a Private Limited Company (Pvt Ltd) in India. However, after the introduction of the Act, this minimum capital requirement has been removed, making it easier and more affordable for entrepreneurs to start their businesses. Therefore, the law now accurately states that there is no minimum capital requirement to incorporate a Pvt Ltd company under the Companies Act 2013, whereas previously there was a requirement of Rs. 1 lakh.
Perpetual succession: An incorporated company never dies. It is an entity with perpetual succession. Perpetual succession means that the membership of a company may keep changing from time to time, but that does not affect the company’s continuity. The death or insolvency of individual members does not, in any way, affect the company’s corporate existence.
Separate Legal Entity: A Pvt Ltd company is considered a legal entity, which means that it can own property, enter into contracts, and file lawsuits. A company, being a legal person, is capable of owning, enjoying, and disposing of property in its name. The company becomes the owner of its capital and assets. The shareholders are not the several or joint owners of the company’s property. The company is the real person in which all its property is vested and by which it is controlled, managed, and disposed of.
Separate Management: The shareholders of a Pvt Ltd company are not directly involved in the day-to-day management of the company. The company is managed by a board of directors, who are elected by the shareholders.
Restricted Ownership: A Pvt Ltd company has restrictions on the transferability of its shares. The shares cannot be freely traded on the stock exchange, and they can only be sold or transferred with the consent of the other shareholders.
Annual Filing Requirements: A Pvt Ltd company is required to file annual returns and financial statements with the Registrar of Companies in the country where it is incorporated. The various regular forms that need to file with the Registrar of Companies are AOC 4, MGT 7 ( MGT 7A for Small Companies), ADT 1, DPT 3, and DIR 3 KYC.
Overall, a Pvt Ltd company is a popular business structure for small and medium-sized businesses as it provides limited liability protection to its shareholders, allows for restricted ownership and separate management, and is considered a legal entity.
According to Section 464 of the Companies Act, 2013, no association or partnership consisting of more than such number of persons (i.e., not exceeding 50 as per Rule 10 of Companies (Miscellaneous) Rules, 2014) shall be formed to carry on any business that has for its object the acquisition of gain by the association or partnership or by the individual members thereof unless it is registered as a company under this Act or is formed under any other law for the time being in force:
Above stated provision shall not apply to
Every member of an association or partnership carrying on business in contravention of the above the law shall be punishable with a fine which may extend to one lakh rupees and shall also be personally liable for all liabilities incurred in such business.
Section 7 of the Companies Act 2013 provides for the procedure to be followed for the incorporation of a company.
I ) Filing of the documents and information with the Registrar: For the registration of the private limited company required the following documents and information to be filed with the Registrar within whose jurisdiction the registered office of the company is proposed to be situated:
a) the memorandum and articles of the company duly signed by all the subscribers to the memorandum.
b) a declaration by a person who is engaged in the formation of the company (an advocate, a chartered accountant, a cost accountant, or company secretary in practice) and by a person named in the articles (director, manager or secretary of the company), that all the requirements of this Act and the rules made there under in respect of registration and matters precedent or incidental to it have been complied with.
c) a declaration from each of the subscribers to the memorandum and persons named as the first directors, if any, in the articles stating that:
i) he is not convicted of any offense in connection with the promotion, formation, or management of any company or.
ii) he has not been found guilty of any fraud or misfeasance or breach of duty to any company under this Act or any previous company law during the last five years.
iii) and that all the documents filed with the Registrar for company registration contain information that is correct, complete, and true to the best of his knowledge and belief.
d) the address for correspondence till its registered office is established, for which 30 days is allotted after incorporation.
e) the particulars (names, including surnames or family names, residential address, nationality) of every subscriber to the memorandum along with proof of identity, and in the case of a subscriber being a body corporate, such particulars as may be prescribed.
f) the particulars (names, including surnames or family names, the Director Identification Number, residential address, nationality) of the persons mentioned in the articles as the first directors of the company and such other particulars including proof of identity as may be prescribed, and
g) the particulars of the interests of the persons mentioned in the articles as the first directors of the company in other firms or bodies corporate along with their consent to act as directors of the company in such form and manner as may be prescribed.
II) Issue of certificate of incorporation on registration: The Registrar, based on documents and information filed, shall register all the documents and information in the register and issue a certificate of incorporation in the prescribed form to the effect that the proposed company is incorporated under this Act.
III) Allotment of corporate identity number (CIN): On and from the date mentioned in the certificate of incorporation, the Registrar shall allot to the company a corporate identity number, which shall be a distinct identity for the company and which shall also be included in the certificate.
Helping the learner’s to understand the detailed step-by-step incorporation procedures of a Private Limited Company in India with the Ministry of Corporate Affairs ( MCA). Describe the procedures with the help of infographics then that beginners can understand them easily. PEAK Business Consultancy Services is committed to updating and publishing the information for the learner’s community.
PEAK Business Consultancy Services is one of the leading consultants assisting in registering businesses in Kerala. We assist over 100 entrepreneurs in registering their establishments as Private Limited Companies. Registration of a Private Limited Company is a 100 % online procedure so that consultants can do it anywhere.