What is the Private Limited Company?
The Companies Act, 2013 defines a private
limited company as a company whose article of association restricts the
transferability of shares and prevents the public from subscribing to them.
This is a distinct feature that differentiates private limited companies from
other types of public companies. This article discusses what a private limited
company is, explores the various types of private limited companies and learns
how to start one. Section 2 (68) of The Companies Act, 2013 defines a private
limited company as a separate entity that is held privately and provides
limited liability. In a private limited company, all business profits and
liabilities belong to the company itself and stakeholders may not be
responsible for debts incurred by the company.
Company Registration in Chennai city?
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the proposed director. At the same time a name approval request is made to the
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entire partner must sign all documents. After submitted the documents ROC
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Documents required for Company Registration in Chennai city
Private limited company required the following documents to set
them into private limited company:
· Memorandum of association
· Article of association
· Certificate of incorporation
· Other documents
Memorandum
of association: A corporate document
is a charter of the company that defines the company's relationships with
shareholders and its goals. It outlines the purpose of setting up a business,
the nature of the business, the objective of the company, and the capital
clause.
Article
of association: The document explains
the internal operating system of the company, including the managing process,
duties and responsibilities of each member, dividend policy, shareholder
meetings and appointment of directors.
Certificate
of incorporation: The ROC is the
primary document of authentication of a company, issued by the Registrar of
Companies (ROC) after submitting all required documents for registration.
Other
documents: Other documents
include ID proof, address proof, rental agreement, NOC from property owner, and
copy of sale deed for all directors and shareholders of the company.