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private limited company is a company which is privately held for small businesses. The liability of the members of a Private Limited Company registration in Chennai  is limited to the amount of shares respectively held by them. Shares of Private Limited. To start a company, a minimum number of 2 members are required and a maximum number of 200 members as per the provisions of the Companies Act, 2013. It must have a minimum paid-up capital of Rs 1 lakh or such higher amount which may be prescribed from time to time.

Step for Registering Pvt Ltd Company

Application of DSC & DPIN

First of all, the partners have to apply for Digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.

Name approval

You need to provide 3 different options for your company name to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.

MOA & AOA submission

Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement and

Get incorporation certificate

It typically takes 15- 25 days to form a Private limited company and get the incorporation certificate. Incorporation certification is a proof that company has been created. It also includes your CIN number.

Apply for PAN, TAN and Bank account

Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.

Documents Require For Registering Pvt Ltd Company
  1. All of the company’s directors and shareholders must provide proof of identification and this can basically include the PAN Card or Aadhar card or Driving license or Passport.
  2. All of the company’s directors and shareholders must provide a proper proof of address which can include, latest telephone bill or electricity bill or bank account statement.
  3. Tenancy or the rental agreement, as well as a letter or NOC from the landlord which is approving the use of the office as the company’s registered office should also be provided for the registration of the Private Limited Company in Chennai.
  4. All directors must have a DIN which is the Director Identification Number and this is mandatory.
  5. They should also have a DSC or the Digital Signature Certificate taken in their names.
Benefits for Registering Pvt Ltd Company

1. Legal Entity

A Private Limited Company is a legal entity that is distinct from you or the owners. This means that the Company is in charge of its assets and obligations, as well as its debtors and creditors. You or the owners will not be held liable on a personal level or with personal assets for the business’s losses. As a result, creditors will be unable to pursue you for payment in case of a business which is registered in Chennai as a Private Limited Company.

2. Raising Capital

Despite the fact that forming and registering a Private Limited Company in Chennai entails more compliance requirements, entrepreneurs choose it since it allows them to raise cash through stock, expand, and restrict their responsibility.

3. Lower risk to Owners Personal Assets

Shareholders in a private limited company in Chennai are only liable to the extent of their investment. This means that as an owner or shareholder, you will only be responsible for the company’s liabilities to the degree of your personal contribution. Because the shareholders shall not be holding any personal liability, they are not required to pay the company’s liability out of their own funds.

4. Possibility of Perpetual Succession

A business or a private limited company registered in Chennai has ‘perpetual succession,’ which means it will continue to exist until it is lawfully dissolved. Because a corporation is a separate legal person, it is not shaken and would be unaffected by the death or termination of any of its members, and it continues to exist regardless of membership changes.

5. Reliability and Trustworthiness

Under the Firms Act 2013, companies in Chennai are registered with the Registrar of Companies (ROC). And it is the Ministry of Corporate Affairs (MCA) portal which allows anybody to check the company’s data. During the formation of the Private Limited Company in Chennai, all of the directors’ information is also submitted. As a result, a Private Limited Company structure is more trustworthy and also reliable.

FAQS OR Frequently Asked Questions
Minimum 2 directors and 2 shareholders are required for company registration. The directors and the shareholders can be a same person. Directors and shareholder can be different people too. Even companies or LLPs can be the shareholder of the company.
Yes company can be registered at residential or commercial address. You need to have a electricity bill and the NOC of the owner. The company cannot be registered at the virtual address.
As per the government rules you can be a director even if you are a employee.But you need to check your employment agreement to see if your company policy allows you to be a director

Yes anyone can a be a director in the company if he meets the following conditions:

  1. Age should be more than 18 years
  2. Not criminally prosecuted
  3. Of sane mind
  4. Not bankrupt
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