HMP Legalease Corporate Consultants Pvt. Ltd.

Rohini, Delhi

Documents required

• Copy of PAN Card of directors
• Passport size photograph of directors
• Copy of Aadhaar Card/ Voter identity card
• Copy of Rent agreement (If rented property)
• Electricity/ Water bill (Business Place)
• Copy of Property papers (If owned property)
• Landlord NOC (Format will be provided)

Whats included in package

• DPIN for 3 Directors
• Digital Signature For 3 Directors
• Name search & approval
• MOA/AOA
• ROC registration Fees
• Company Pan and TAN
• Bank Acc Opening Support

Public Limited Company

The Public Limited Company registration, first of all, requires a minimum composition of 7 members and 3 directors. However, the maximum number of directors can be 50, and the maximum number of members is unlimited for the registration of public limited company. The PLC also has limited liabilities for its members and has rights to issue its shares to the general public for raising the capital of the company. For the purpose of public ltd. company registration, the company which is a subsidiary of a public entity shall also be deemed to be public even where such subsidiary company continues to be a private company in its articles.

What is a Public Company?

Section 2 (71) defines a public company under Companies Act 2013, as a company which is not a private company and has the minimum paid-up capital of Rs 5 Lakhs. A PLC is owned by the members which must be minimum 7 in number. Moreover, all the acts of members of the public entity are guided by the Memorandum of Association (MOA) and Articles of Association (AOA).

Documents required

• Passport size photograph of partners.
• Aadhaar Card/ Voter identity card as address proof.
• Copy of PAN Card of partners.
• Rent Agreement (in case of Rented Property).
• Electricity/ Water bill/ Latest bank statement (Office Address)
• Landlord NOC (Format will be provided).

Whats included in package

• Name Search & Approval.
• Digital Signature For 2 Partners.
• DIN For 2 Partners.
• LLP Agreement.
• LLP PAN Card.
• LLP TAN Number.
• Bank Account Opening Support.

Limited Liability Partnership (LLP) Registration

LLP was launched in India by way of the Limited Liability Partnership Act, 2008. The main edge of a Limited Liability Partnership is one partner is not liable for another partner’s misconduct or negligence. LLP is favoured by Professionals, Micro and Small businesses that are family-owned or closely-held.

Limited Liability partnership offers the benefit of limited liability to its owners and at the same time needs minimal maintenance. The owners of a private limited company have limited liability to creditors. In case of default, banks/creditors can only sell the company’s assets and not the personal assets of directors.

Benefits of incorporating a LLP

• Limited Liability : The biggest advantage is Limited Liability, which means the status of being legally responsible only to a limited amount for debts of a LLP. Unlike proprietorships and partnerships, in a LLP the liability of the members in respect of the LLP’s debts is limited. The personal assets of the directors are safe if the company goes bankrupt.
• Owning Property : An LLP being a juristic person, can acquire, own and enjoy property in its own name. And this is entirely distinct from its partners. No Partner can make any claim upon the property of the LLP so long as the LLP is a going concern.
• Easy Transferability : The ownership of a LLP can be easily transferred to another person. All you need is to induct them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing Partners, so by changing the Managing Partners, the ownership of the LLP can be changed.
• Audit not Required : Entrepreneurs earning a turnover of less than 40 Lakhs and capital contribution of less than 25 Lakh need not get their accounts audited .Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.
• Continuity of Business : A LLP has ‘perpetual succession’, that is continued existence until it is brought on the terms of the dissolution by mutual agreement within the partners. Partners may come and go, but an LLP goes on.
• Separate Legal Entity : A LLP is a legal entity and a juristic person established under the Act. The partners are distinct from the entity and both can sue each other and get sued in the process.

Pre-Requisites of incorporating a LLP

• Minimum 2 Partners (18 years and above age)
• There is no minimum capital requirement in LLP.
• At least one Designated Partner as Indian Resident
• DIN for all Partners

Documents required

• Identity Proof such as Aadhaar card, PAN card, Driving License, Voter Id of all the designated directors and shareholders. 
• A NOC or No Objection Certificate from the landlord of the business place
• Address Proof of all the proposed directors and shareholders of the company.
• Other utility bills such as telephone, water, gas, or electricity bill as residential proof of the registered office. It should not be older than 2 months.

Whats included in package

• DSC and DIN for 2 Directors.
• Company Name Reservation.
• MOA & AOA.
• Corporate Identification Number (CIN).
• PAN & TAN.
• Bank Account Opening Template.

Overview on Private Limited Company

The Private Company is defined under Section 2 (68) of the Companies Act 2013, as a company which has the minimum paid-up capital of Rs 1 Lakh. A Private Limited Company is owned by the members, which must be a minimum 2 in number and may extend up to 200 in number. However, acts of members of the Private company are governed by the Articles of Association (AOA) and Memorandum of Association (MOA).

How to register a Private Limited Company?

The Private Ltd. Company registration, first of all, requires a minimum composition of 2 members and 2 directors. However, the maximum number of members can be 200, and maximum directors can extend up to 15 for the registration of a private limited company. The Private Ltd. Co. also has limited liabilities for its members and does not issue its shares to the general public.

Private Ltd. Co. registration in India initially requires the Digital Signature Certificate and Director Identification Number in favor of one director for the purpose of incorporation. One has to apply to the concerned RoC to ascertain the availability of name in RUN. A fee of Rs. 500/- has to be paid and the digital signature of the applicant proposing the company has to be attached in the form.

Thereafter, the company needs to obtain approval for the name and to identify that no company with a similar name is existent at the time of incorporation of such a new company. Once the approval is obtained, one has to file required forms that will be Form 1, 18 and 32 within 60 days of name approval and the necessary documents. Finally, after a full verification regarding the registration process, file a declaration in eForm 19 and eForm20. Lastly, MCA will issue a certificate for commencement of business of the Private Limited Company.

Benefits of incorporating a private limited company

• The Pvt Ltd. company is governed by the Companies Act 2013
• At least two members are required to set up a Private Limited Company
• The Private Limited has a separate legal entity than of its members
• Private Co. has perpetual succession, which means that any changes in members such as death, bankruptcy, exit, transfer, etc. do not affect the existence of the company.
• In the Pvt Ltd Company, a member is liable for his actions only to the extent of his liability in the form of a contribution to the capital.
• In the Private Ltd. Company, the capital is raised privately from the shareholders and cannot be raised or borrowed money from the general public.
• The Private Ltd. company has the capacity to sue and can be sued.
• The Pvt. Ltd. company can borrow funds in the form of loans from the financial institutions.
• The Co. can own the property in its own name.

Essential Requirements for Online Company Registration

• Minimum 2 members required and Maximum 200 members
• Minimum Paid-up capital required is Rs 1 lakh
• Minimum 2 directors required and a maximum of 15 directors
• DSC (Digital Signature Certificate) is required
• DIN (Director Identification Number) is required in favour of the one main director

Documents for Company Registration

• PAN card details of all the directors and shareholders
• DIN or Directors Identification Number of all the designated directors
• DSC or Digital Signature Certificate of the designated directors
• Memorandum of Association (MOA) and Article of Association (AOA)
• A NOC or No Objection Certificate from the landlord of the business place
• Address Proof of all the proposed directors and shareholders of the company.
• Identity Proof such as Aadhaar card, PAN card, Driving License, Voter Id of all the designated directors and shareholders. 
• Other utility bills such as telephone, water, gas, or electricity bill as residential proof of the registered office. It should not be older than 2 months.

Documents required

• Address Proof of all the members
• ID Proofs of all the members
• Landlord NOC (Format will be provided)
• Electricity/ Water bill (for Business Address)
• Affidavit No. 1 regarding ownership and NOC for registered office of society
• Affidavit No. 2 regarding persons not related to each other and name of society

Whats included in package

• Society Registration Certificate
• Preparation of MOA and Rules & regulations
• Affidavit regarding ownership
• Affidavit for desirous person not related to each other