Private Limited Company

Section 2 (68) of the Companies Act, 2013 defines a private company as:

“A Company having a minimum paid-up share capital as may be prescribed, and which by its articles,—

Limitation of liability of subscribers
Uniteruptted existence
Formal recognition of business
Easy to share ownership
Better for start ups seeking investments

Apply for DSC (Digital Signature Certificate)

Apply for the DIN (Director Identification Number)

Apply for the name availability

Membership: A minimum of 2 and maximum of 200 shareholders are required in order to start such a company.

Hefty Penalties: To err is human, and in Company law, to err is to pay. Yes, Fines which can range between 5000 to 25 Lakhs and sometimes even more. Some of the mistakes will end up in imprisonment of every officer in default.

PAN card, UID and passport of Indian and foreign directors, respectively