Overview |
Characterstics |
Advantages |
Disadvantages |
Process |
Documents Required |
Documents Required
ID proof: PAN card, UID and passport of Indian and foreign directors, respectively
Address proofs: Ration card or Aadhar card or driver’s license or voter ID
Residence proofs: Bank statement or electricity bill of the premise
Notarized rental agreement
NOC from the property owner
A copy of the sale deed or property deed (for an owned property)
Overview
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,—
(i) restricts the right to transfer its shares;
(ii) except in case of One Person Company, limits the number of its members to two hundred;
(iii) prohibits any invitation to the public to subscribe for any securities of the company.”
Simply, a company in which shares can not be bought by common public at large ( ie not more than 200 people)
Such company affix word as PVT LTD at end of thier name such as
Marriott Hotels India Pvt. Ltd.
American Express (India) Private Limited
Pvt ltd companies are first choice for every start up in India.
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