Private Limited Company Registration

SETTING UP a Private Limited Company

In India involves the following requirements:

  • Shareholders and Directors: A minimum of two shareholders and two directors are necessary.

  • Overlap: Shareholders can also serve as directors.

  • Resident Indian Director: At least one director must be a Resident Indian.

In summary, a Private Limited Company formation necessitates a balanced mix of shareholders and directors, with a focus on compliance with residency norms.

Choosing the name of the company! While choosing the name, ensure that the name

  • Does not resemble the name of any other already registered company

  • Does not violate the provisions of emblems and names (Prevention of Improper Use Act, 1950) by availing the services of checking name availability on the portal

  • Select, in order of preference, at least one suitable name up to a maximum of six names, indicative of the main objectives of the company

Once the name is chosen, then apply for the incorporation with Registrar of Companies (ROC), along with Memorandum and Articles of Association, particulars of directors, etc.

Digital Signature – All the directors have to mandatorily obtain the digital signature.

Once the application is processed by the Registrar of Companies, they will issue an Incorporation Certificate mentioning a Corporate Identity Number (CIN)

 

Compliance Requirements

India has specific compliance requirements to adhere to. Let’s explore them:

 

  1. Disclosure of Directors’ Interest (Form MBP-1):

    • Every director must disclose their interest in other entities (such as directorships, partnerships, and shareholdings) during the first board meeting of each financial year.

    • Fresh disclosures are required whenever there is a change from the earlier submission.

  2. Disclosure of Non-Disqualification by Directors (Form DIR-8):

    • Directors must file this form annually, declaring that they were not disqualified to act as directors during the previous financial year.

  3. Delay in Payment to MSME Vendor (Form MSME-1):

    • Companies must file this return half-yearly, listing outstanding dues payable to Micro or Small Enterprises suppliers.

    • Filing deadlines: April to September (by October 30), October to March (by April 30).

  4. KYC of Directors (Form DIR-3):

    • Directors’ KYC includes verification via email OTP and mobile OTP.

    • Update if there are changes in director details.

  5. Return of Deposit (Form DPT-3):

    • File this return annually by June 30, providing information about deposits and outstanding receipts of loans (other than deposits).

  6. Circulation of Financial Statements & Relevant Documents:

    • Send approved financial statements, directors’ reports, and auditors’ reports to members at least 21 days before the Annual General Meeting.

Remember, timely compliance ensures legal adherence and smooth operations for private limited companies

We at JLNR & Co., Chartered Accountants, provide services in setting up a company in India.

 

In case you need our services, please write to support@jlnrco.com or call +91 76766 15955  

 

Are you not looking for Private Limited Company Registration? Click below to find other forms of entity registration:

·         Partnership Firms Registration

·         Proprietary Concern

·         One-Person Company or OPC Registration

·         Limited Liability Partnerships (LLPs) Registration

·         Subsidiary Company Registration

·         Setup Branch / Liaison Office

·         Trusts and Societies

·         Charitable Trusts

 

Other registration required after Private Limited Company registration  depending on business :

  • GST Registration

  • Registration under Shops and Establishment Act

  • Profession Tax Registration

  • MSME | Udyog Aadhaar Registration

  • Employee Provident Fund Registration (PF Registration)

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