1. Identity proof of Applicant- PAN is mandatory for Indian Residents and Passport is mandatory
for foreign nationals.
2. Address Proof of Applicant- Voter Id card/ Aadhar card/ Driving License/ Bank Statement/ Mobile Bill( Bank Statement/ mobile Bill, any one of them is compulsory) not older than two months.
3. Proof of office Address- Electricity bill/ Water Bill/Gas Connection
4. NOC from the previous owner/ Rent Agreement of the premises
5. Copy of Utilities Bill of the Proposed Premises (not older than two months).
6. Photographs of the Applicant- 5 photographs
1) DSC and DIN of the proposed Applicants.
2) Desired six names of proposed new company.
2) Authorized and Paid up capital of the proposed company.
3) Main objects of the proposed company.
4) Address of the registered office with pin code.
5) Email id and contact details of the proposed directors and company for MCA Acknowledgements.
6) NOC from the sole proprietor/ partners/other associates/ existing company
7) Details of Directors (Names, DIN No. s and their directorship in other companies)
8) Details of shareholders of proposed new company.
Private Limited Company has 'perpetual succession', meaning uninterrupted existence it continue indefinitely, until dissolved by either the corporation itself or the state. A company being a separate legal person, is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership.
Private Limited Company is a legal entity and a juristic person established under the Companies Act. Hence, a company has a range of legal capacities and the members (Shareholders/Directors) of a company have no personal liability to the creditors of a company for company's debts. If a business is a separate legal entity, it means it has some of the same rights in law as a person. It is, for example, able to enter contracts, sue and be sued, and own property. Sole traders and partnerships are not separate legal entities from the owners.
One of the primary advantages is that its owners, called members, have "limited liability," meaning that, under most circumstances, they are not personally liable for the debts and liabilities of the Company. Unlike partnership and proprietorship, in a limited liability Company the liability of the members in respect of the company’s debt is limited.
Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and a share certificate is sufficient to transfer ownership of a company. In a private limited company, the consent of other shareholders may be required to effect share transfers.
A company enjoys better avenues for borrowing of funds. Companies can also issue equity shares, preference shares, debentures and accept deposits with RBI permission. Banks and Financial Institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns.
To sue means to institute legal proceeding against or bring a suit in a court of law. Just as one person can bring a legal action in his/her own name against another in that person’s name, a company being a independent legal entity can sue and can be sued in its own name.