1. What is a Private Limited Company (PLC)?
A private limited company is a company privately held for small businesses. This type of business entity limits owner liability to their shareholdings, the number of shareholders to 50, and restricts shareholders from publicly trading shares.
2. Who should opt for Private Limited Company form of Business Structure?
1. Limited risk to personal assets
The shareholders of a private limited company have limited liability. This means that as a shareholder you will be liable to pay for company’s liability only to the extent of the contribution made by you.
2. Legal Entity
A PLC has a separate legal entity different from you. This means that the Company is responsible for the management of its assets and liabilities, debtors and creditors. And you are not responsible for it. So, the creditors cannot proceed against you to recover the money.
3. Raising Capital
Even though registering a PLC comes with compliance requirements, it is preferred by entrepreneurs as it helps them raise funds through equity, expand and at the same time limits the liability.
Companies in India are registered with the Registrar of companies(ROC) under Companies Act 2013. Anyone can check the details of the company through Ministry of Corporate Affairs (MCA). Also, details of all the directors are provided while the formation of the company. Hence a PLC form of business structure is trusted more.
DSC & DIN not required for filing of RUN form for reservation of Name. Only account of MCA portal is mandatory.
No Re-submission of application is allowed in case of reservation of Name. The application either Approve or Reject.
Reserved name shall be valid for 20 days in case of allotment of name for New Company.
Reserved name shall be valid for 60 days in case of allotment of name for existing Company (Change of Name).
Only one Name can be mentioned in RUN form. Earlier INC-1 allowed 6 names according to the preference.
As per Register office Fees Rules, Fees shall be Rs. 1,000/-
No. It is mandatory to attach relevant documents and No Objection Certificates(NOCs) only when a name which requires the approval of a Sectoral Regulator or NOC etc. if applicable, as per the Companies(Incorporation) Rules, 2014, is being applied for.
Please note that only one file is allowed to be uploaded as an attachment and the size of the file should not exceed 6MB. In case of multiple attachments, please scan all documents into a single file not exceeding 6MB in size, and then upload the same.
No, there is no need to mention the name or number of proposed Directors in RUN.