Company Registration Chennai

Normally , the promoters would be holding all shares in Private Limited Company. A group of promoters would be owning the Private Limited Company. To incorporate a Private limited company in India, a minimum of two shareholders is required and a maximum of up to two hundred shareholders are allowed. The liability of the owner limits to their shares. To transfer the Shares, Share Transfer Deed in the prescribed format must be obtained from the transferor to transfer the shares to the transferee to execute the share transfer. The City Chennai is very much center to do the business. Company Registration in Chennai is very with ClearFilings. Our expert will get documents of Company Registration and Register a Company in Chennai as schduled

At Clearfilings , we are giving a complete guidance to help you understand how to register a private limited company. Most of the start-ups and growing businesses wish to register a company in India to get the benefits of outside funding which limits the liabilities of its shareholders and enables them to offer employee stock options to attract top talent. The companies that are registered as Private Limited Company are required to hold board meetings once every three months and there must be four meetings each year. Notice for the board meeting should be given in a proper document format a Non-issue of notice of board meeting will be treated as invalid and resolution passed in the meeting will be treated as inoperative.

Advantages of Company Registration in Chennai

Limited Liability

The main advantage of owning a Private Limited Company is that the Liability of the shareholder limited to share held in the company. In case of fraud, would negate an owner’s limited liability protection.The Shareholder of the company would not risk losing their personal assets.

Continued Existence

The Private Limited Company would not suffer due to shareholder dies or leaves the business as its artificial juridical person. The deceased person is replaced by his legal hire. The continuity of existence is a very much advantage to private limited company.

Restricted Trade Shares

The share of private limited company cannot sell to outside buyers. Shareholder must agree to sell or transfer of shares. The RBI also instructed Banks some regulations on funding to Private Limited Company under the Companies Act.

Borrowing Capacity

A Private Limited Company easily funded by Banks to their Business. The Private limited company having a good repo in Banking because of legally registered under the companies Act. Manage your time so you’ll get more done in less time.

Frequently Asked Questions

What is a Private Limited Company?
A private limited company is an Artificial Juridical Company. A company is registered with ROC in India.
What is the number of Shareholders required to incorporate a Private Limited Company?
There is a minimum of two shareholders required to start a Private Limited Company and the number can extend maximum from fifty to two hundred beyond which is not permitted.
How many Directors are required in Private Limited Company?
A minimum of two directors are required to establish a private limited company and the maximum amount cannot exceed beyond fifteen.
Can LLP (Limited Liability Partnership) be converted to Private Limited Company?
No, LLP cannot be converted to a Private Limited Company as it is not permissible by the government of India. Both the LLP Act, 2008 and the Companies Act, 2013 are silent about the matter and haven’t done any amendments on the same. However, if you want to expand your business you can register a Private Limited Company with INC-29 which has simplified the process of registration.
Can a Salaried person become the director in Private Limited Company?
Yes, a salaried person becomes the director in private limited company, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.
How long is the company valid for?
Once a Company is incorporated, it will be active and in existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and may be struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years.
What is DSC?
Digital Signature Certificates (DSC) is an electronic format of a certificate that represents the physical form of a certificate. These are specific certificates which give you authority to access information or services on the Internet or to sign legal documents. It works as a prove for the identity of a person example of certificates can be like a driving license, passport or any membership certificates. It’s the same way as the physical documents are signed manually, the electronic documents, like e-forms, are signed by using the Digital Signature Certificate.
What is DIN?
Director identification number is the unique number that is issued to existing Director or a Future Director of a Company. It is required to be submitted during the procedure for company registration. It is denoted as DIN. Often there are crisis situations when a company is created with money raised from the investors and public, then the director along with all the money vanishes which are not traceable if they don’t have a DIN. To avoid such fraudulent cases and maintain a proper record of the company a DIN is necessary.
What is a Stamp Duty?
It is a tax that is demanded on documents. The stamp duty includes majorly the legal documents such as Cheque, military commissions, marriage license, receipts and land transactions. When a physical stamp is attached to the document, it is denoted that, the stamp duty had been paid for the particular document which was effective legally.
Do I need a Chartered Accountant to register my company?
Yes, a chartered accountant is important for a company registration, as it provides general accounting, internal auditing, accounting, outsourcing, income tax advisors, tax planning, etc.
Can a government servant, start his/her own company?
It is a strict No, a government employee cannot run a business or do a part time job and for that matter anything except the designated work in the government.
What is a Share Certificate?
It is a written document which is signed on behalf of a corporation/company to serve as a legal proof of ownership of shares/stock that the company indicates to have. It is also termed as Stock Certificate.
When to appoint a CA/CS in company?
Every company having a paid-up capital of Rs. 5 crore needs to have a whole time CS official as per the new amendment in the Company Act.

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