Private Limited Companies are such types of companies where minimum number of participants is two and maximum number is fifty. A private limited company has the minimal liability of members but at the same time it has many properties as those of a partnership firm. It has advantages of partnership specifically flexibility, greater capital combo of different and diversified capabilities, etc., and at the same time it has positive aspects of limited liability, greater stability and legal thing. In this sense, a private limited company appears between partnership and commonly owned public company. The Private Limited Company Registration is very easy process and we completed in few days. Identifying brand value of a private limited company are name, number of members, shares, formation, management, directors and meetings, etc. The maximum number of directors should have to be described in the following. In the grand of rights and exemptions, the Businesses Act has drawn a difference between an independent private company and other private company which is a additional to the other public organization.
Benefits Of Private Limited Company:
Separate Legal Entity: A company is a authorized entity and a juristic person founded under the Act. Therefore a company form of business has wide legal capacity and can own asset and also bear debts. The associates (Shareholders/Directors) of a company have no responsibility to the creditors of a company for such debts.
Uninterrupted Existance: A business has 'perpetual succession', that is ongoing or uninterrupted lifestyle until it is lawfully mixed. A company, being a individual legal person, is not affected by the death or other leaving of any member but continues to be in existence regardless of the changes in regular membership.
Borrowing Capacity: A business owner enjoys better ways for borrowing of resources. It can issue debentures, properly secured as well as unprotected and can also take deposits from the customer etc. Even banking and financial organizations prefer to provide large financial support to a company rather than collaboration firms or exclusive concerns.
Easy Transferability: Provide you a company limited by shares are transferable by a investor to any other person. Processing and signing a share trade form and providing over the buyer of the stocks and shares along with certificate can simply transfer shares.
Owning Property: A company becoming a juristic person, can acquire, enjoy, own and alienate asset in its individual name. No shareholder can make any claim upon the asset of the company so long as the company is a proceeding issue.
Capacity to sue and be sued: To sue means to institute legal procedures against or to deliver a suit in a court of law. Basically as one person can bring a legal action in his/her own name against another in that person's name, a organization being an separate legal organization can sue and also be charged in its own name.
Dual Relationship: In the business form of organization it is probable for a company to make a valid and efficient contract with any of its participants. Thus, a person can at the similar time be a investor, creditor, director and also an staff of the company.
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