Private Limited Company
Private Limited Company Registration
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Registering a private limited company is highly recommended form of entity to start business in India and held to run small business privately. Private limited company registered under companies Act 2013. Private limited can have minimum 2 members and maximum 50 members. This type of entity limits liability of owner liability to their shareholding in company. Directors also have limited liability to their creditors and in case of default Bank or creditors are allowed to sell the property of company for their recovery.
In any worst case Bank or creditors are not allowed to touch the personal property of Directors for their recovery of debtors.
Benefits of Private Limited Company
There shall be at least be two directors to start private limited company. And there can be maximum 200 members in private limited company.
Having more number of members will help company to grow faster and in easier way. Contribution of funds from members will create company financial stronger and will create good credit stability and goodwill in market and members can also contribute their ideas and resources to grow company.
The liability of each member or shareholder is limited to contribution made by them individually