Starting A Business
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Every aspiring businessman would forever look forward to the day when he would start his own business. To make this dream of his to turn into reality, a legal firm like us can be of great help. With our years of expertise in imparting legal services and support to a range of businesses, both start-ups and established ones, we at Bluestrokeslab.com can be your most reliable partner in helping you with legal aspects of your business. Right from giving you a basic know-how on the fundamentals of a start-up venture to more consequential matters of business decision making, we are there right along with you as a constant companion. The different classifications of a business firm are the foremost thing you need to learn before setting out with your business plans. We give you a quick brief on it here;
Overview
Private Company Registration
A Private Company' is a limited company formed with inimum of 2 members and 2 Directors. The maximum number of members in a private company is restricted to 50.
The name of the company should end with the words 'Private Limited. A Private Limited company is the most common incorporated business organisation in India. It is generally called as a Private Company.
A Private Company is an incorporated business entity registered under the Companies Act, 1956, with the following features and restrictions:
- Minimum and maximum number of shareholders are 2 and 50, respectively.
- Minimum paid-up capital should be Rs.1,00,000.
- Minimum number of directors are 2.
- Shares transfers can be restricted as per the articles of the company.
- Private company cannot accept deposits from the public; it can accept loans and deposits only from its shareholders, directors and directors' relatives.
- Private company cannot issue shares to the public.
- Compliance and regulatory requirements under applicable company laws are fewer and simpler as compared to requirements prescribed for a public company.
- The name of the company should end with 'Private Limited'
FAQ
what is DIN?
DIN is an identification number issued by the Ministry of Corporate Affairs, Government of India, to Directors of a company or Designated Partners of an LLP.
For obtaining DIN, an online application has to be submitted to the Ministry of Corporate Affairs with a copy of Identity and Address Proof of the Applicant and a declaration by the applicant. The Online DIN Application has to be signed by a Practicing Company Secretary / Chartered Accountant / Cost Accountant.
Topics Under Starting A Business
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Private Limited The companies Act has laid down a certain set of rules and regulations to be abided while the incorporation of a company. The primary step is getting approval of the name of the company, by filing and submitting the name application to the ROC-Registrar of companies. Within a period of 7 days, you will know if the name is available or taken alre...
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LLP A Limited Liability Partnership (LLP) is an incorporated business form that combines the features of a partnership and the company form of businesses. The LLP form of organization was introduced in India by the Limited Liability Partnership Act, 2008. LLP is a body corporate with all the features of a limited LLP. This is a new business orga...
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Partnership In businesses, partnership is a type of contract wherein the persons involved in a business (partners) share the profit of running it. Partnership contract is its essence. As per the Indian Partnership Act, 1932 a partnership firm has no independent existence apart from the partners constituting it and is established by the partnership deed or a...
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Proprietorship Being the oldest and most common form of business structure, a sole proprietorship an ideal one for a small business. Since it is owned, operated and managed by a single individual, does not have a distinct status apart from the owner, and is neither a legal entity. Also known as a sole trader or simply a proprietorship, the owner receives all p...
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Trademark A trade-mark is a word, design, number, two-dimensional or three-dimensional form, color, or a combination of two or more of these elements which a trader uses to distinguish his/her products or services from those of his/her competitors and serves to establish goodwill with the consumer The Registrar of the Trademark shall register a mark u...
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Trust As per section 3 of the Indian Trust Act, 1882 a trust is an obligation annexed to the ownership of property and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him for the benefit of another or of another and the owner. A charitable purpose is one designed to benefit, ameliorate, or uplift mankind m...