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The differences for Private Limited Company and Public Limited Company are explained as under: · Definitions: Private Limited Company: As per the Companies Act 2013 "Private Company is a company which has a minimum paid-up capital of Rs 1 lakh Rupees and which is restricted to have the right to transfer the share. Public Limited Company:As per the Companies Act 2013" A public Company is a company which is not a private company and has a minimum paid up capital of Rs 5 lakh Rupees and have a right to transfer of shares of a company. · Number of members: There should be minimum 2 members to start a Private Limited Company and maximum ceiling of 200 members. In case of Public Limited Company minimum 7 members should be there and no ceiling on maximum number of members. · Number of Directors: There should be minimum 2 Directors in case of Private limited Company and minimum 3 directors in case of Public Limited Company. · Statutory meeting: A Private company has to hold a statutory meeting within 30 days of Company Incorporation and Public Company has to hold statutory meeting as well file the statutory report with ROC. · Transferability of shares: Articles of Association of restrict the transferability of share in case of Private Limited Company and In case of public limited company there are no such restrictions. · Share Subscription: A private company has no right to invite public for subscription. As opposed, a public company can invite the general public for subscribing shares of the company. · Managerial Remuneration: Total managerial remuneration in the case of a public company cannot exceed 11% of the net profits but in the case of inadequacy of profits a minimum of Rs 50,000 can be paid. These restrictions do not apply to a private company. Conclusion: It is clear from the above points that both the business structure has its own merits and demerits. Private Limited Company is basically suited for the start-ups with limited capital inv

Section 2(87) of companies act, 2013 provides the definition of the Subsidiary as under: "Subsidiary Company" or "Subsidiary", in relation to any other company (that is to say the holding company), means a company in which the holding company- (i) Controls the composition of the Board of Directors; or (ii) Exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies: Provided that such class or classes of holding companies as may be prescribed shall not have layers of subsidiaries beyond such numbers as may be prescribed. Thus , if LLP will hold more than 50% shares of the private Limited Company then the Private limited Company will be called as subsidiary of the LLP and there are no initial requirements which need to be followed from LLP's part.For incorporation of Private Limited Company, the same can be done by following standard procedure for incorporation of Private Limited Company. Learn more about process for Registering a Private Limited Company at http://www.legalwiz.in/blogs/com... Get assistance from Experts at LegalWiz.in for Registering a Private Limited Company at the nominal professional fees. Reach us at 1800 313 4151 or support@legalwiz.in

There is no condition to start the business immediately after incorporation of Company; hence you can incorporate the company for future course of business as Private Limited Company or Public Limited Company. Further for this kind of situation there is a concept under section 455 of the Companies Act, 2013 called "Dormant Company". A dormant company is a company that has been registered under the Companies Act but is not carrying out any "significant accounting transaction." As per Companies Act 2013, a company that has been formed and registered under the Act, a) For a future project or to hold an asset or intellectual property and, b) Has no significant accounting transaction, is permitted to make an application to the Registrar to obtain the status of a dormant company. For being well compliant after incorporation Annual return of the Dormant Company in Form MSC-3 shall be filed within 30 days of the end of the financial year. Further the dormant companies can enjoy status as Dormant companies for maximum consecutive 5 years. You may visit us at http://www.legalwiz.in/private-l... for product details and get in touch with CA/CS for free consultation on 1800 313 4151 or through mail at support@legalwiz.in

You can start the software business in India by setting up a company as per the rules laid down under Act. There are two most common type of entities exist in India i.e. ONE PERSON COMPANY- Ifyou want to operate the business solely under your name and do not wish to share the control of the company, you can opt for Registering an OPC. In this type of Company, there is only one promoter/founder. However, nominee in the company is required who can become the member of the company in case of death or any other incapacity of the original member. PRIVATE LIMITED COMPANY- Itis a type of privately held small business entity. This type of business entity limits owner liability up to their shares, limits the number of shareholders to 200, and restricts shareholders from publicly trading shares. Following are the procedure to register a company - Acquire Digital Signature for the directors. Obtain DIN (Director Identification Number). Fill Name application form (RUN) with MCA. After getting name, file Spice form and required documents for getting Registration Certificate Following are the required attachments need to be attach in the forms for Incorporation- Certified true copy of self-attested identity proof. Passport Size Photo of the Shareholders and Directors Address proof of the Shareholders and Directors Utility Bill and NOC from the owner for Registered Office Address Rental agreement, if premises is rented. After due verification of the application and documents provided, the ROC may grant COI (Certificate of Incorporation), which is a conclusive proof of existence of the company Learn more about process for Registering a Private Limited Company at http://www.legalwiz.in/blogs/com... Get assistance from Experts at LegalWiz.in for Registering a Private Limited Company at the nominal professional fees. Reach us at 1800 313 4151 or support@legalwiz.in

The Government fee on company registration has been waived off for the small companies having authorised capital up to INR 10 Lakh. However, the Stamp Duty shall be paid to concerned State Government. Further, for application of Name Approval, the charges of INR 1000 shall be payable to the Government in addition. LegalWiz.in provides the company registration at the affordable cost of Rs 9,999, which includes following in span of 12 to 15 days: Expert assisted process All expenses and Government fee 2 Director Identification Numbers (DIN) 2 Digital Signature Certificates (DSC) of Directors Name Approval Application MOA and AOA Drafting Application for company incorporation Certificate of Incorporation PAN Number TAN Number You may visit us at http://www.legalwiz.in/private-l... for product details and get in touch with CA/CS for free consultation on 1800 313 4151 or through mail at support@legalwiz.in