Company Formation
Our services range to complete business setup solution (including company formation) - which provides our clients ready to start company in India complete with all legal requirements and registrations.
Our range of services include Private Limited Company Formation, Limited Company Formation, Liaison Office Registration, Foreign Branch Office Registration, Legal Registration Services, Corporate Compliance Services, Complete Business Setup Solution etc
Public Company Formation
OVERVIEW
According to the section 3(1)(iv) of the Companies Act of 1956, a company is said to be a Public Company if:
1. It is not a private company
2. It has a minimum paid-up capital of Rs. 5 Lakhs and above
3. It is a private company which is a subsidiary of any public company
According to section 43A, a Private company is deemed to be a Public company when:
1. At least 25% of its paid-up share capital is held by one or more corporate bodies
2. Its annual turnover has been exceeding Rs. 25 crores since last three consecutive years
3. It holds at least 25% of the paid-up share capital of any public company
4. It accepts or renews deposits from the public after making invitation and advertisement.
Also, the minimum number of members in a public company is seven and such a company must have the word “Ltd” as last part of its name
Private Company Formation
What is a private limited company?
Section 3.(1)(iii) of the company Act of 1956, defines a private limited company as--
(a) One which has a minimum of Rs. one Lakh paid-up share capital or more
(b) One which by its Articles Association:
1. restricts the right of the transfer of its share;
2. limits the number of its members to 50 which will not include:-
A. members who are employees of the company; and
B. members who are ex-employees of the company and were members while in such employment and who have continued to be members after ceasing to be employees;
3. Prohibits any invitation to the public to subscribe for any shares or debentures of the company; and
4. Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives.
Also, the minimum number of members in a private company is two, and such a company must have the words “Pvt Ltd” as the last part of its name.