Our Firm Deepali A. Sadavarte and Associates is engaged with Company Formation and LLP Formation services in Pune.
We do the Formation of One Person Company (OPC), Private Limited Companies, Nidhi Companies, Producer Companies, Section 8 Companies, and Limited Liability Partnerships (LLP).
OPC (One Person Company)
OPC structure would be similar to that of a proprietorship concern without the hardship generally faced by the proprietors. One most important feature of OPC is that the risks mitigated are limited to the extent of the value of shares held by such person in the company. This would enable entrepreneurial minded persons to take the risks of doing business without the botheration of litigations and liabilities getting attached to the personal assets.
One Person Company has a separate legal identity from its shareholders i.e., the company and the shareholders are two different entities for all purposes. On the other hand, a proprietorship does not have a separate legal identity from its members.
Salient Features and Privileges of OPC:
- Decisions are quicker as compared to Private Limited or any other Company structure
- A One Person Company is incorporated as a Private Limited Company
- It must have only one member at any point of time and may have only one director
- Total hold and decisive powers are with one member
- OPCs would provide start-up entrepreneurs with a new business idea
- Compliances are on the lower side as compared to Private Limited Company
- Mandatory rotation of auditor after the expiry of the maximum term is not applicable
If you are searching for One person company formation service in pune, then you are at right place. Contact us for further details.
Private Limited Companies
Section 2(68) of Companies Act, 2013 defines Private companies. According to that, private companies are those companies whose Articles of Association restrict the transferability of shares and prevent the public at large from subscribing to them. This is the basic criterion that differentiates private companies from public companies.
Salient Features and Privileges of Private Limited Company:
- No Minimum paid-up share capital requirement.
- Minimum 2 and maximum 200 members:
- A private company can have a minimum of just two members (but just one is enough if it a One Person Company), and a maximum of up to 200 members.
- Transferability of shares restricted: Private companies cannot freely transfer their shares to the public like public companies. This is why stock exchanges never list private companies.
If you are searching for a private limited company formation service in pune, then you are at right place. Contact us for further details.
Limited Liability Partnerships (LLP)
LLP is an alternative corporate business form that gives the benefits of the limited liability of a company and the flexibility of a partnership.
The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. To this business structures tax benefits is given. The tax benefits would be 30% from the profits.
Salient Features and Limited Liability Partnership:
LLP form is a form of business model which:
- is organized and operates on the basis of an agreement.
- provides flexibility without imposing detailed legal and procedural requirements
- enables professional/technical expertise and initiative to combine with financial risk taking capacity in an innovative and efficient manner
If you are searching for a Limited Liability formation (LLP) in pune, then you are at right place. Contact us for further details.
Public Limited Company
As per Section 2(71) of the Companies Act, 2013- “Public company” means a company which is
- not a private company and;
- has a minimum paid-up share capital as may be prescribed provided that a company which is a subsidiary of a company, not being a private company, shall be deemed to be a public company for the purposes of this Act even where such subsidiary company continues to be a private company in its Articles.
Salient Features and Privileges of Private Limited Company:
- Minimum of 7 shareholders and 3 directors are necessary.
- For a Public Limited Company, the name must end with the word “Limited”.
- Before the procedure of registration, the name of the company should be approved by ROC
Section 8 Companies
In India, there are mainly the following types of non-profit organizations i.e. Section 8 Companies (earlier Section 25):
— Societies registered under section 20 of the Societies Registration Act 1860.
— Trusts formed under Indian Trusts Act 1882
What is meaning of Section 8 Companies and Who can apply for registration u/s 8:
Any person or an association of persons intending to register a limited liability company for objects specified below can opt to apply for registration of Section 8 Company.
The following have to be proved to the satisfaction of the Central Government that:
- Its objects include the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment, or any such other object;
- The company after incorporation intends to apply its profits, if any, or other income in promoting such objects only; and
- The company intends to prohibit the payment of any dividend to its members
We also do the Formation of other Companies like Nidhi Companies, Producer Companies, etc.
Quality Service is our motto. Contact us for Consultation in connection with Company Formation.