To carry on the business of providing Manpower placement and recruiting, Selecting, Interviewing, Training and Employing all types of executives, Middle Management Staff, Junior Level Staff, Workers, Labourers Skilled/Unskilled required by various Industries and organizations including providing security services, Labour contractors, Industrial, Commercial, Housing and other security services and workers for office management and to conduct employment bureau and to provide consultancy and other services in connection with requirements of persons and manpower supply in India and abroad.
Private Limited Company
Main objects of Logistics Company
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To establish, organize, manage, run, charter, conduct, contract, develop, handle, own, operate and to do business as fleet carriers, transporters, in all its branches on land, air, water, & space, for transporting goods, articles, or things on all routes and lines on National and International level subject to law in force through all sorts of carries like trucks, lorries, trawlers, dumpers, coaches, tankers, tractors, haulers, jeeps, trailers, motor buses, omnibuses, motor taxies, railways, tramways, aircrafts, hovercrafts, rockers, space shuttles, ships, vessels, boats, barges and so on whether propelled by petrol, diesel, electricity, steam oil, atomic power or any other form of power.
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To carry on the business as agents, distributors, merchants, importers, exporters, traders, contractors, warehousemen and to establish, maintain, operate and/or run agency lines in goods, stores, consumable items, durable merchandise, chattels and effects of every kind and description in any place in the worldand without limiting the generality of the above, to carry on business as Selling Agents, Buying Agents, Factors, Mukadams, Carriers, Jath Merchants, Landing Clearing and Forwarding Agents, Commission Agents, Insurance Agents, Distributors and Stockiest, Brokers and/ or in any other capacity.
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To carry on the business of clearing and forwarding agents, courier and cargo handlers, handling and haulage contractors, warehousemen, common carriers by land, rail, water and air, container agents, to handle goods and passengers within the country and outside and to carry on the business of tour and travel operators and to act as customs agents, wharfingers, landing agents, stevedores and longshoremen.
Main objects of Hotel Business Company
(1) To carry on all the business of hotels, restaurants, cafes, holiday camps, resorts, taverns, beer-houses, refreshment rooms, night clubs, cabarets and swimming pools and Turkish baths and lodging or apartment house keepers, licensed victuallers, wine, beer and spirit merchants, brewers, distillers, bakers and confectioners, importers and manufactures of aerated mineral and artificial water and other drinks.
(2) To carry on all the business of purveyors, caterers for public generally, taxi, motor car and motor lorry proprietors, livery, stable and garage proprietors, farmers, dairymen, ice merchants, importers and brokers of food, live and dead stock and foreign produce of all descriptions, hair dressers, perfumers, chemists, Proprietors of clubs, baths, bars, dressing rooms, laundries, reading, writing and newspaper rooms, libraries, grounds and places of amusement, recreation, sport, entertainment of all kinds, health club, beauty saloons, indoor and outdoor playgrounds and stadiums, swimming pools, video and other fun game rooms, race courses, meditation centers, boating clubs, flying clubs, freezing hot preservation and baking chambers, and other apartments, tobacco and cigar merchants including the manufacture of cigars and other allied products, agents for railways, shipping and airline companies and carriers and theatrical and open box office proprietors entrepreneurs in connection with sub-clause 1 above.
(3) To act as hotel management consultants, mangers, operators, advisors, planners, values and to impart technical know-how and training in the field of planning, construction, operation of hotels, motels, restaurants, recreation and entertainment centers in the field of tourism industry whether in India or abroad and to purchase erect or otherwise acquire, establish and equip and act as collaborators, technicians, financiers to any other hotel or restaurant in India or abroad.
Main objects of Automobile trading company
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To carry on the business of manufacture, fabricate and assemble, buy, sell, import, export, distribute, and deal in automobile parts of all kinds and descriptions, automotive and other gears, transmission and other axles, universal joints, springs, leaves, head lamps, sealed beams, induction hardened pins, axles, alloy springs, accessories and fittings of al kinds and to act as brokers and marketing agents for aforesaid items.
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To carry on the business of buying, selling, dealing in, automobiles, motorcars, lorries, buses, vans, motorcycles, cycle-cars, motor, scooters, carriages, amphibious vehicles, and vehicles suitable for propulsion on land, sea, or in the air or in any combination thereof and vehicles of all descriptions, whether propelled or assisted by means of petrol, diesel, spirit, steam, gas, electrical, animal, or other power, and of internal combustion and other engines, chassis-bodies and other components, parts and accessories and all machinery, implements, utensils, appliances, apparatus, lubricants, solutions enamels and all things capable of being used for, in, or in connection with maintenance, and working of motors.
Main objects of BPO Company
To carry on the business of providing outsourcing services for all processes, sub Processes, transactions, activities and all other work performed by business in various industries within India and across the world. This includes those process or sub processes that are enabled by information technology. It also includes date, voice or video collection and processing, call centre services including in bound and out bound calling services of all kinds, technical support, managed data centre, managed technical centre, training centre, web support back office, business or financial analysis, scientific analysis, research work and analysis, storage, disaster recovery, accounting, pay roll, inventory management, customer relationship management, enterprises resources planning and to develop software, provide consultancy, software solution and services that are normally offered by the outsourcing business and information technology services providers, the software development houses and application services providers.
Transfer of Shares in Private Limited Company
Transfer of Shares in Private Limited Company is not freely transferable but there are restrictions on transfer, shares of Private Limited Company can be transferred in accordance with the provisions of Companies Act, 2013
Shares are transferred by the person is the shareholder of the Company to another person but he must give a letter to Private Limited Company of which he wishes to transfer shares mentioning that He wants to transfer a certain number of shares of the company as the shareholders of Private Limited company cannot freely transfer shares to anyone. The Company will intimate the same to all the existing shareholders of the company. Once the No Objection Letter or Consent to purchase is received the share transfer deed in form SH-4 is to be executed between Transferor and Transferee and the consideration for the transfer of shares to be paid by the transferee to the transferor.
The Executed SH-4 along with Original Share Certificate and Copy of Identity Proof (PAN) is sent to Company for Registration of Transfer of Shares by Company and Company shall make approve the transfer of shares if all the formalities regarding share transfer are complete in all respect and after which company will make necessary entries in the register of members of the company.
Stamp Duty on Transfer of Shares: The Share Transfer Stamps are to affixed of the value of 0.25% for consideration of transfer on SH-4 (Instrument of Transfer ) and are required to be crossed.
Let us understand with an Example: If you want to Transfer shares of Rs. 2 Lakhs for total consideration than you have affix share Transfer of Rs. 200000*0.25% = Rs. 500
Stamp Duty on Shares held in Demat Form: No Stamp is required to paid if Shares of Private Company are held in Demat Form.
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Annual Filing of Financial Statements For One Person Company (OPC ) for Financial Year 2016-17
Every One Person Company (OPC) is required to File there Audited Financial Statements to Registrar of Companies every year. As OPC is not required to hold Annual General Meeting of Company the due date for Filing of Financial Statement is 29th September, 2017 . If any One Person Company Fails to File Financial Statements within Due Date than Additional Fee is required to Paid along with Normal Fee.
Let us Understand With Example :
Case 1. If you file on or before 29th September, 2017: You have to Pay Normal Filing Fee (i.e. Rs. 300 if Authorized Share Capital of Company is up to Rs. 1 Lakh )
Case 2. If you File after due date : You have to pay Normal Filing Fee plus Additional Fee up to 2 times of Normal Fee for next 30 days and this will increase with delay of every 30 days thereafter and will go up to 12 times of normal filing fee.
If you own a One Person Company it is high time to file Financial Statements of OPC at the earliest so you may save additional fee.
You may also avail Fastlegal Annual filing Services to get your every Filing done on time.
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Guide to Private Limited Company Registration In India
Private Limited Company is the most common incorporated business organisation in India. It limits liability of its members & has a perpetual succession. For starting a Private Limited Company minimum 2 members and directors are required. In this article we provide a comprehensive guide to Private Limited Company registration as per the provisions of Companies Act,2013.
Overview of Legal Structures For Organizing A Business In India
Private Limited Company is the most popular structure for businesses and startups. Private Limited Company allows outside funding & Foreign Direct Investment easily. Private Limited Companies are required to hold Board Meetings,Register Secured Loans with Ministry of Corporate Affairs,Hold Members Meeting for Important matters,Make complete disclosures about important matters in their Board Report. Due to all these regulatory disclosures and requirments imposed on Private Limited Company by Company Law they tend to be viewed with more credibility than a Limited Liability Partnership (LLP), One Person Company (OPC), or General Partnership.
Limited Liability Partnership is suitable for Service based industry (for example-web designing,architects,doctors etc.). In comparison to general partnerships it limits the liability of its Partners. However, if you’re looking to raise venture capital or attract talent with employee stock options, private limited is the way to go as LLPs cannot easily accommodate it.
General Partnership Firm is thought to have lost its relevance since the introduction of the Limited Liability Partnership (LLP) because its partners have unlimited liability, which means they are personally liable for the debts of the business. However, low costs, ease of setting up and minimal compliance requirements make it a sensible option for some, such as home businesses that are unlikely to take on any debt. Registration is optional for General Partnerships.
Incorporation of Private Limited Company
Following are the steps involved in Incorporation of a Private Limited Company in India:
Obtaining Digital Signature:
Digital Signature is required to sign Incorporation application and other forms for regular compliance needs,It is issued by certifying authority (like Sify,Tcs etc.). Following are the documents required for obtaining Digital Signature for Directors:
1.) For Indian citizens & residents:
a.) Copy of Pan Card
b.) Copy of Driving license/Passport/Aadhar Card/Voters’ Identity Card
c.) Dully filled and signed Digital Signature Form.
2. For Foreign Nationals:
a.) Copy of Notarized or Appostilled Passport if the country is a party to hague convention.
b.) Dully filled and signed Digital Signature Form.
Director Identification Number and Name Approval:
As per the provisions of Companies Act,2013 every person intends to be appointed as a Director in a Company must have a Director Identification Number (DIN). After obtaining Digital Signature DIN may be obtained easily and quickly by filling E-FORM DIR-3 which require copy of Pan card and Copy of Copy of Driving license/Passport/Aadhar Card/Voters’ Identity Card as attachments. After completing this Form and attaching relevant documents this form is required to be Digitally Signed by the applicant and must be Certified by a Practicing Company Secretary or Chartered Accountant or Cost Accountant in Whole Time Practice.
After obtaining DIN of at least 2 Directors application for Name approval may be filled using E-FORM INC-1. Care must be taken while applying for Name approval, Name of proposed Company must not resemble with an already registered Company and a Registered Trademark or with the mark for registration of which Trademark application has been filled.
Drafting of Memorandum and Articles of Association of Proposed Company:
Once the name is approved by Registrar of Companies it is available for 60 days which means if you does not file application for Company Incorporation within 60 Days the name is not reserved for you and it is available to public for registration. For Filling application for Incorporation of Company you must have Draft Memorandum and Articles of Association of Proposed Company which are bye laws of Company.
Subscribing to Memorandum and Articles of Association:
By subscribing to Memorandum and Articles of Association members agree to become member of Proposed Company. Following are the manner for Subscribing to Memorandum and Articles of Association:
1.) If all the members are indian resident Individuals: Subscriber sheets of Moa & Aoa must be signed by respective individuals stating the shares subscribed against their name in Moa Subscriber Sheet.
2. If members include Body Corporate or only Body Corporate are members: Subscriber Sheet must be signed by nominee of Body Corporate who is authorized by a resolution passed by Board of Directors for subscribing on behalf of Company and other individual subscribers.
3. In case foreigner are members of proposed Company: Subscriber Sheet of Moa & Aoa is required to be signed by respective individual or nominee of Body Corporate and must be Notarized by Noatary Public of that Country if the country is not a party to hague convention if that country is a party of hague convention than it must be appostilled accordingly.
Filling of Incorporation Application:
Once all the above processes are completed than incorporation application may be filled using the forms available on website of Ministry of Corporate Affairs.
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