Private Limited Company

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CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration. CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration, CBIC chief Vivek Johri said.

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private-limited-company
Description :
Limited Liability Partnership :

 According to Section 2 (68) of the Companies Act, 2013, “a company with limited liability has a regulated minimum share capital and which, according to its articles of association :

1. Restrict the right to transfer your shares.

2. Limit the number of its members to two hundred, except in a partnership consisting of one person.

3. Prohibits inviting the public to subscribe to the company’s securities.

Most Indian startups and companies with higher ambitions choose a private limited company as an appropriate business structure.

Benefits :
LLP Registration :
  • Separate legal entity: A limited liability company is known as an independent legal entity. Entity means anything that legally exists. Therefore, the company can sue and be sued in its own name.
  • Borrowable Amount: A limited liability company enjoys the privilege of raising more capital than an LLP due to the greater borrowing opportunities. Not only are bank loans easier to obtain (compared to OPCs and LLPs), but the option to issue debentures or convertible bonds is always available. Banks and other financial institutions also welcome limited companies over partnerships.
  • Easy Exit: A limited liability company can be sold or transferred in whole or in part to another person or entity without interrupting ongoing business.
  • Eligible And Feasible: To sue is to bring a lawsuit against a person, and just as a person can sue another person on his behalf, a corporation, or another legal entity, You can sue and be sued on behalf of that person.
  • Continuous Presence: The death or withdrawal of a member shall not affect the survival of the company.
  • Full Ownership: A shareholder cannot claim to be the owner of the company’s assets. The company itself is the owner.
  • Dual Relationship: A person in a limited liability company can be a shareholder/employee/director at the same time.

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