Private Limited Company Registration is now becoming the most trendeous start up business in India in which Madhya Pradesh is making its place. This is due to various benefits the Private limited Company Registration provides. Although all states have their own compliances and procedures to be followed for opting it. But the Private Limited Company Registration is governed by the Companies Act, 2013. And is required to be registered under the Ministry of Corporate Affairs.

Every state have brought some minor changes in the state policy as per their requirement for Private Company Registration.In Madhya Pradesh, the facilities for start ups business is expanding its way. Business such as Manufacturing, business services, selling, import,export, etc. has the sources availability, facilities, services, etc to the best for business step up.  Thus Madhya Pradesh is now an emerging state for Private Limited Company Registration.  

In this blog, we will discuss about Private Limited Company Registration in Madhya Pradesh and its procedure.

What is a Private Limited Company Registration?

Creating a Private Limited Company is one of the most common ways to launch a business in India. The Ministry of Corporate Affairs oversees Private Limited Company Registration, which is conducted in accordance with the Companies Act of 2013^[1]. A Private Limited Company offers its shareholders limited liability and legal protection. It is acorporate structure that gives a company a legal identity distinct from that of its owners. The Private Limited Company has no connections to the public and is not permitted to demandany security from the private or public sector. The inability of people to transfer shares in this type of company prevents large corporations from acquiring Private Limited Companies.

Basic Conditions for Online Private Company Registration in Madhya Pradesh

A Private Limited Company in Madhya Pradesh must meet a few requirements before being registered;

• A private company must have a minimum of 2 shareholders in order to be formed, although it can have up to 200 members overall, as per the Companies Act of 2013. Because they are not required to surrender their own assets for the cause, shareholders of a private limited corporation should only have limited culpability if the company faces financial peril.
• In order to register a corporation online, there must be a minimum of two directors and a maximum of 15 directors. Additionally, the proposed director must be at least 18 years old. In Madhya Pradesh, any foreigner may be elected as a director of a private limited corporation.
• It is not necessary to have the minimum paid-up capital in order to register a Private Limited Company. But every Private Limited Company should be suffixed with “Pvt. Ltd.”
• The name of the Private Limited Company needs to be distinctive from those of any other registered businesses or trademarks. Prior to registration, it is best to stay away from any offensive names for your planned firm.

Documents needed for Private Limited Company Registration in Madhya Pradesh

The following are the documents required for Private Limited Company Registration in Madhya Pradesh;

• Documents from the company’s directors and shareholders
• Identification documentation for each director and shareholder of the company. 
• Pan Card
• Aadhar Card
• Proof of address for all the directors and shareholders, including a driver’s license and passport. 
• Most recent phone bill (not older than 2 months)
• Most recent electric bill (not older than 2 months)
• Bank account statement with each director’s DSC and address DIN

Documents for the Company

Proof of the company’s registered office. The following documents must be provided as proof of the company’s address:

• Agreement of lease or rent between the company and the landlord.
• A letter or notice of consent (NOC) from the landlord granting authorization to use the space as the registered office of the corporation.
• Sale agreement for the company’s office space in their names
• The Memorandum of Association (MoA), outlines the purposes for which the business will be incorporated as well as the members’ legal obligations.
• The company’s operating rules are set down in the articles of association (AoA).

The Procedure of Private Limited Company Registration in Madhya Pradesh

The following is the step-by-step procedure for Private Limited Company Registration in Madhya Pradesh;

• On the website, select “SPICe+” found under “MCA Services.”
• After entering the new side tab, select “New Application;
• You can select “Existing Application” and provide the application number and the name of the proposed or authorized company.
• Then select “Type of Company.”
• Select “Class of Company.”
• Next, select “Category of Company.”
• Then select “Sub-Category of Company.”
• The next step is to identify the “Main division” of the Company section’s industrial activity.

Following that, when appropriate, you should highlight the “Main Division of Industrial Activity of the Company.”

• The “suggested or approved name” for your business must then be presented in full. In accordance with the guidelines established to manage the Company’s names, click the “Auto-check” button.
• After that, submit “Part A” for name reservation and incorporation procedures.

Follow the Part B instructions, which include a distinct “check form” for each area. 

1. Proposed subscribers and directors

2. Fill out the PAN and TAN tax registration forms.

3. The location of the prospective company’s registered office

4. The business’s resources

• You must perform a “pre-scrutiny” examination. After the Application form has been successfully submitted, a confirmation must be clicked on to display.
• Part B in PDF format must then be downloaded in order to attach the “DSC” and complete any necessary forms (SPICe+ are AGILE-PRO, SPICe+AoA, and SPICe+MoA, INC-9, and URC-1). Then, you can upload Part B of SPICe+ and any associated forms to the MCA portal.
• Following that, a “Service Request Number” (SRN) will be generated to be used to make a payment toward the “incorporation of a private limited company”. Once the payment is made successfully, the forms will be processed.
• If SPICe+ forms collapse due to mistakes being detected during processing, they must be submitted again in the same way.

Conclusion 

A Private Limited Company Registration has various benefits and teh compliances are not so hard to be followed up. One can contact its professional in order to meet the changing requirements of it and geeting the registration in one go.  

Bizadvisors.io offers all types of company registration services or New startup registration services in India at the Best Fee/Cost, if you are willing to start your own Startup business in Madhya Pradesh for Private Limited Company Registration, contact Bizadvisors. Madhya Pradesh is one of the top-rising states in India. Any form of business, including producing goods, offering business services, and selling goods and services, can be carried out with ease in MP because the city has all the facilities and services required to operate a successful enterprise in the state. Contact us for Private Limited Company Registration in Madhya Pradesh.

Read our article:All You Need to Know about Private Limited Company Registration in Kolkata