Company registration in Chennai- Guindy
Company registration in chennai- guindy is made very simple in this era. An organization is a legal entity formed by a group of people engaged in business activities to get profit. The business range chosen by the company determines the type of entity the business chooses. Company registration in guindy Chennai is the registration of a company under the jurisdiction in which they operate. Depending on the nature of your business, your company may be owned by a single person or group of individuals. If you run an unrecognized business, you are more likely to lose the unique name of your company to someone who has already registered his company. You cannot legally sue the person for this action. Company registration avoids such situations and can also serve as authentic proof of your business.
Types of Companies
Company registration in Chennai states about the types of Companies. They are:
- Private limited Company registration
- Public limited Company registration
- One Person Company registration
- Limited Liability Partnership Company registration
Private limited company registration
Private limited company registration means it is incorporated as private company as per the section 2 (68) of the company’s act 2013.More than 2 persons can join and can be treated as single member. The private limited company requires to add private limited. The private limited Company is restricted to transfer the shares as per the pre-emption clause. It has the limited liability structure. Companies offer certain key advantages.
Features of private limited company
Making Money:
Making money out of a small business and being the sole owner or partner is difficult. Under the Companies Act 2013, a company can sell shares to the public and therefore raise money more easily than other types of business structure. There are a number of methods of financing business conducted by the company.
Selling business:
Company registration in Chennai implies that it is much easier to sell a business to a company than any other form of business. The value of the business corporation depends on the business, so it makes it easier to sell the company.
Good governance:
Companies are governed by the Companies Act, 2013 and must comply with a number of other regulatory policies governed by it, as well as the strict disclosure regulations that they authorize, which allow for better governance for employers.
Multiple relationship with directors:
Company registration in Chennai states that any director in a private limited company can handle multiple relationships. The former private limited company can create a contract with its own director of credit debit or transactions.
Permanent Inheritance:
The Company registration in Chennai is done for a private limited company is constantly inherited. Permanent inheritance means that the company exists even if the member dies or ceases to exist. Changes in management do not affect the identity of the company, the company has the same powers, immunity, estates and assets. The company will exist until the injury in accordance with the provisions of the relevant law.
Public limited Company registration
The public limited company is administered by the ROC. It can be formed with minimum of 7 members and three directors. Mostly the companies that require huge amount of capital as investment prefer to have public limited company. Company registration in Chennai states that the shares of the company is easily transferable. The board of Directors cannot impose the restrictions. They can issue shares subject to regulation of SEBI. The public limited company is said to form under New Companies Act 2013.
Features of Public limited company
Minimum number of shareholders – You need at least 7 members to join a public company.
Company Name – Every public company must have the word “Limited” at the end of the company name.
Liability – The liability of each member of a public company shall not exceed the amount invested in the shares of the member. This limit is non-extendable.
Issuance of Securities – There is no limit on the issuance of securities to the public. The company may issue a bonus issue through an initial public offer (IPO) or through a private placement. Also, the securities must be issued by the Company in a dematerialized format.
One person Company registration
OPC Company registration in Chennai states that One Person Company (OPC) concept is new in India and is very popular abroad, including in Singapore, USA and Europe. Currently, this is a grey area, only time will tell how far it will work in India.
Features of One person Company
- OPC Company registration in Chennai states that company may be a One Person Company (OPC), which requires only one person as a subscriber to set up a company and such a company is legally considered a private company.
- An individual, if an individual registers a company, is not eligible to join the company of more than one person
- The memorandum of the OPC must specify the name of a person (other than the subscriber) who, with his prior written consent, becomes a member of the OPC when the subscriber dies or fails to contract.
- An individual nominee for a company memorandum is not eligible to become a nominee for more than one such company.
Limited Liability Partnership
LLP Company registration in Chennai states that Limited liability partnership is a combination of both partnership and corporation. It has the feature of these two forms. As the name implies, the partners in the company have limited liability, meaning that the personal assets of the partners are not used to pay off the company’s debts.
Company registration in Chennai states the Features of LLP
LLP is a body corporate
LLP is a body corporate, formed and it is a legal entity and it is separate from its partners.
Permanent legacy
Unlike a general partnership, a limited liability partnership can continue to exist even after retirement, insanity, bankruptcy, or the death of one or more partners. Furthermore, it enters into contracts and holds property in its name.
Separate the Legal Entity
Like a corporation or organization, it is a separate legal entity. Furthermore, it is fully responsible for its assets. Also, the partners’ liability to the LLP has some limitations on their contribution. Therefore, the creditors of the LLP are not the creditors of the individual partners.
Mutual agency
Another difference between an LLP and a partner company is that a partner’s independent or informal actions do not hold other partners accountable. All partners are agents of the LLP and the actions of one partner do not bind others.