A Private Limited Company can be incorporated by minimum two members and maximum number of members could be two hundred.

Such entity enjoys higher degree of flexibility compared to a public company through various exemptions/ relaxations provided in the Companies Act.

This is the most popular legal structure of businesses among small ventures aspiring to grow, medium sized business, an IT Startup etc., who plans to raise capital from the traditional sources or modern-day financial institutions. Even the Angel Investor, Venture Capitalist, Private Equity players etc. prefer a Private Limited Company over a Limited Liability Partnership. 

It is easier for a Private Limited company to raise Equity or Debt finance through variety of instruments as per its suitability.

Advantages of Private Limited Company:

• Ideal for a startups and Growing businesses.
• Suitable for Fund Raising
• Corporate identity with limited Liability
• Can be started with only 2 promoters.
• No Stringent requirement as to maintaining minimum capital.
• Lesser regulations compared to Public Limited. 
• Can be converted to Public limited for Initial Public Offering (IPO)

Requirements for Registering a Private Ltd Company in India:

Directors and Members:
As per the Companies Act of 2013, minimum of 2 directors cum members are required for Private Limited Company Registration in India. Directors are required to obtain a Director Identification Number (DIN) issued by the Ministry of Corporate Affairs (MCA).

In Addition, at least one director must be a Indian Resident, having spent a minimum of 182 days in in India in the preceding calendar year.

Name of the Company: The business name should accurately convey the primary business activity of the company.

Address of the Registered Office: It is mandatory for a company to have a permanent address of its registered office. Legitimate address proof such as Ownership documents, Rent Agreement, No Objection Certificate etc. are required to be furnished with registration application.   Additionally latest utility bills also need to be submitted. 

This office serves as the Centre for business operations, official registered location, housing all necessary company documentation.

Main Business Objective: It is crucial to identify the core business purpose of setting up the company besides other ancillary activities.   

Memorandum of Association (MOA) and Articles of Association (AOA):  MOA s defines the Constitution of the company  while the AOA highlights internal layout for the management to operate the business.  Both these documents are crucial covenants required to be submitted at the time of registration. 

Promoters:  All the KYC documents of every promoter.