Legal Question in Business Law in India

Re: Best options between Privet Limited and Limied

Dear

Considering the facts of your query, I would advise you to go for a private limited company. You can incorporate a private limited company by converting your firm or by acquiring the assets and business of the firm at a later stage. As you have mentioned that you already have 5 DINs and 12 prospective shareholders it would be an easy and quick process. For your information please note that in India there are two types of basic companies viz. Private Limited and Public Limited Companies. Public Companies have freedom to raise money from public at large but are more strictly subject to the provisions of the Companies Act, 1956 while the Private Companies have more liberty and many strict provisions of the Act do not apply to such Companies. Though they are not allowed to raise money from public and their members cannot exceed 50 in numbers.

With respect to registration under PF, ESI, VAT and CST please note that once the firm is converted into or acquired by the new company the status / existence of firm will come to an end. Hence the Company will have to apply for fresh registration from the concerned authorities. If you desire to obtain more details please feel free to contact me at 9818812818 (New Delhi) or mail me at [email protected]

Warm regards,

Naved ASKARI

Re: Best options between Privet Limited and Limied

Please contact personally alonwith details.

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Re: Best options between Privet Limited and Limied

As you say that yours is a Firm in my opinion you may go for a private ltd company.Once you have formed a pvt ltd company after some years of successful business and profits you may opt for public ltd or deemed ltd company as per your requirements wish and will.