BASIS OF DIFFERENCE COMPANY LIMITED L

Limited Liabi
Companies are prevailed by ‘Companies
Prevailing Law Liability Par
Act, 2013’
thereunder

Capital Required Normally Rs. 1 Lacs No minimum

Time of Registration 7-10 days in complete process 7-10 days in c

Name to contain ‘Private Limited’ in case Name to cont

Name of Entity
of Private Company as suffix. suffix.

Registration with Registrar of ROC

Registration Registration w
required.

Minimum Statutory fee for incorporation The cost of F

Cost of Formation
of Company is Relatively High lesser than th

Memorandum and Article of Association LLP Agreeme

Charter Document is the charter of the company that defines scope of oper
its scope of operations. vis LLP.

Various eforms along the Memorandum

& Articles of Association are filled with Various eform
Formalities of Incorporation
Registrar of Companies with prescribed prescribed fee
fees
 2 to 200 members in case of Private Minimum 2 p
Number of Members
Company number of pa

Limited, to th
Generally limited to the amount required
Liability of Partners/Members in case of inte
to be paid up on each share.
commission b

Regulations r
Transfer / Inheritance of Rights Ownership is easily transferable.
Agreement .

In case of dea
Transfer of Share / Partnership In case of death of member, shares are get the refund
rights in case of death transmitted to the legal heirs. accumulated
partners

Each director is required to have a

Director Identification Number /
Director Identification Number before Each Designa
Designated Partner Identification
being appointed as Director of any being appoint
Number (DIN / DPIN)
company.

A person can become member by buying A person can

Admission as partner / member
shares of a company. Agreement

A person can
A member / shareholder can cease to be a
Cessation as partner / member or in absence
member by selling his shares.
the LLP.
Requirement of Managerial
Personnel for day to day
administration
Statutory Meetings
Maintenance of Minutes
Voting Rights
Remuneration of Managerial
Personnel for day to day
administration
Contracts with Partners/Director
Share Certificate
Directors are appointed to manage the
Designated P
business and other statutory compliances
day business
on behalf of the members.
Board Meetings and General Meetings
are required to conducted at appropriate There is no p
time.
The proceedings of meeting of the board
A LLP by agr
of directors / shareholders are required to
meetings of th
be recorded in minutes.
Voting rights are decided as per the Voting rights
number of shares held by the members. Agreement.
Company can pay remuneration to its
Remuneration
Directors subject to law.
Restrictions on Board regarding some
specified contracts, in which directors are Partners are f
interested.
Share Certificates are proof of ownership
The ownershi
of shares held by the members in the
LLP Agreeme
Company
 All LLP exce
Companies are required to get their
Lacs or Rs.25
Audit of accounts accounts audited annually as per the
required to ge
provisions of the Companies Act, 2013
provisions of

Applicability of Accounting Companies have to mandatorily comply The necessary

Standards. with accounting standards standards are

Provisions providing for remedy against No provision

Oppression and mismanagement
Oppression and mismanagement exists mismanagem

Due to Stringent Compliances &

Will enjoy Co
disclosures under various laws,
Credit Worthiness of organization Partnership d
Companies enjoys high degree of
than a compa
creditworthiness.