The company can operate on its own name simply by opening a bank account to own assets and enter into contract with parties. This also provides right to sue third parties in case of any defaults.
Private limited company is popular and well known business structure. Corporate Customers, Vendors and Govt. Agencies prefer to deal with Private Limited Company instead of proprietorship or normal partnerships.
The company’s obligation or debts does not create a charge over the director’s personal assets. Their liability stays limited only to the capital subscribed and unpaid by them.
Private Ltd. is easy to wind up in case of loss. Along with Fast track exit route, very less documentation and cost is involved in selling a Pvt. Ltd. company.
Pvt. Ltd. company enjoys wide options to raise funds through bank loans, Angel Investors, Venture Capitalists, in comparison to LLPs and OPCs.
Pvt. Ltd. Company can avail Startup India benefits like Income tax exemption for 3 Years, Self certification facility, Seed Funding support & many other benefits