Private Limited Company is the most alleged Form of doing business and appropriate for people who are looking to raise funding, provide ESOPs, or do business with large corporates, it is a distinct legal entity, which is able to enter into contracts in its own name. Obligations or the Company are the accountability of the company – not the shareholders. Moreover legal compliance for Private Limited is less tedious when compared to Public limited so it is favoured form of starting a new business. For incorporation of Private Company 2 DINs and 1 DSC is required. Also, the process of Closing Private Limited Company has been simplified.