There are two things to keep in this. One, the shares can’t be traded and two, the number of members are limited. 

Advantages

1. Limited Liability 
2. Separate Legal Entity
3. Continuous existence
4. Easy transferability 
5. Better borrowing capacity 
6. Owning property

Process

Private Limited Company Registration

Ram Bhuvnesh Co can incorporate a Private Limited Company in 7 to 10 days, subject to ROC processing time.

Obtaining DSC & DIN

Digital Signature Certificate(DSC) and Designated Partner Identification Number(DPIN) is required for the proposed Partners of the LLP. DPIN and DSC can be obtained for the proposed Partners within 2-3 days.

Name Approval

A minimum of one and a maximum of two proposed names must be submitted for RUN (Reserve Unique Name)to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 2 to 3 business days.

Company Registration

Registration documents can be submitted to the MCA along with an application for registration. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.

Documents required for Company

Related to Proprietor:

1. PAN
2. Aadhaar
3. Photograph

Of Directors:

1. Copy of Cancelled cheque
2. Bank statement
3. First page of Passbook

Bank account details

1. Copy of Cancelled cheque
2. Bank statement
3. First page of Passbook

Proof of Principal Place of business :

1. Owned office: copy of utility bill/ Property Paper
2. Rented office : Rent agreement copy/ NOC from the Landlord