Private Company: A private company is one which has minimum paid up. Share capital as may be prescribed and which by its Articles of Association.
- Restricts the right to transfer its shares if any.
- Except in the case of one person company limits the number of its numbers excluding its present or part employee members to 200.
Where shares are held by two or more persons jointly they shall be treated as a single member.
- Prohibits any invitation to the public to subscribe for any securities of the company.
A private company must have atleast 2 members. The name of a private company ends with the words “Private Limited”.
