Private Limited Company
Sec 2 (68) –
It is a closely held Company and requires at least two or more persons, for its formation. A private Company is not traded publicly.
Requirements:
- Minimum 2 or more persons to act as Subscriber to the Memorandum for its set up.
- Minimum 2 Directors {the above members may act as a director}
- Minimum Capital Requirement (No minimum capital requirement) But incorporation with 5 Lacs or 10 Lacs capital save cost of applicant.
- Company restricts the right to transfer it shares.
- Except in one person Company, limits the number of members to 200.