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Private Limited Company
These companies have minimum 2 members and 2 directors with a mandate to use word “private limited” at the end.
It is essential for Private Limited Company to mention following points in its articles:
- Restriction of right to Transfer Shares;
- Maximum Limit of Number of its Members is 200; and
- Prohibition of any Invitation to the Public to Subscribe for any securities of the Company;
Private Limited Company can be divided into 2 categories:
- Small Company : It means a private limited company having paid up share capital upto 50 lakhs and turnover upto 2 crores .
- Other than small company : It is also known as big private company. It includes a private limited company having paid up share capital of more than 50 lakhs and turnover of more than 2 crores.