Question

Distinquish between private company and public company.

Answer 1

Private Company: A private company is one which by it article of association.
1. Restricts the right to its member to transfer shares.
2.prohibits any invitation to the general public to subscribe for its shares.

Public Company:A public company means a company,which is not a private company. According to Indian company Act,a public company in one which.
1.Has a minimum of 7 members and no limit on maximum members.
2.Has no restrictions on transfer of shares..

Answer 2

public company-assets are owned by government.
private company-assets are owned by private individuals.