Question

importance of private limited company in detail​

Answer 1

Private company means a company having a minimum paid up capital as may be prescribed and which by it's articles-

1) restrict the right of members to transfer it's shares if any.

2) restrict the number of it's members up to 200.

3) prohibits any invitation to the public to subscribe for any secrurities or deposits of the company

All the above conditions should be fulfilled for a company to be called as private company