Question

State the important privileges available to a private company.

Answer 1

Answer:

Important privileges available to a private company are as follows :

• Private company need not issue of prospectus or file a statement in lieu of prospectus before raising capital and allotting the shares to its member.
• Restriction regarding for the issue of capital do not apply on private companies.
• Restrictions on starting of a business does not apply on private companies.
• Holding a statutory meeting and submission of statutory report is not necessary for a private company.
• Provisions relating to general meetings ,if articles of company otherwise provide , do not apply to private companies.
• Ceiling on maximum managerial remuneration is not applicable to private companies.

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Compare the status of a minor in a Joint Hindu family business with that in a partnership firm.

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Answer 2

Answer:

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