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Private Company Formation

What is a private limited company?

Section 3.(1)(iii) of the company Act of 1956, defines a private limited company as--
(a) One which has a minimum of Rs. one Lakh paid-up share capital or more
(b) One which by its Articles Association:

1. restricts the right of the transfer of its share;
2. limits the number of its members to 50 which will not include:-
A. members who are employees of the company; and
B. members who are ex-employees of the company and were members while in such employment and who have continued to be members after ceasing to be employees;
3. Prohibits any invitation to the public to subscribe for any shares or debentures of the company; and
4. Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives.

Also, the minimum number of members in a private company is two, and such a company must have the words “Pvt Ltd” as the last part of its name.

Steps to set up a Pvt. Ltd. Company

Private Company Formation Query Form

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