What is the difference in Private and Public Companies ?
Companies The small-scale industries may also be incorporated as companies complying with the provisions of the Companies Act, 1956. Incorporation is the Act of conferring judicial personality on a group of associated persons. Private and public company Any seven or more persons or where the company to be formed will be a private company, any two or more persons, associated for any lawful purpose may be subscribing their names to a memorandum of association, form an incorporated company with or without limited liability. A private company means a company which by its articles. – Restrict the right to transfer its shares if any – Limits the number of its members to 50 not indulging. Persons who are in the employment of the company and Persons who have been formally in the employment of the company.
