Question
Which of the following is not a characteristic of a
private limited company under Companies Act, 2013?Solution
As per Companies Act, 2013 a private company is one that: • Restricts the right to transfer shares freely • has minimum 2 members • can have a maximum of 200 members • has minimum 2 directors • uses words “Private limited” in its name To register under the Act, such a company should state a minimum authorised capital of Rs. 1 lakh (note – minimum paid up capital requirement was removed).
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