Hello all in last blog we came to know about what is company and its features , now let us see what is private limited company
Company means a artificial person created by law having separate legal existence.
Private limited company cannot issue it’s share to public at large like public company , What is limited in private limited company. That means liabilities of shareholders is limited to the extent of their shareholding in case of paying dues of company
More features :
1. company Will have perpetual existence unless closed , dissolved by legal procedure.
2. If all share holders are changed or even all are dead the new set of shareholders will continue to run company.
3. company is having separate legal entity. Have its own name and address and registration number.
4. In private limited company min. No. of shareholders is 2 and maxi. 200.
5. Min. 2 and maxi. 15 directors will be there.
6. Company do not have its own body but it works through it’s Directors by authorizing it’s Directors to act on its behalf and took decisions on behalf of company .
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