Applicability
The is now applicable to companies
registered under company act 1956 and all other previous company acts.
Exception
- Banking companies
- Insurance companies
- company formed by special acts
- Companies specified by CG.
Private
Ltd Company
Private company is company having
minimum share capital of Rs 100000/- or such higher capital as may be
prescribed.
Restrictions
- Transfer of shares
- Except OPC Maximum 200 members can be form private ltd company.
Note
- Members should not past or present employee of the company.
- Joint members are treated as 1 member.
Public
Ltd company
- Public Ltd company is a company which is not a private ltd.
- Company having minimum share capital of Rs 500000/- or more as may prescribed in articles.
Note
- Private ltd company which is subsidiary of public ltd company becomes public ltd company.
