Dear amitcholle,
The Companies Act, 1956 Bare Act
Definitions of "private company"
(iii) "private company" 5[means a company which has a
minimum paid-up capital of one lakh rupees or such higher paid-up capital as may be prescribed, and by its
articles,-]
(a) restricts the right to transfer its shares, if any;
(b) limits the number of its members to fifty
(c) prohibits any invitation to the public to subscribe for
any shares in, or debentures of, the company;
6[(d) prohibits any invitation or acceptance of deposits
from persons other than its members, directors or their
relatives:]
Provided that where two or more persons hold one or more shares in a company jointly,
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Definitions of "public company"
7[(iv) "public company" means a company which-
(a) is not a private company;
(b) has a minimum paid-up capital of five lakh rupees or
such higher paid-up capital, as may be prescribed;
(c) is a private company which is a subsidiary of a company which is not a private company.]
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Thanks & Regards,
R.Chandrasekar
Accountant
Mobile: +91-9344564849
E-mail: [Login to view]
Skype: visionsekar
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