Private Limited

• August 17, 2023
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A private limited company is one whose articles of organization restrict the transferability of shares and forbid the public from subscribing to them, as defined by the Companies Act of 2013. This distinguishing characteristic sets private limited corporations apart from other varieties of public companies. There is a need to understand more about the various business entities in India and their legal provisions due to the country's fast commercial expansion. This article explains what a private limited company is, looks at some of the many kinds, and explains how to form one. According to Section 2 (68) of The Companies Act, 2013, a private limited company is a distinct legal person with limited liability that is privately held. Unlike other public firms, it does not provide its shares for free transfer to the general public. In a private limited corporation, the firm alone is responsible for all business losses and obligations, and shareholders may not be held liable for debts acquired by the company.

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