CLSP_Incorporation

As per Section 3 of the Act, 

A company may be formed for any lawful purpose by—

(a) seven or more persons, where the company to be formed is to be a public company;

(b) two or more persons, where the company to be formed is to be a private company; or

(c) one person, where the company to be formed is to be One Person Company that is to say, a private company.

No exemption on minimum subscribers has been given to Government entities as per MCA Notification dt. 5.6.15 GSR 463(E).

Any opposing views are welcomed.