section 2 defentions

private company means a company which have 3 restrictions on it

1) restricts the transfer of shares
[I.e., members can't transfer their shares freely unlike public company....]

2)except in case of opc, no.of members are limited to 200

[ while counting no.of members:-
a)joint share holders are counted as single member
following members are excluded
1) employee members
2) ex- employee members
( employees who have shares in the company)

3)it is prohibited from inviting public for subscripttion of securities unlike public company