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section 2 defentions
plz classify the section 2 (68) provision...
Replies (1)
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
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
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