Private limited company:
Private Limited Company is the most popular form of conducting business in India. Pvt ltd companies are privately held for small scale businesses. The members’liabilities are limited to the extent of shares held by them respectively. Private companies are those companies whose articles of association restrict the transferability of shares. The shareholders cannot be liable beyond the value of the shares.
The shareholders need consent from all other members in order to transfer their shares. Shares in the private limited company are not publicly traded and there should be no offering for public participation. Death, insolvency or bankruptcy of an individual member doesn’t affect the existence of the company. Company is not required to issue a statement of its affairs.
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