As per section 2(68) of companies act 2013, a private company
company, which has &
minimum paid up capital as may be prescribed and by its article, Restrict the right
its share if any. Except in case of OPC, limit its members to 200 excluding present.
member shall be counted as one) and Prohibits and invitation to the public to
securities of the company.
As per sec 2 (71) of companies act 2013, A public company means a company which has such minimum paid up share capital as may be prescribed and which is not a private company. Further, a private company which is a subsidiary of public company shall also be deemed to be a public company for the purposes of this act, even where such subsidiary company continues to a private company in its articles
As per sec 2 (62) of companies act 2013, means One Person Company is a company which has only one person as a member. An OPC is new development in corporate history in India. This forms enable a sole proprietor to convert his firm into a limited liability company and derive the advantage of an incorporated company. It is basically a private company with some unique features. OPC shall be mentioned in brackets below the name of such company, wherever its name is printed, affixed or engraved. This OPC is fit for small business where the turnover is not likely to cross Rs. 2 crore. In OPC registration it’s important to note that the nominee or director should be Indian Resident.
|Private limited Company||One Person Company|
|Recommended for||Start-Ups and Growing company||Possible, but severely unlikely|
|Limited Liability Protection||Yes||Yes|
|Tax Advantages||Few benefits||Few benefits|
|Minimum 2||Moderate||Max 1|