Private / Public Company Registration
Public Company:-
Public Limited Company is a Company limited by shares. In this case, there is no restriction on the maximum number of shareholders, transfer of shares and acceptance of public deposits. The liability of each shareholder is limited to the extent of the unpaid amount of the shares face value and the premium thereon in respect of the shares held by him. However, the liability of a Director / Manager/Officer of such a Company remains unlimited under certain circumstances. The minimum number of shareholders required is 7. The Company must have 3 directors and one of them should be resident of India.
Private Company:-
Private Limited Company is most common and popular format of legal entity in India. It can have minimum two and maximum 200 (Two Hundred) shareholders. Further, the shares of Private Limited Company are not freely transferable under the Companies Act, 2013. The liability of each shareholder is limited to the extent of the unpaid amount of the shares face value and the premium thereon in respect of the shares held by him. However, the liability of a Director / Manager/Officer of such a Company remains unlimited under certain circumstances. The company need to have minimum two directors and can have maximum of fifteen directors. One of the directors of the company must be Resident in India.