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The main law regulating Private Limited Companies is the Companies Act 2013. [21] Prior to 2015, the shareholders (known as members) had to pay a minimum of ₹ 1 lakh (equivalent to ₹ 1.5 lakh or US$1,800 in 2023) as a subscription amount to incorporate a private limited company. [22] A private limited company can have at most 200 members.
A private limited company is a limited company incorporated under the Companies Act 2013 (or one of its predecessor acts), with a minimum paid-up share capital (if any) of ₹ 1 lakh (US$1,200), with an article that restricts the transfer of its shares; it may have between two and two hundred members, and its name ends with "Private Limited ...
A private limited company is required to use the words "(Private) Limited" as the last words of its name. Company Limited By Guarantee; Means a company having the liability of its members limited by memorandum to such amounts as the members may respectively undertake to contribute to the capital of the company in the event of its winding up.
Private companies may be called corporations, limited companies, limited liability companies, unlimited companies, or other names, depending on where and how they are organized and structured. In the United States but not generally in the United Kingdom , the term is also extended to partnerships , sole proprietorships or business trusts .
A private limited company's disclosure requirements are lighter, but its shares may not be offered to the general public and therefore cannot be traded on a public stock exchange. This is the major difference between a private limited company and a public limited company. Most companies, particularly small companies, are private.
Malaysia uses Sdn. Bhd. (Malay: Sendirian Berhad), meaning "private limited", which is the equivalent of an incorporated entity in the US. Singapore uses Pte. Ltd., meaning "private limited", which is the equivalent of an incorporated entity in the US. [15] Dubai uses "LLC" to denote a limited liability company. Listed companies use "PJSC" to ...
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A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . [ 1 ]