7
Question
In a private company, there must not be less than_________.
In a private company, there must not be less than_________.
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Solution
The correct option is A Two Persons
A private company is the one which has a minimum paid up share capital of Rs. 1 lakhs or such higher capital as prescribed by the Companies Act. Its Article of association mentions that the company restricts the right to transfer its shares; limits the number of its members from 2 to 50.
A private company is the one which has a minimum paid up share capital of Rs. 1 lakhs or such higher capital as prescribed by the Companies Act. Its Article of association mentions that the company restricts the right to transfer its shares; limits the number of its members from 2 to 50.
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