Features of a Private Limited Company
This type of entity is a privately held Business, i.e. the shares of the company shall not be offered to the public for purchase or in the stock exchange.
Number of Members
A private limited company should have a minimum of 2 members and a maximum of 200 members. The members themselves can be the directors as well.
The company should have a minimum of 2 directors, both should be more than 18 years of age and atleast one director should be a resident of India.
There is no requirement of a minimum paid up share capital w.e.f 2015. A company can be formed with a mere sum of Rs. 10000 as its share capital.