1.

Classify the companies on the basis of a number of members.

Answer»

Following are the companies on the basis of a number of members: 

1. One Person Company – 

A company having a single member is called the oneperson company. Their liability is unlimited. 

2. Private Company – 

A private company, under Companies Act, means a company having authorised paid-up capital and which restricts by its articles – 

  • The right of members to transfer their shares. 
  • The number of its members (except OPC) is limited to 200. 
  • Prohibits any invitation to the public to subscribe to its shares and debentures. 

3. Public Company – 

All the companies other than Private Companies or any company which does not have restrictions like the private company are called the public company.


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