A Private Company is a company that has a minimum paid-up capital as may be prescribed and which, by its Articles of Association (AoA):
Restricts the right of members to transfer shares.
Limits the number of its members to 200 (excluding current and former employees who are members).
Prohibits any invitation to the public to subscribe for any securities of the company.
Reference: Section 2(68) of the Companies Act, 2013
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