Private limited company registration in Chennai

The characteristics of a private limited company

Members

In order to start a company, a minimum of 2 members and a maximum of 200 members are require as per the provisions of the Companies Act, 2013.

Limited Liability-

The liability of each member or shareholders is limited. This means that if a company incurs a loss under any circumstances, its shareholders are liable to sell their own assets for payment. The personal, personal property of shareholders is not at risk.

Permanent succession –

Death, bankruptcy, bankruptcy of any of its members is also in the eyes of the company law. This leads to a lasting legacy of the company. The life of the company lasts forever.

Index of Members –

A private company is privileged over a public company as they are not required to keep an index of its members while a public company is require to maintain an index of its members.