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1. Members– To begin a company, a minimum number of 2 members are needed and a maximum number of 200 members as per the terms of the companies act 2013.
2. Perpetual succession– The company manages on existing in the eyes of law even in the case of death, distress, the bankruptcy of any of its members. This drives to the perpetual continuation of the company. The life of the company remains on existing forever.
3. Index of members– A private company has a right over the public company as they don’t have to keep a list of its members whereas the public company is needed to maintain a list of its members.
4. A number of directors– When it comes to directors a private company requires to have just two directors. With the presence of 2 directors, a private company can come into services.
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