The meaning of private company and the manner in which a public company is defined bear out the argument that these two categories of company are naturally exclusive. A private limited company which has become a public company by section 43.The basic difference between of this provision defines one hand a company which is incorporated as a public limited company under section (44) and on the other hand a private company which has become a public company by reason of the registration of section (43).
There are three specific type of company to attend a distinct place in the scheme of companies act they are
A private limited company is in substance of a partnership and the relationship among the members in the matter of the conduct of the affairs of the company should be examined on the footing that they are partners so long as the company continues to be a private limited company registration.The definition of section (3) with in the object of a private limited company may control the shares to transfer and place certain restrictions on it.
To constitute a private company the requirements of sections (3) had to be compiled with and such provisions to be included in the objects.The advantages and exceptions shall fail designated of the specification of company advised on private companies treated as it is not a private limited company.
A private limited company have be deemed to be a public limited company under the following situations.
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