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Write the difference between the public …

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Write the difference between the public company and private company?

Posted by Amar Verma 6 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 6 years, 5 months ago

<th>BASIS FOR COMPARISON</th> <th>PUBLIC COMPANY</th> <th>PRIVATE COMPANY</th>

Meaning	A public company is a company which is owned and traded publicly	A private company is a company which is owned and traded privately.
Minimum members	7	2
Maximum members	Unlimited	200
Minimum Directors	3	2
Suffix	Limited	Private Limited
Start of business	After receiving certificate of incorporation and certificate of commencement of business.	After receiving certificate of incorporation.
Statutory Meeting	Compulsory	Optional
Issue of prospectus / Statement in lieu of prospectus	Obligatory	Not required
Public subscription	Allowed	Not allowed
Quorum at AGM	5 members must present in person.	2 members must present in person.
Transfer of shares	Free	Restricted

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