Distinguish between the following.
Private Limited company and Public limited company
|Basis of Difference||Private Limited Company||Public Limited Company|
|Number of members||Minimum: 2
Maximum: No limit
|Number of directors||Minimum two directors are
|Minimum three directors are required|
|Rs 1 lakh||Rs 5 lakhs|
|Prospectus||Not compulsory to issue
prospectus or a statement in
lieu of prospectus
|Compulsory to issue prospectus or a
statement in lieu of prospectus (in case
of absence of prospectus).
|Minimum subscription||Minimum subscription is not
required for a private
|Minimum subscription is required for a
|Share certificates||It cannot issue share
|It can issue share certificates.|
Concept: Concept of Company
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