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Minimum seven shareholders of the company are required to form a company.
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Minimum 3 directors are required to form this business entity. At least one director must be a resident of India. It is important to note here that shareholders and directors can be the same.
- As per the Companies Act, 2013 there is not limit for the maximum number of members in a public company, the minimum number should be seven (7) but maximum number can be unlimited.
Public Company: A public company means a company which (a) is not a private company; (b) is a company which is not a subsidiary of a private company. Private Company: A private company is one which by its articles of association: (a) Restricts the right to transfer its shares; (b) A private company must have at least 2 persons, except in case of one person company; (c) Limits the number of its members to 200 (excluding its employees).
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