Which of the following does NOT relate to privileges available to a private company?1Only two directors are required to constitute the quorum to validate the proceedings of the meetings.2Limit on payment of maximum managerial remuneration applies to a private company.3It can commence its business immediately after incorporation.4Holding of a statutory meeting or filing of a statutory report is not required by a private company.Answer & explanation+Correct answer: option 2Limit on payment of maximum managerial remuneration does not apply to a private company.
