There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the options given below.

Assertion (A):  A company, whether public or private, can have any number of shareholders.
Reason (R):  A public limited company can have any number of shareholders but a private company can have a maximum of 200 shareholders excluding its past and present employees.

Assertion (A) is not correct but the Reason (R) is correct.

A private company must have at least 2 persons, except in case of one person company and Limits the number of its members to 200 (excluding its employees);