What is a Private Limited Company ?
A private limited company is a voluntary association of not less than two and not more than 200 members / shareholders, whose liability is limited, the transfer of whose shares is limited to its members and company is not allowed to invite the general public to subscribe to its shares or debentures. Its main features are : 1. It has an independent legal existence, 2. it can own property in its own name, 3. it can sue or be sued in its own name, 4. it has got perpetual succession. The Registrars of Companies (ROC) are vested with the primary duty of registering companies in the respective states and the Union Territories.