Question

Among following which statement is not true about a private company?

Options

• Minimum paid-up capital is 5,00,000

• The private company ends with the words ‘Private Limited’.

• Restriction on the right to transfer its shares

• Atleast 2 directors

Answer 1

Minimum paid-up capital is 5,00,000.

Explanation:

A private company's minimum paid-up capital is 1,000,000. A private company's shares cannot be transferred, and all private firms' names finish in 'Private Limited.' The business can have a minimum of two directors and a maximum of fifteen.