Changes to the legal description of what constitutes a 'Private Company in the context of Indian Law, especially the Companies Act, 1956 / 2013 and the Companies Amendment Act, 2015.

1. Private Companies in
India - Definition
Companies Act, 1956
Companies Act, 2013
Amendment Act, 2015
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2. Private Companies
Definition Companies
Act, 1956
Companies
Act, 2013
1st
Amendment
2015
a company which has a minimum
paid-up capital
  
of one lakh rupees or such higher
paid-up capital
  
as may be prescribed   
by is articles:   
restricts the right to transfer its
shares, if any;
  
limits the number of its members to
fifty
  
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3. Private Companies
Definition Companies
Act, 1956
Companies
Act, 2013
1st
Amendment
2015
except in case of One Person
Company, limits the number of its
members to two hundred
  
not including:
(i) persons who are in the
employment of the company; and
(ii) persons who, having been formerly
in the employment of the company,
were members of the company while
in that employment and have
continued to be members after the
employment ceased;
  
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4. Private Companies
Definition Companies
Act, 1956
Companies
Act, 2013
1st
Amendment
2015
prohibits any invitation to the public
to subscribe for
  
any shares in, or debentures of, the
company
  
any securities of the company   
prohibits any invitation or acceptance
of deposits from persons other than
its members, directors or their
relatives
  
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5. Thanks
For queries / concerns mail :
gupta.satya.prakash@icai.org
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