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The differences for Private Limited Company and Public Limited Company are explained as under: · Definitions: Private Limited Company: As per the Companies Act 2013 "Private Company is a company which has a minimum paid-up capital of Rs 1 lakh Rupees and which is restricted to have the right to transfer the share. Public Limited Company:As per the Companies Act 2013" A public Company is a company which is not a private company and has a minimum paid up capital of Rs 5 lakh Rupees and have a right to transfer of shares of a company. · Number of members: There should be minimum 2 members to start a Private Limited Company and maximum ceiling of 200 members. In case of Public Limited Company minimum 7 members should be there and no ceiling on maximum number of members. · Number of Directors: There should be minimum 2 Directors in case of Private limited Company and minimum 3 directors in case of Public Limited Company. · Statutory meeting: A Private company has to hold a statutory meeting within 30 days of Company Incorporation and Public Company has to hold statutory meeting as well file the statutory report with ROC. · Transferability of shares: Articles of Association of restrict the transferability of share in case of Private Limited Company and In case of public limited company there are no such restrictions. · Share Subscription: A private company has no right to invite public for subscription. As opposed, a public company can invite the general public for subscribing shares of the company. · Managerial Remuneration: Total managerial remuneration in the case of a public company cannot exceed 11% of the net profits but in the case of inadequacy of profits a minimum of Rs 50,000 can be paid. These restrictions do not apply to a private company. Conclusion: It is clear from the above points that both the business structure has its own merits and demerits. Private Limited Company is basically suited for the start-ups with limited capital inv

International day for persons with disabilities on 3rd December - Note on schemes for the welfare of persons with disabilities and concessions available to them. The Government of India is committed for the realization of full participation, protection of rights, and equal opportunities to all including persons with disabilities. India is a country where most of the population lives in the rural areas and accessing the health and rehabilitation services has always been a challenge. In a Backgrounder issued yesterday, a brief summary of the major steps initiated by the Ministry of Social Justice & Empowerment in this direction were given. Following is the Background Note on the legislative and Institutional framework along with the major schemes of the Ministry of Social Justice & Empowerment for the welfare of the People with Disabilities (PwDs). The Note also contains information on facilities and concessions available to PwDs under other central schemes which are being run by other Union Ministries. OFFER ON INTERNATIONAL DISABILITY DAY Wheelchair @ 4499 INR Tricycle @ 6500 INR Legislative Framework: There are four important legislations dealing on disabilities issues- The Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995, has laid the foundation of recognition of rights for Persons with Disabilities and has facilitated development of specific programmes for their education, rehabilitation, employment, non-discrimination and social security. The Rehabilitation Council of India Act, 1992 regulates and monitors training of rehabilitation professionals and personnel. The National Trust for the welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999, aims at enabling and empowering persons with disabilities to live independently as fully as possible in their community. Mental Health Act, 1987, address to the specific needs of persons with ment

Following are the documents mentioned specifically under Companies Act, 2013 which needs to be maintained by a Private Limited Company: Books of accounts as per the provisions of Companies Act, 2013. Statutory Audit Report signed by Auditor To keep following records or register at the register office of the company: a. Shareholding Pattern in Form MBP-1 b. List of Director c. Related party interest d. Minutes of the meetings prepared in accordance with the provisions of the Act. e. A copy of MOA and AOA. Get further assistance from Experts at LegalWiz.in by contacting at 1800 313 4151 or drop us in an email for further query at support@legalwiz.in

Get the best compliance management software or avail tailor-made corporate governance, risk and compliance services (GRC) at, RSJ-Lexsys, a one stop shop.

Get the best compliance management software or avail tailor-made corporate governance, risk and compliance services (GRC) at, RSJ-Lexsys, a one stop shop.