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Separate small and simple enactment is desirable for Private Limited Companies

Corporate Laws / Banking / SEBI / LLP - By: - CA DEV KUMAR KOTHARI - Dated:- 9-7-2015 - Private limited companies: Private limited companies are generally incorporated by family members, friends and associates. Even in case of transfer of controlling stake in such companies the transferees are also family members, friends and associates of the transferee group. Restrictions: Under the Companies Act 2013 private limited companies have restrictions about total number of members/ shareholders, rest .....

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etc. For example, a manufacturer will prefer to appoint a private limited company as distributor or agent instead of partnership firm. Similarly banks also prefer to lend to private limited companies in comparison to partnership firms. Therefore, in many situations even for start-up business company is required to be formed. Separate and simple law for private limited companies is desirable: Many of small private limited companies are formed by group of self employed entrepreneurs being family .....

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