A private company can be classified into following Private Limited Company with minimum two members Private Limited Company with only one member (i.e.One Person Company) If choice of class of company is not a One Person Company, minimum two members are required to register a private company
Before the enactment of Companies Act, 2013, minimum two persons were required to register a private company. Companies Act, 2013 introduced the concept of One Person Company (OPC) opened avenues for individual businessman and entrepreneurs to carry out their business as a separate legal entity with the advantages available to a sole proprietary concern and…