Your client Vivek wants to form a private company with a share capital of ₹50,000. Examining the relevant provisions of the Companies Act, 2013, advise Vivek on the following issues with proper justification: Whether Viv

Section 2(68) of the Companies Act, 2013 defines the term 'private company' to mean a company having a minimum paid-up share capital as may be prescribed, and which by its Articles, - restricts the right to transfer its shares; except in case of One Person Company, limits the number of its members to two hundred and prohibits any invitation to the public to subscribe for any securities of the company. Accordingly, since there is no requirement of minimum share capital, Vivek will be successful in the formation of the proposed company on complying with other provisions of the Companies Act, 2013.