Private company means a company which has a minimum paid-up capital of one lakh rupees or such higher paid-up capital as may be prescribed by the law and by its articles,- (a) restricts the right to transfer its shares, if any; (b) limits the number of its members to fifty. (c) prohibits any invitation to the public to subscribe for any shares in, or debentures of, the company; (d) prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives. ---------------- -------------- | 
