State the important privileges available to a private company

Asked by admin @ 12/08/2021 in Business Studies viewed by 371 People

State the important privileges available to a private company.

Answered by admin @ 12/08/2021

Answer:

Important privileges available to a private company are as follows :

Private company need not issue of prospectus or file a statement in lieu of prospectus before raising capital and allotting the shares to its member.
Restriction regarding for the issue of capital do not apply on private companies.
Restrictions on starting of a business does not apply on private companies.
Holding a statutory meeting and submission of statutory report is not necessary for a private company.
Provisions relating to general meetings ,if articles of company otherwise provide , do not apply to private companies.
Ceiling on maximum managerial remuneration is not applicable to private companies.

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