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<h1>Form a Company with 7+ Members or 2+ for Private: Limited by Shares, Guarantee, or Unlimited under Companies Act, 1956.</h1> Any seven or more individuals, or two or more for a private company, may form an incorporated company by subscribing to a memorandum of association and fulfilling registration requirements under the Companies Act, 1956. The company may be: (a) limited by shares, where member liability is limited to unpaid share amounts; (b) limited by guarantee, where liability is limited to amounts members agree to contribute if wound up; or (c) unlimited, where there is no limit on member liability.