Types of companies defined under Companies Act clarify distinctions between private, public, and other corporate forms.

The framework defines company types by statutory criteria: a Private Company restricts share transfer, limits members, bars public invitations for capital and deposit taking, and meets a minimum paid up capital; a Public Company is any company not meeting private company criteria and includes private subsidiaries of non private companies. Separate categories fix member liability-limited by shares, limited by guarantee, or unlimited-and special classes include government, foreign, holding/subsidiary, producer, and deemed public companies. A licensing mechanism permits omission of "Limited" for qualifying charitable companies.

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