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of <h1>Private Company Definition per Section 2(68) of Companies Act 2013: Share Transfer Restrictions, Membership Limit, No Public Securities Invitations.</h1> A private company, according to section 2(68) of the Companies Act, 2013, is defined as an entity with a minimum prescribed paid-up share capital. Its articles must restrict share transfers, limit membership to 200 individuals (excluding One Person Companies), and treat joint shareholders as a single member. Employees and former employees who became members during their employment are not counted in the member limit. Additionally, a private company is prohibited from inviting the public to subscribe for its securities.
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