According to the Companies Act, 2013, a company may be formed for any lawful purpose by two or more persons, in which the company is
- Limited by shares i.e. a company having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them
- Having a minimum paid-up share capital as may be prescribed, and which by its articles
- Limits the number of its members to Two Hundred.