What do you mean by private company? Write any five privileges of private companies.
A company is said to be a private company if it restricts the right of its members to freely transfer shares,limit the number of its members one to one hundred one and does not invite public to subscribe for shares or debentures by issuing prospectus.
Privileges of private company
a. Formation by a a single person: A private limited company may be formed even by a single person.
B. Commencement of business:It can start it's business immediately after getting certificate of incorporation.