Give any five privileges enjoyed by a private company. - Vidyadip

Question

Give any five privileges enjoyed by a private company.

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Answer

The five privileges enjoyed by a private company are as follows:

Only two members are required to form a private company.
Private companies are not required to file prospectus or statement in lieu of prospectus.
A private company is not required to hold statutory meeting nor file statutory report.
A private company may have 2 directors.
There are no restrictions on appointment or re-appointment of directors in a private company.

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