Company came into the limelight after the huge demand and to eradicate the drawbacks of sole trade business and partnership firm. As per the New Companies Act, 2013, a company can be defined as an association of persons or group of likeminded individuals for a single purpose to make profits. Company incorporation takes several processes and one should follow each and every step as per the rules and regulations in order to form a successful company or an organization. There are numbers of companies are rapidly rising by in diverse sectors. Company incorporation procedure simply defines some rules and regulations for setting up a new company including private and public limited company. For a private limited company, minimum two shareholders are required with one lac paid up capital with maximum seven shareholders as per the New Companies Act, 2013. But, in case of a public limited company, company incorporation procedures are slightly different like minimum numbers of shareholders are three and there is no maximum limit of future members with free transferable rights.
