NO OF MEMBER

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Querist : Anonymous (Querist)

29 November 2010 What is Minimum number of members for forming a Company?

CA Sanat Pyne

CA Sanat Pyne (Expert)
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29 November 2010 A public company must have at least 7 members whereas a private company may have only 2 members. If the number of members fall below the statutory minimum and the company carries on its business beyond a period of six months after the number has so fallen, the reduction of number of members below the legal minimum is a ground for the winding up of the company.

Ajay Mishra

Ajay Mishra (Expert)
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29 November 2010 Agreed with Sir....

Any seven or more persons, or where the company to be formed will be a private company, any two or more persons, associated for any lawful purpose may, by subscribing their names to a memorandum of association and otherwise complying with the requirements of this Act in respect of registration, form an incorporated company, with or without limited liability.

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