Comparison between partnership, LLP, public ltd co and Private limited Co.
| Particulars |
Statute / Legislation |
Min.No of Members |
Liability |
Max.No of Members |
Legal status of Entity |
Min capital Required |
Subscribe |
| Partnership |
Indian Partnership Act,1932 |
Minimum of 2 partners are required to start partnership |
Unlimited liability |
The maximum no of partners can be 20 only. |
Separate legal entity
|
No guidelines
|
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|
| LLP |
Limited Liability Partnership Act 2008 |
Minimum of 2 members are required to start a LLP |
Limited Liability |
A LLP can have unlimited number of partners. |
Separate legal entity
|
No limit prescribed in the Act |
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|
| Public ltd Co. |
Companies Act,2013
|
Minimum of 2 members are required to start a public ltd co. |
Limited Liability |
Unlimited members
|
Separate legal entity
|
Rs. 5,00,000 required
|
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|
| Private ltd co. |
Companies Act,2013
|
Minimum of 2 members are required to start private ltd co. |
Limited Liability |
Maximum of 200 members |
Separate legal entity
|
Rs. 1,00,000 required
|
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|
