Difference between Private and Public companies
A private company requires a minimum of two board members while a public company requires seven.
A private company can have a maximum of 200 members while a public company can have any number of members.
There is a complete restriction on the transferability of shares in the private company and no restriction in a public company.
It prohibits an issue of the prospectus in a private company and is free in a public company.
A private company can commence business immediately after incorporation while a public company has to wait until they acquire the business certificate.
There is no obligation of a statutory meeting for a private company but it is obligatory for a public company.