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Under Section 2(68), a private company by its articles restricts the right to transfer shares, prohibits public invitation to subscribe, and limits the number of members to:
A50
BNo limit
C200 (excluding present and past employee-members)
D100
Answer & Solution
Correct answer: C. 200 (excluding present and past employee-members)
A private company limits members to 200 (excluding employee/ex-employee members); joint holders count as one member.
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