Under Section 2(68) of the Companies Act 2013, a 'private company' is defined by reference to which of the following restrictions in its articles?

1. Section 2(68) defines 'private company' as a company having minimum paid-up share capital as may be prescribed, and which by its articles — (i) restricts the right to transfer its shares; (ii) except in case of OPC, limits the number of members to 200 (excluding employees who are/were members); (iii) prohibits any invitation to the public to subscribe for securities of the company. 2. The minimum paid-up capital requirement was deleted by the Companies (Amendment) Act, 2015. 3. The three-tier restriction is the defining characteristic of a private company. 4. Hence option B is the verbatim definition. _Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 2(68)_