A Private Limited Company requires its number of directors to be at least a minimum of two and maximum of fifty, which is mandatory to be mentioned within the Article of Association(AOA). The identifying symbols of a private limited company are the number of members, name, shares, formation, management, directors and meetings, etc. The Private Limited Company allows elements from a partnership as well as a widely owned public company. On one hand it offers greater capital combination, flexibility etc. and on the other hand it offers the benefits of greater stability, limited liability and legal entity.