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Private Firm (Corporate)

Private firm (Corporate) According to Section 2(68) of the Companies Act, 2013 private companies are those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them.

Website :- (Source of information- Company Act-2013)

Further, the term 'Firm' according to Section 4 of the Indian Partnership Act, 1932 is defined as “Persons who have entered into partnership with one another are called individually "partners" and collectively "a firm", and the name under which their business is carried on is called the "firm name".

Website :- (Source of Information- Income Tax Act-1961)
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