Private Limited Company registration is the most popular legal structure option for businesses in India. This type of business entity limits owner liability to their shares, limits the number of shareholders to 50, and restricts shareholders from publicly trading shares. To start an association, a base number of 2 people are required and a most outrageous number of 200 people as per the Companies Act, 2013. The association keeps existing as indicated by law even because of death of any of its peopl. The life of the association keeps existing until the finish of time. It must have a minimum paid-up capital of Rs 1 lakh or such higher amount which may be prescribed from time to time.