Please note generally a private limited company has 2 directors whereas public limited companies have a minimum of 3 directors. However after Single Member Companies Rules 2003, you can now set up a single member private limited company (known as SMC) with one director only. For an SMC it is mandatory to have a nominee to look after affairs of the company in case of a single member’s death or incapacity. A company is different from sole proprietorships and partnerships.
