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Bhuvan wants to set up a private limited company. As an advisor of Bhuvan, guide him and explain the steps of formation of a private limited company.

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To form a private limited company minimum two members are required and maximum 50. Bhuvan must select at least one more member to form a private limited company. After selecting the members, he must undertake the following two stages:
1. Promotion
2. Incorporation.

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