As per Lawkidunya, a Private Limited Company (Pvt Ltd) is a type of business entity that is privately owned and operated. Here’s a breakdown of the meaning:

– Private: The company is privately owned, meaning that its shares are not publicly traded on a stock exchange.

– Limited: The company has limited liability, meaning that the shareholders’ personal assets are protected from business debts.

– Company: A company is a separate legal entity from its owners, allowing it to own assets, enter contracts, and sue or be sued.

In essence, a Private Limited Company is a business entity that:
1. Is privately owned and controlled
2. Has limited liability protection for its shareholders
3. Is a separate legal entity from its owners

This type of business entity is commonly used by small to medium-sized businesses, as it offers a balance of liability protection, flexibility, and tax benefits.