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Company law

Company law

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Published by yam0078

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Categories:Topics, Art & Design
Published by: yam0078 on Aug 21, 2010
Copyright:Attribution Non-commercial

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04/26/2013

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Meaning and Definition of a Company 
Section 3(1)(i) of the Companies Act,1956 defines a company as: a companyformed and registered under this Act oran existing Company.
Existing Company means a companyformed and registered under any of theearlier Company Laws.
 
F
eatures
Separate legal entity;
Incorporated body ;
Artificial legal person;
Perpetual succession;
Limited liability;
Common seal;
Right to own property;
Right to sue;
Right to enter in to contracts;
F
lexibility of investment;
Separation of control from the ownership.
 
KIN 
DS OF COMPA
NIE 
S
On the Basis of INCORPORATION
Charteredcompanies
-
companies which areincorporated under a special charter grantedby the king or queen in exercise of royal power.
e.g. East India Company(1600)
S
tatutory Companies
-
which are created byspecial act of parliament or state legislature atcentral or state govt. level e.g.
Reserve Bank of India
Registered Companies
 
are companies whichare registered under the co.s act of 1956

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