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  • Company Law - 1

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    Vribha Gupta
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    This document discusses key aspects of company law in India. It defines a company as having independent corporate existence, perpetual succession, limited liability, transferable shares, and the power to sue and be sued. It identifies the main types of registered companies as private limited, public limited, limited by shares, limited by guarantee, and unlimited companies. It outlines some key distinctions between private and public limited companies such as minimum paid-up capital, minimum and maximum number of members, and restrictions on share transferability. It addresses some frequently asked questions about common seals and the process for changing from a public to private limited company.

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    Company Law -1

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    This document discusses key aspects of company law in India. It defines a company as having independent corporate existence, perpetual succession, limited liability, transferable shares, and the power to sue and be sued. It identifies the main types of registered companies as private limited, public limited, limited by shares, limited by guarantee, and unlimited companies. It outlines some key distinctions between private and public limited companies such as minimum paid-up capital, minimum and maximum number of members, and restrictions on share transferability. It addresses some frequently asked questions about common seals and the process for changing from a public to private limited company.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    5 views8 pages

    Company Law - 1

    Uploaded by

    Vribha Gupta
    This document discusses key aspects of company law in India. It defines a company as having independent corporate existence, perpetual succession, limited liability, transferable shares, and the power to sue and be sued. It identifies the main types of registered companies as private limited, public limited, limited by shares, limited by guarantee, and unlimited companies. It outlines some key distinctions between private and public limited companies such as minimum paid-up capital, minimum and maximum number of members, and restrictions on share transferability. It addresses some frequently asked questions about common seals and the process for changing from a public to private limited company.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 8

    Amity Business School

    Amity Business School


    MBA-G, Semester I Economic and Business Legislation Monica Suri

    Amity Business School

    COMPANY LAW

    Amity Business School

    MAIN FEATURES : -INDEPENDENT CORPORATE EXISTENCE -PERPETUAL SUCCESSION -LIMITED LIABILITY -TRANSFERABLE SHARES -POWER TO SUE AND SUED.
    3

    Amity Business School

    KINDS OF REGISTERED COMPANIES -PRIVATE LTD. -PUBLIC LTD. Which could be: *LIMITED BY SHARES: LIABILTY

    OF MEMBERS LIMITED BY

    ITS MEMORANDUM. *LIMITED BY GUARANTEE: MEMBERS UNDERTAKE TO PAY DURING ITS WINDING UP. *UNLIMITED COMPANIES: PERSONAL ASSETS ARE ALSO SEIZED OFF.
    4

    Amity Business School

    DISTINCTION BETWEEN PRIVATE LTD. COMPANY AND PUBLIC LTD. COMPANY 1. Minimum Paid-up Capital : A company to be Incorporated as a Private Company must have a minimum paid-up capital of Rs. 1,00,000, whereas a Public Company must have a minimum paid-up capital of Rs. 5,00,000. 2. Minimum number of members : Minimum number of members required to form a private company is 2, whereas a Public Company requires atleast 7 members.

    3. Maximum number of members : Maximum number of members in a Private Company is restricted to 50, there is no restriction of maximum number of members in a Public Company.

    Amity Business School

    4. Transferability of shares : There is complete restriction on the transferability of the shares of a Private Company through its Articles of Association , w hereas there is no restriction on the transferability of the shares of a public company. 5. No. Of shareholders Private Ltd. have
    6

    Amity Business School

    FAQ Q1. Should common seal be affixed to all the documents of the Company. Ans. No . Common seal may be affixed only POA-power of attorney, Documents requiring Official seal, Share warrant and Share Certificates. Thus it has to be specified by AOA .
    7

    Amity Business School

    Q2. Karishma Ltd wants to change from Public ltd. Co. change to pvt. Ltd. Can it do so? Ans. Yes, it can . It has to take permission of Central Govt.(ROC) - Pass a special Resolution. File a printed copy of changed articles with ROC.
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