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The Companies Act 1956 Ppt @ Bec Doms

The Companies Act 1956 Ppt @ Bec Doms

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The Companies Act 1956 Ppt @ Bec Doms
The Companies Act 1956 Ppt @ Bec Doms

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Published by: Babasab Patil (Karrisatte) on Mar 01, 2012
Copyright:Attribution Non-commercial


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The Companies Act 1956
COMPANY: What is it? [Sec.3]
Section 3 (1) (i) of the Act defines: ³Acompany means a company formed andregistered under this Act or an existingcompany.´
That is, a company is an
association of persons
united for a common object.
t is a form of 
business organization
herethe funds of a large number of investors aremanaged by a fe
persons for the purpose of earning profits
hich are shared by all theinvestors.
ssential Features of a Company
Registration: Compulsory
Separate legal entity: Distinct person
Perpetual succession
Artificial person: But not a Citizen
Transferable shares
Limited liability
Common seal: Separate and independent legalexistence
Separate property: Can dispose property in its name.
Capacity to sue and be sued

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