 IT s voluntary incorporated association which

is an artificial person created by law with

limited liability having common seal and
perpetual succession. According sec 3(1)I of
companies act company means “a company
formed and registered under the act, or an
existing company.
 Companies are classified on the basis of
 Incorporation
 Liability of members
 Number of members
 Ownership
 control
Statutory company
These companies are those in corporate under
special act passed by the parliament or the
state legislature.
Registered companies
Those companies are those formed and
registered under the Indian companies act.
 Company limited by shares
 A limited company is one in which the liability
of the members is limited. The liability of the
members is limited to the amount if any
unpaid on shares, held by them.
 Companies limited by Guarantee
 Those companies are registered companies in
which the liability of the shareholders to
contribute to the asset of the companies in
the event of the company being wound up is
limited by its memorandum of association.
Unlimited companies
 A company not having any limit on the
liability of its members is termed as the
unlimited companies.
Private companies
A private company means a company which
has minimum paid up capital of one lack
rupees.
Public companies
A public company is not a private company and
which has minimum paid up capital of five
lack rupees or as prescribed.
 Government companies
 The company which is owned by government.
Paid up capital of the Govt in these
companies is minimum 51%.
 Non government (foreign company)
 The companies registered outside the India
and run business within India.
 Holding company
Holding company is the company which holds
and control the other company.
Subsidiary company
It is the company which is holded by other is
known as subsidiary of other.