Contents of Comapany Law

Contents of Comapany Law, 2013

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Q. 1_. Meaning Definition and characteristics of
company, and disadvantages?
1) Meaning of company
2) Definition of company section 2(20) of the Companies Act,
2013
3) Nature and advantages of company
a. Independent corporate existence
b. Limited liability
c. Perpetual succession
d. Transferability of shares
e. separate Property
f. Professional management
4) Disadvantages of company
a. Lifting the corporate veil (A separate Question)
i. Meaning of corporate viel
ii. Circumstances in which the corporate veil is
usually lifted
o When it becomes necessary to determine the
legal character of a company
o When company conceived and brought forth
for fraudulent purposes
o Agency or trust and government company
o To prevent abuse of process of Law
b. Formalities and expenses
c. Company is not a citizen
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Q. 2_. Difference between Comapany, Partnership

and Hindu Undivided Family (HUF)?
➢ Basis of comparison
1) Meaning
2) Governing Act
3) How it is created?
4) Registration
5) Minimum & maximum number of persons
6) Management
7) Liability
8) Contractual capacity
9) Minimum capital
Q. 3_. Kinds of Companies under Companies Act, 2013?
1) Classification on the Basis of Incorporation.
a. Chartered Companies
b. Statutory Companies
c. Registered Companies
2) Classification Based on Liability.
a. Unlimited Liability Company, Section 2(92)
b. Companies limited by Guaranteed, Section 2(21)
c. Companies limited by Shares, Section 2(22)
3) Other types of Companies Under the Companies Act, 2013
a. Public Company, Section 2(62)
b. Private Company, Section 2(68)
c. One Person Company, Section 2(71)
Q. 4_. Memorandum of Association?
1) Meaning of Memorandum of Association, Section 2(56)
2) Purpose of Memorandum of Association
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3) Clauses of Memorandum of Association

a. Name Clause.
b. Domicile Clause.
c. Object Clause.
d. Subscription Clause.
e. Liability Clause.
4) Form of Memorandum of Association
a. Table A : Company limited by shares.
b. Table B : The company not having share capital and is
limited by a guarantee.
c. Table C : Company with share capital and limited by
guarantee.
d. Table D : The company not having share capital and
unlimited liability.
e. Table E : A company having share capital and unlimited
liability.
Q. _. Articles of Association?
1) Meaning and Definition of Articles of Association S. 2(5).
2) Components of Articles of Association
a. Company name.
b. Purpose of the company.
c. Share capital.
d. Organization of the company.
3) Contents and Model of Articles of Association
a. Contains regulations.
b. Inclusion of matters.
c. Entrenchment.
d. Forms of articles.
e. Model articles.
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f. Company registered after the commencement of this

Act.
4) Articles of Association vs Memorandum of Association.