Company law

Section 2 (17)
Company:
Company formed and registered under this act or company law

Section 2 (19)
Company limited by Guarantee:
Company having the liability of members limited by memorandum to
such amount as members may undertake to contribute to assets of
company in event of its being wound up

Section 2 (20)
Company limited by shares:
Company having the liability of members limited by memorandum to
extent of amount if any remaining unpaid on the shares respectively held
by them

Section 14
Mode of Forming a Company:
1)
a) Three or more person associated for lawful purpose by adding their
names to memorandum of association and by fulfilling the
requirement of registration under this act form a public company
 b) 2 or more person associated in same manner as discussed above
form a private company
c) One person may form single member company by fulfilling
requirements in respect of private company and other requirements
specified. That single member has to nominated the other person
who shall in case of his death be responsible for
 Transfer the shares to legal heirs of deceased subject to
succession under Islamic law of inheritance and as per the
respective law in case of non-Muslim
 Manage affairs of company as trustee till such time the title
of shares are transformed

After transfer of share to more than one legal heirs then company
shall cease to be single company and comply with provision of sec 47

2)