Companies Act, 1956 Force 9!公司法1956年9 力量.ppt

Companies Act, 1956 Nature Meaning An association of like-minded persons formed for the purpose of carrying on some business or undertaking. It denotes a joint stock enterprise in which the capital is contributed by a large number of people. A company owes its existence either to a special Act of Parliament or to Company Legislation. A company is a legal person separate from and capable of surviving beyond the lives of its members. Nature Meaning Company means a company formed and registered under the Companies Act, 1956 or under the previous law relating to companies. [Sec 3(1)(ii)] “An association of many persons who contribute money or money’s worth to a common stock and employ it in some trade or business and who share profit and loss arising there from.” Lord Justice James It has a distinct legal personality and is capable of enjoying rights and is subject to obligations different from those enjoyed or borne by its members. Characteristics Corporate Personality Limited Liability Perpetual Succession Separate Property Transferability of Shares Common Seal Contractual Rights Capacity to sue and be sued Limitation of Action Separate Management Termination of its Existence Types of Business Organisations Non Corporate Proprietorship Collective Ownership HUF Partnership Partnership at Will Joint Ventures Types of Business Organisations Corporate Reg. Companies Unlimited Companies Pvt. Ltd. Companies Pub. Ltd. Companies Govt. Companies Corporation Statutory Co-op Trust Society Classification of Companies On the Basis of Incorporation Chartered Companies Statutory Companies Registered Companies On the Basis of Liability Unlimited Companies Companies limited by Guarantee Companies limited by shares Companies limited by shares and Guarantee On the Basis of Membership Private Company Public Company Holding Company Subsidiary Company Private Company A company which has a min. paid-up capital of Rs.10