Statutory Company- This company is incorporated by a special Act passed by the central or State Legislature. Reserve Bank of India, State Bank of India and Life Insurance Corporation are some of the examples of statutory companies.
Such companies do not have any memorandum of association. They derive their power from the Acts constituting them and enjoys certain powers.
These companies are generally formed to meet social needs and not for the purpose of earning profits.
Registered Company - These are formed under the Companies Act, 2013. Such companies come into existence only when they are registered under the Act and a certificate of incorporation has been issued by the Registrar of companies.
This is the most popular mode of incorporating a company.
Chartered Company - Chartered companies are incorporated under a special charter by a monarch. The East India Company, The Bank of England are examples of chartered companies.
The powers and nature of business of a chartered company are defined by the charter which incorporates it.
A chartered company has wide powers. It can deal with its property and bind itself to any contract.
Companies Limited by Shares - These types of companies have a share capital and the liability of each member or the company is limited by the memorandum to the extent of face value of shares subscribed to by him.
A company limited by shares may be a public company or a private company. These are the most popular types of companies.
Companies Limited by Guarantee - These type of companies may or may not have a share capital. Each member promises to pay a fixed sum of money in the memorandum in the event of liquidation of the company. This amount promised by him is called 'Guarantee'.
The article of Association of the company state the number of members with which the company is to be registered.
Such a company is called a company limited by guarantee.
Unlimited Company - A company not having any limit on the liability of its members is called an 'Unlimited Company'.
An unlimited company may or may not have a share capital. If it has a share capital, it may be a public company or a private company.
Private Limited Company - According to Section 2 (68), A "Private Company" means a company which has a minimum paid up shares capital of ₹ 1 lakh.
The shares of a private company cannot be transferred to every person.
A private company cannot have more than 200 members. And Minimum number of members are 2.
It restricts the right of the members to transfer its shares.
Private Company cannot invite public to subscribe to its shares.
i) One Person Company - It has only one member. The person must be a natural person ( e.g, not company ) resident in India. One person can form only one person company.
OPC must have a nominee, who becomes a member in case of original member's death.
A minor cannot become a member or the nominee.
ii) Small Company - Small Company is a private company. It should have paid up capital of not more than ₹ 50 lakh.
It enjoys certain privileges. OPC is a type of small company.
Public Limited Company - According to Section 2 (71), Defines a public company to mean a company which -
Is not a private company.
Has minimum paid up capital of ₹ 5 lakh.
The minimum number of members required is 7. And There is not limit for maximum number of members.
The shares are freely transferable. And Subsidiary of a public company is deemed to be a public company.
i) Listed Company - A listed company means a company which is listed on different recognized stock exchange in India and outside India.
ii) Unlisted Company - An unlisted Company means a company whose shares are not available to general public for trading and not listed on any recognised stock exchange.
Holding Company - A company which controls another company is known as holding company.
Subsidiary Company - A company which controls another company is known as holding company. And the company so controlled is termed as subsidiary company.
Government Company - Accordingly to section 2 (45), Defines a government company as a company in which not less than 51℅ of the paid up share is held :
By the Central governments; or By any State Government.
Examples of Government Companies are OIL, SAIL, NMTC, STC, NTP, etc.
Foreign Company - "Foreign company" means any company or body corporate incorporate outside India which :
Has a place of business in India whether by itself or through an agent and carries on the business, physically or through electronic mode, and
Conducts any business activity in India in any other manner.
Indian Company - Indian Company is a company which is registered in India . An Indian Company is one which gets itself registered in the Companies Act, 2013.
.png)
Comments
Post a Comment