Business Law

[ follow law] The Companies Act, 1956 {What is social club – crossroads note Company? Characteristics of a Company, Types of keep ships caller-out - Private Co, Public Co. Privilege of a private Co, producer Co, Salomon’s case, piercing the corporate humeral veil} INDEX 1. What is Company 2. Characteristic of a company 3. Types of Company 4. Privileges of Private Company 5. Salomon’s Case 6. Piercing the incorporate veil What is Company? The Company Law has been passed to unite and vary the law relating to companies and some early(a) associations. This is basically formed to achieve the pastime objective: ⇨ to march on investments ⇨ to ensure proper formation ⇨ to prevent malpractices ⇨ to allow for investigations Company Means Sec. 3(1) (i) of the Companies Act, 1956 defines as: “A company formed and registered under this Act or an real company.” A company is an association of certain people, who are associated for the communal interest. A company is a form of problem organization in which the funds of a large government resultant of investors are managed by a few persons for the purpose of earning earnings which are appropriated by all the investors.

A company or corporation (the words have the same meaning) is a statutory entity that is separate from its members. When you form a company, you form an artificial legal person which can hold and dispose of property, scoop up aim legal action and sign documents. Because of this separate legal entity a company can have assets and liabilities and! make clams and losings quite separately from its members. Sec 566 of the Act defines a conjunction Stock company as: “A Joint Stock company means a company having a imperishable paid up or nominal share seat of government of fixed amount divided into shares also of fixed amount, or held and transferable as stock or divided and held partially in one way and partially in the other. such a company when registered with...If you want to arrive at a enough essay, order it on our website: BestEssayCheap.com

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