Companies Act India

Ans:  Companies on the basis of control or Holding :  Holding and Subsidiary Companies  Associate companies or holding companies: As per Section 2(46) “holding company”, in relation to one or more other companies, means a company of which such companies are subsidiary companies. As per Section 2(87) “subsidiary company” or “subsidiary”, in relation to any other company (that is to say the holding company), means a company in which the holding company— (i) controls the composition of the Board of Directors; or (ii) exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies. So , the holding company will have subsidiary company.

Ans: Section 2(68) of Companies Act, 2013 defines private companies. According to that, private companies are those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them. This is the basic criterion that differentiates private companies from public companies. The Section further says private companies can have a maximum of 200 members (except for One Person Companies). This number does not include present and former employees who are also members. Moreover, more than two persons who own shares jointly are treated as a single member. This definition had previously prescribed a minimum paid-up share capital of Rs. 1 lakh for private companies, but an amendment in 2005 removed this requirement. Private companies can now have a minimum paid-up capital of any amount.  These are some features that distinguish private companies from other types of com...

Ans: Ans: On the basis of liabilities, the company is divided into three types:  1. Company limited by shares: The liability of members is limited by shares and is mentioned in the memorandum of association. E.g., If a person buys 10 shares of Rs 100, the liability of company will be of Rs 1000 only( 100 multiplied by 10) if it is unpaid.  If it is paid, there will not be any liability of shareholder.  According to Section 2 (22) of the Companies Act 2013, a company that is limited by shares is refers to a company that has the liability of the members limited by such an amount that is unpaid on their respectively held shares. The company can enact this liability while the company is in existence or as it is ending. 2. Companies limited by Guarantee: The members of the company give guarantee of fixed amount and the liability of member will be at the time of winding of the company. It means that the member or shareholder of the company will pay a certain amount at the tim...

Ans:  On the basis of incorporation, the company is divided into three types:  1. Chartered Company: The Companies like East India Company,  Bank of Japan are the Companies which were started under charter before independence are chartered Companies. Chartered act, 1813 is also called East India Company act, 1813.  2. Statutory Company: The Statutory Companies are formed by passing the act. The Companies like LIC, RBI, UTI (Unit trust of India) are formed under LIC act, 1956, RBI act, 1934 and UTI act, 1963. These companies are not required to have memorandum of association and articles of association. 3. Registered Company: The Companies which are registered under Company Act, 1956 and Company Act, 2013 are the registered companies. Keywords used:  First, a charter can be defined broadly as the highest law of an entity. More specifically: In corporate law, the articles of incorporation. In public law, the instrument by which a municipality is incorpora...

Ans:  The companies are categorised into four types according to the Companies Act, 2013:  1. On the basis of incorporation.  2. On the basis of liability. 3. On the basis of Members. 4. On the basis of Control or Holding. The three basic types of companies incorporated under the Companies Act, 2013 are Private Company, Public Company and One Person Company. These are the companies on the basis of members.  The three basic types of companies on the basis of liability are:  Company limited by shares Company limited by guarantee Unlimited Companies Companies on the basis of incorporation : 1. Chartered companies 2. Statutory Companies  3. Registered Companies  Companies on the basis of members : Public Company  Private Company  One Person Company  Companies on the basis of control or Holding :  Holding or Subsidiary Companies  Associate companies 

Ans: Foreign Company is defined under section 379 to 393 of companies act,  2013 . 

Ans:  The concept of the Limited Liability Partnership (LLP) was introduced in India in 2008. The Limited Liability Partnership Act, 2008 regulates the LLPs in India. Minimum two partners are required to incorporate an LLP. However, there is no upper limit on the maximum number of partners of an LLP.