KINDS OF COMAPANIES

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8 Νοε 2013 (πριν από 3 χρόνια και 9 μήνες)

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KINDS
OF COMAPANIES






DEFINITION OF COMPANY


According to Companies Act ,” a company formed and
registered under this Act or an existing companies”.



According to Chief Justice Marshall ,“ a company is a person
, artificial , invisible , intangible and existing only in the
contemplation of law. Being a mere creation of Law,it
possesses only those properties which the character of its
creation confers upon it either expressly or as incidental to its
very existence”.

Kinds of
Companies


Incorporated



Unincorporated

Charted

company

Statutory
company

Registered
company

Companies limited
by shares


Companies limited
by guarantee

Unlimited
companies

Public

Private

Public


Public


Private


Private


CHARTERED COMPANIES

A Monarch or King brings in such a company.


In earlier times, trading co. were created by the
charter.


Provision of companies act 1956 do not apply.


These types of companies do not exist in India.


Examples of Chartered Companies



Spanish Company

(1577)


Eastland Company

(1579)


Turkey Company

(1581)


Morocco Company

(1588)


East India Company

(1600)


German New Guinea Company

(1884)


German East Africa Company

(1884)



Royal African Company

(1672)


Greenland Company

(1693)


South Sea Company

(1711)


British North Borneo Company

(1881)


Royal Niger Company

(1886)



STATUTORY COMPANIES

Incorporated by means of a special Act of
parliament or any state legislature.


Carries out special public undertakings.


These are governed by act creating them.


Examples : Food Corp. of India , Life insurance of
India , JKSRTC , JK Industries.

REGISTERED COMPANIES

Companies registered under companies Act, 1956 or
existing companies.

Sec 12(2) provides the co. registered under this act may
be:
-



Companies limited by shares.


Companies limited by guarantee.


Unlimited companies.







COMPANIES LIMITED BY SHARES

Majority of registered Cos are limited by shares.


Such Cos must have share capital.


Liability of its members is limited to the amount of unpaid
shares held by them.


There is no liability when shares are fully paid.


COMPANIES LIMITED BY GUARANTEE

Liability of members is limited to such amounts as they
may respectively undertake by memorandum to contribute
to the assets of the company.


May or may not have share capital.


If it has share capital, the liability of members is two fold.

Liability to pay the share amount

The amount guaranteed



UNLIMITED COMPANIES

Liability of members is unlimited.

Company may or may not have share capital.

Such companies are rarely formed.

These Cos must not incorporate “ltd.” word as the last
word.

It must file the articles and memorandum.

An unlimited company can get itself re
-
registered as a
limited liability company under section 32 of the Act .

PRIVATE COMPANIES

Private

Limited

Company

means

a

company

formed

with

the

word

`private’

in

its

name
.

The

Articles

of

Association

of

such

companies

includes

the

following

restrictions

:
-

articles of association restricts the right to transfer its shares

limitation to the number of shareholders to 50 (excluding
employees and former employees)

prohibition towards invitation to the public to subscribe to
shares and debentures [Section 3(1)(iii)

The minimum paid up capital for a private company would be
Rs. 100,000.







EXAMPLES





Acer India Private Ltd.





L’Oreal India private Ltd.



Examples from J&K




J & K Metal wires Private Ltd.




Kashmir tourist bus service Private Ltd.




NITCO Roadways Private Ltd.



Chinar Biscuits Private Ltd.


JAY KAY Automobiles Private Ltd.



Delight fast food Private Ltd.


J & K Vehicleades Private Ltd.


J K Associates Private Ltd.





PUBLIC COMPANIES

A company which is not a Private company.


The minimum paid up capital for a public company would
be Rs. 500,000.


At least 7 persons are required to form a public company.


Only the shares of public companies are capable of being
dealt in stock exchange.


EXAMPLES


PUBLIC VS. PRIVATE COMPANIES

Basis

Public

Private

Min. paid up capital

5 lakh

1 lakh

Min. of members

7

2

Max. of mem.

No limit

50

Restriction On name

Ltd.

(P) ltd.

Commencement of
business

A public co. shall not commence
its buss.unless it has been
granted certificate of
commencement of business

A Pvt. Co. can commence its
business as soon as it is
incorporated

Invitation to public

A public co. may invite public to
subscribe to its shares by issuing
prospectus.

A Pvt.co.cannot extend such
invitation to the public

Transferability of shares

No restriction on the
transferability in case of public
ltd. Co.

A Pvt. Co. by its articles
must restrict the right to its
members to transfer its
shares

Basis

Public

Private

Share warrants

A public co. can issue share warrants

Such a right is denied to
Pvt.
Co.

Issue of capital

A public co. proposing issue of shares
must offers them to existing members

A Pvt. Co is free to allot
new issue to outsiders

No. of directors


A public co. must have at least 3
directors

A Pvt. Co. may have 2
directors

Statuary meetings

A public co. must hold statuary
meeting& file with the registrar a
statuary report.

A Pvt. Co. has no such
obligation

Quorum

If the articles of the co. do not
otherwise provide the quorum is
5mem. Personally present in the case
of public co

The quorum of the of the
Pvt. co. is 2 members
Personally present

Restriction on the
appointment of
directors

A director of A public co. shall file
with a registrar consent or act as
such..He shall sign Memorandum and
enter into contract for qualification
shares . He cannot take part in the
discussion on a contract in which he is
interested
.

These restriction do not
apply to a Pvt. Co.

GOVERNMENT COMPANIES

Government Companies means any company in which
more than 51% of the paid up share capital is held by the
Central Government or any State Government or partly by
the Central Government and partly by the one or more
State Governments and includes a company which is a
subsidiary of a government company.



Government Companies are also governed by the
provisions of the Companies Act.


EXAMPLES

Jammu & Kashmir State Agro Industries Ltd.

Jammu & Kashmir Bank Ltd.

Jammu & Kashmir Tourism development corpn Ltd.

Jammu and Kashmir Cement Ltd.

J&K Industrial & Technical Consultancy Organisation Ltd.

HOLDING

AND

SUBSIDIARY

COMPANIES

A company which controls other company is known as the holding
company and the company so controlled is termed as subsidiary
company.


Section 4 of the companies act, 1956, provides that a holding company
is one if it :

Controls the board of directors of another company;or

Holds more than half of the nominal value of equity share capital of
another company ; or

Is a subsidiary of any company which is in turn a subsidiary of
another company.


EXAMPLES




HOLDING COMPANY



Indian Oil Corporation Ltd.


SUBSIDIARIES



Indian Oil Technology Ltd.



Indian Oil (Mauritius) Ltd.



IBP Co Ltd.



Indian Oil Blending Ltd.





HOLDING COMPANY



Acer Co. Ltd


SUBSIDIARIES





Acer India private Ltd.




Acer computer Australia. Pvt Ltd.




Acer Computer (Singapore) Pvt Ltd




Acer Computer Co., Ltd.




And many more




FOREIGN COMPANIES

Company incorporated outside INDIA and having a place
of business in India.

According to section 591, a foreign company is one
incorporated outside India



a) which established a place of business within

the India after the commencement of this act.



b) which had a place of business within India

before the commencement of this act and continues

to

have the same at the commencement of this act.


COMPANIES CONVERTED
FROM PUBLIC LIMITED TO
PRIVATE





COMPANIES CONVERTED FROM PUBLIC TO PRIVATE






Name of the Company


Date of Conversion


NITCO ROADWAYS LTD.


Friday, June 15, 2001


NEW STYLE FABRICATORS LTD


Friday, April 19, 2002


TRANS ASIA HOTELS PVT LTD


Wednesday, December 20, 2000


T.R.G. INDUSTRIES PRIVATE LTD

Wednesday, April 04, 2001


P.B.I. (INDIA) LIMITED


Wednesday, June 07, 2000


GANESH OIL MILLS LIMITED


Thursday, September 27, 2001


APEXCEL LIMITED


Friday, March 28, 2003


PATHANKOT VEHICLEADES PVT.LTD.


Monday, March 11, 2002


KASHMIR FINANCE LIMITED


Thursday, January 22, 2004


COMPANIES CONVERTED FROM PRIVATE TO
PUBLIC LIMITED


Name of the Company


Date of Conversion


JAY KAY REAL ESTATES
PRIVATE LIMITED


Wednesday,

September 05, 2001


SHEEN ROADLINKS PVT.LTD.


Friday,

March 05, 1999


DUTTA FINANCIERS (INDIA)
PVT.LTD.


Wednesday,

July 25, 2001


SHIROMANI FINANCE PVT LTD


Tuesday,


February 12, 2002


GTZ SECURITIES LIMITED


Friday,


March 10, 2000


SRF INTERNATIONAL PRIVATE
LIMITED


Monday,

March 24, 2003


THANK YOU