Itft - Company Law Introduction [compatibility mode]

50 %
50 %
Information about Itft - Company Law Introduction [compatibility mode]
Education

Published on April 26, 2014

Author: nehakhullar

Source: slideshare.net

Description

Meaning, Definition, Lifting of Corporate Veil, Kinds of Companies

COMPANY LAW UNIT -1 INTRODUCTION ITFT College 1 PDF created with pdfFactory Pro trial version www.pdffactory.com

Topics ØMeaning ØDefinition ØCharacteristicsØCharacteristics ØLifting of Corporate Veil ØCompany Vs Partnership ØKinds of Company ITFT College 2 PDF created with pdfFactory Pro trial version www.pdffactory.com

Meaning of Company It is an artificial personIt is an artificial person having separate entity fromhaving separate entity from its members with perpetualits members with perpetualits members with perpetualits members with perpetual succession and common seal.succession and common seal. ITFT College 3 PDF created with pdfFactory Pro trial version www.pdffactory.com

Definition of a Company According to the companies Act 1956, aAccording to the companies Act 1956, a company means“A company formed andcompany means“A company formed and registered under the companies Act 1956 orregistered under the companies Act 1956 or an existing company:an existing company:an existing company:an existing company: [Section 3(1)([Section 3(1)(ii)].An existing company means a)].An existing company means a company formed and registered under anycompany formed and registered under any of the former Companies Acts.”of the former Companies Acts.” ITFT College 4 PDF created with pdfFactory Pro trial version www.pdffactory.com

Characteristics of a Company Artificial PersonalityArtificial Personality Separate Legal EntitySeparate Legal Entity Voluntary Incorporated AssociationVoluntary Incorporated AssociationVoluntary Incorporated AssociationVoluntary Incorporated Association Number of Members/SubscribersNumber of Members/Subscribers Perpetual SuccessionPerpetual Succession Common SealCommon Seal Limited LiabilityLimited Liability ITFT College 5 PDF created with pdfFactory Pro trial version www.pdffactory.com

Characteristics……!!Share CapitalShare Capital Transferability of SharesTransferability of Shares Separation of Ownership andSeparation of Ownership andSeparation of Ownership andSeparation of Ownership and ManagementManagement A Company is not a CitizenA Company is not a Citizen Separate PropertySeparate PropertyITFT College 6 PDF created with pdfFactory Pro trial version www.pdffactory.com

Lifting The Corporate VeilLifting The Corporate Veil Lifting of corporate veil is a fictionLifting of corporate veil is a fiction of law, which means disregardingof law, which means disregarding the separate legal entity of athe separate legal entity of a ITFT College 7 the separate legal entity of athe separate legal entity of a company and identifying thecompany and identifying the realities which lay behind therealities which lay behind the legal façadelegal façade. PDF created with pdfFactory Pro trial version www.pdffactory.com

EexceptionalEexceptional casescases qqExcess or Violation of StatutoryExcess or Violation of StatutoryqqExcess or Violation of StatutoryExcess or Violation of Statutory ProvisionsProvisions qqJudicial InterpretationJudicial Interpretation ITFT College 8 PDF created with pdfFactory Pro trial version www.pdffactory.com

Kinds of companiesKinds of companies Classification on the basis of Incorporation; Classification on the basis of Liability; ITFT College 9 Liability; Classification on the basis of number of members; Classification on the basis of Control; Classification on the basis of Ownership PDF created with pdfFactory Pro trial version www.pdffactory.com

Classification on the basis of Incorporation 1. Chartered Companies1. Chartered Companies 2. Statutory Companies2. Statutory Companies ITFT College 10 2. Statutory Companies2. Statutory Companies 3. Registered Companies3. Registered Companies -- Private CompanyPrivate Company -- Public CompanyPublic Company PDF created with pdfFactory Pro trial version www.pdffactory.com

Classification on the basis ofClassification on the basis of LiabilityLiability ITFT College 11 1. Companies having limited liability1. Companies having limited liability 2. Companies having unlimited liability.2. Companies having unlimited liability. PDF created with pdfFactory Pro trial version www.pdffactory.com

Classification on the basis of number of members 1. Private company1. Private company 2. Public Company2. Public Company ITFT College 12 2. Public Company2. Public Company PDF created with pdfFactory Pro trial version www.pdffactory.com

Classification on the basis of Control ITFT College 13 1. Holding Companies1. Holding Companies 2. Subsidiary Company2. Subsidiary Company PDF created with pdfFactory Pro trial version www.pdffactory.com

Classification on the basis of Ownership ITFT College 14 1. Government Companies 2. Non-government Companies PDF created with pdfFactory Pro trial version www.pdffactory.com

Questions ?????Questions ????? •• DefineDefine aa companycompany.. •• DiscussDiscuss thethe classificationclassification ofof aa companycompany..companycompany.. •• WhatWhat isis LiftingLifting ofof CorporateCorporate Veil?Veil? •• DiscussDiscuss thethe characteristicscharacteristics ofof aa companycompany laidlaid underunder thethe Company’sCompany’s ActAct 19561956. ITFT College 15 PDF created with pdfFactory Pro trial version www.pdffactory.com

ITFT College 16 PDF created with pdfFactory Pro trial version www.pdffactory.com

Add a comment

Related presentations

Related pages

Companies - an introduction | Companies Office The ...

This range of resources is designed to provide some insight into companies - including directors, shareholders, ... Companies - an introduction
Read more

Introduction to Company Law (Clarendon Law Series): Amazon ...

Buy Introduction to Company Law (Clarendon Law Series) by (9780199249404) from Amazon UK’s Books Shop. Free delivery on eligible orders.
Read more

US Corporate Law/Introduction - Wikibooks, open books for ...

US Corporate Law/Introduction. From Wikibooks, open books for an open world ... A Limited Liability company (LLC), or a Limited Liability Partnership ...
Read more

COMPANY LAW - LECTURE NOTES - Welcome To C.S. Study Point ...

COMPANY LAW - LECTURE NOTES I. INTRODUCTION TO INCORPORATION 1. Definition of a "Company" A company is a "corporation" - an artificial ...
Read more

Basic principles of company law - Out-Law.com

Basic principles of company law. This article is based on UK law as at 1st February 2010, unless otherwise stated. Companies come in many ...
Read more

Message - Company Introduction | A&D

Message Introduction to A&D. A&D Company, Limited is a world-class producer of advanced measuring, monitoring, controlling and testing instruments.
Read more

Introductory Business Law | CLEP - CLEP - College Level ...

CLEP® Introductory Business Law Examination Guide . The Introductory Business Law exam covers contracts, the history and sources of American law, and ...
Read more

Companies law - Wikipedia, the free encyclopedia

Companies law (or the law of business associations) is the field of law concerning companies and other business organizations. This includes corporations, ...
Read more

Company Law - YouTube

This is a basic introduction to company law and the issues that surround this contentious subject that is studied by students across the globe ...
Read more