The Company Laws in India is majorly governed in India by the following enactments:
A company is an association of two or more persons formed in furtherance of a common business objective. A company is a “Separate Legal Entity” having its own identity distinct from its members. As a legal entity, a company
can own a property in its own name, can sue and be sued in its own name and also enjoys perpetual succession, among others. However, since a Company, unlike a human being, is an artificial person, it can only act through
its agents, namely, the Board of Directors.
The process of legally declaring a corporate entity as a separate legal entity distinct from its members is known as “Incorporation of a Company”. An association of persons in order to initiate its business
as a company has to get a certificate of incorporation from the Registrar of Companies (ROC).
The kind or classification of a company would in general depend on the following factors:
Depending on the aforesaid, a company may be classified as a statutory company, registered company, public or private company, holding or subsidiary company, companies with limited liability, Government company or Non-Government company, One-man company, foreign company etc.
The two documents which are incidental to the formation of a company are:
Memorandum of Association and Articles of Association .
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