4. Definition: The Companies
Act is an Act , which
enabled companies to be
formed by registration, and
set out the responsibilities of
companies their
their directors and secretarie
s.Companies law (or the law of business associations) is the field of law
concerning companies and other business organization. This
includes corporations, partnerships and other associations which usually
carry on some form of economic or charitable activity.
10. Share Capital
Share:
Share is defined as “an interest having a money value and made up of
diverse rights specified under the articles of association.”
Share capital:
Share capital means the capital raised by the company by issue of
shares.
A share a share in the share capital of the company including the
stock.
Share gives a right to participate in the profits of the company or a
share in the assets when the company is going to be wound up.
Shareholders:
11. • Main features of Company Law:
• The minimum number of shareholders is 2
• a company must have a capital divided into shares
• It must have a memorandum and articles of association
• For a company to come into existence the company must be registered at
the registrar of the companies.
• A company has a separate juridical personality
• Limited liability notion which is the limited liability of the shareholders
• To disclose a lot of information about themselves, there are strict
disclosure requirements
• The applicable legislation on company law is very lengthy and can be very
complex
• It is relatively easy to transfer the shareholders' interest in the company to
somebody else and this ease of transferability is also regarded as an
attractive feature of company law
15. Quality of directors:
Enter into contact
Natural person
Requisite qualification share
Undercharged insolvent or convicted by court.
16. Dark side
Retirement of director
Resignation of director:-
Removal of director:-
•Removal by shareholder
•Removal by central govt.
•Removal by the company law board