A company, abbreviated co., is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise. Company members share a common purpose and unite in order to focus their various talents and organize their collectively available skills or resources to achieve specific, declared goals. A company or association of persons can be created at law as legal person so that the company in itself can accept limited liability for civil responsibility and taxation incurred as members perform (or fail) to discharge their duty within the publicly declared "birth certificate" or published policy.

1. Welcome
To Our
Presentation

2. Group name
“Icon”

3. Group Member’s Name & Id
NAME ID
Rizwan Mahbub Khan 12132101051
Nusrat Jahan 12151101139
Masuma Akram Bristy 12151101162
Nishat Tasnim Ayon 12151101163
Sabiha Islam 11151101166

4. Topic Name:
“COMPANY”

5. Defintion of Company
“A company is an association of
persons united for a common
object”.
— Justice James

6. Private Limited Company
Advantages Disadvantages
 Owner keeps control of
the business.
 Profits shared
between more people.
 Private limited
company raise more
finance that a smaller
business.
 A legal agreement
must be set up.

7. Difference between public company &
private company
Basis Public Company Private Company
 Meaning
A public company
is a company
which is owned &
traded publicly.
A private
company is a
company which is
owned & traded
privately.
Minimum
members
7 2
Minimum
directors
3 2
Transfer-
ability of
shares
Freely
transferable
Not freely
transferable

8. Definition of Promoters
The persons who do the
necessary preliminary work
to the formation of a
company are termed the
promoters of the company.

9. Definition of articles of
association
The articles of association are the
regulations for the internal
arrangement & management of the
company.
—Charlesworth & Cain

10. Contents of articles of
association
Different classes of shares
Calls on shares
Transfer of shares
Notice to members
Common seal
Amount of capital

11. Doctrine Ultra-vires
Ultra vires is a Latin phrase meaning
"beyond the powers". If an act requires
legal authority and it is done with such
authority, it is characterised in law as intra
vires ("within the powers"). If it is done
without such authority, it is ultra vires.
Acts that are intra vires may equivalently
be termed "valid" and those that are ultra
vires "invalid".

12. Definition of memorandum of
association
A Memorandum of Association (MOA) is a
legal document which contains the
fundamental rules regarding the
constitution and activities of a company.

13. Contents of memorandum of
association
Name clause
Situation clause
Object clause
Liability clause
Capital clause
Subscription or consent clause

14. Definition of winding up of
a company
Winding up of a company is defined
as a process by which the life of a
company is brought to an end and its
property administered for the
benefit of its members and
creditors.

15. Modes of winding up of a
company
 Compulsory winding up by the court
 Voluntary winding up
 Members voluntary winding up
 Creditors voluntary winding up
 Winding up subject to the
supervision of the court

16. Compulsory winding up by
the court
Special resolution
Default in holding statutory
meeting
Failure to commence business
Reduction in members
Inability to pay debts

17. Definition of prospectus
According to Section 142 of the company
Act 1994 —
“Document containing offer of shares or
debentures for sale to be deemed a
prospectus.”

18. Objects of prospectus
 To bring to the notice of public that a
new company has been formed.
 The secure that the directors of the
company accept responsibility of the
statement in the prospectus.
 To preserve an authentic record of the
terms of allotment on which the public
have been invited to but its shares or
debentures.

19. Contents of prospectus
 The number of shares or debentures which
within the two preceding year been issued
for a considerations other than cash.
 The amount or rate of underwriting
commission.
 Preliminary expenses.
 The names and addresses of auditors, if
any, of the company.
 The time of opening of the subscription list
should be given in the prospectus.

20. Definition of share
A share is the interest of a
shareholder in a definite portion
of the capital. It expresses a
proprietary relationship between
the company & the shareholder.

21. Types of share
Types of
share
Preference
shares
Cumulative preference
shares
Non-cumulative
preference shares
Participating
preferences share
Non-participating
shares
Convertible
preference share
Non-convertible
preference shares
Equity
shares

22. Characteristics of share
It is a unit of capital of the
company.
Each share is of a definite face
value.
Each share has a distinct number.
Shares are transferable units.