Company formation accounts -xi-Utsab Shrestha
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Company formation account. Company and its formation. Various types of companies. Characteristics of a company.
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Formation of a company
1) The document discusses the formation of a company, including the key steps of promotion, incorporation, and raising capital.
2) It outlines the roles and responsibilities of promoters in establishing a company. Promoters are responsible for initial planning, organization, and launching of the company.
3) The two most important legal documents for forming a company are the Memorandum of Association and Articles of Association. The Memorandum outlines the name, objectives, capital structure and liability of the company while the Articles provide internal regulations and procedures.
Formation of companies
The document discusses the formation of companies in India including the definition of a company, stages of company formation, and key company documents. It notes that a company is formed when a group of people come together to exploit business opportunities by combining resources. The main stages of formation are promotion, name selection, incorporation by registering documents, and raising share capital. Key documents include the Memorandum of Association, which defines the company, Articles of Association, which covers internal regulations, and the Prospectus, which provides details for public share offerings.
company formation
Definition
Stages in Formation
Memorandum of Association (MOA)
Article of Association (AOA)
Prospectus
Definition
Stages in Formation
Memorandum of Association (MOA)
Article of Association (AOA)
Prospectus
help how company formed in pakistan
Corporate law topic wise
1. Pakistan adopted the British Companies Act of 1913 after independence in 1947 and made some changes in 1972 that abolished the Managing Agency system. Further changes were made in 1984 under the Companies Ordinance 1984 initiated by General Zia-ul-Haq's government.
2. Companies in Pakistan can be incorporated as private limited companies, public limited companies, or companies limited by guarantee. They must submit documents like memorandums of association, articles of association, forms, and fees to the Registrar who will issue a certificate of incorporation if all requirements are met. Public companies must additionally obtain a certificate to commence business.
3. Contracts signed by promoters before a company is incorporated are not binding on the
BBA-SEM-1-FBO-Company formation stages
slide provide Information of companies how its starts along with brief information of documents like Memorandum of Association and Articles of Association.
Bba 1 ibo u 2.1 co. act, incorporation, moa, aoa, prospectus
The document provides information on the Introduction to Business Organization subject for BBA I. It defines a company as an association of persons who contribute money or resources to a common stock to employ in a trade or business, sharing the profits or losses. A company is a separate legal entity, has perpetual existence, and members have limited liability. It also discusses the different types of companies like private and public companies, their key differences, and the process of incorporating a new company which requires documents like memorandum and articles of association, payment of registration fees, and statutory declaration. Promoters are defined as persons who undertake primary responsibility for promoting a company. The memorandum of association lays out the fundamental rules regarding the company's constitution and defines and confines
Formation of companies
The document discusses the formation of companies, including the definition, stages, and required documents. It outlines the key stages of formation as promotion, name selection, incorporation by registering the Memorandum of Association and Articles of Association, and raising share capital. It also describes the key company documents - the Memorandum of Association, which defines the company objectives and rules, the Articles of Association, which outlines internal regulations, and the Prospectus, which provides details of share offerings.
Company's act 1956 (part 1)
This document provides an overview of key aspects of company formation and regulation under the Companies Act of 1956 in India. It discusses the nature of companies and different types of companies. It also outlines the key stages of company formation including promotion, name selection, incorporation by submitting the Memorandum of Association and Articles of Association, and raising share capital. The Memorandum of Association defines the fundamental rules and area of operations, while the Articles of Association contains internal regulations. A prospectus is also required when inviting public subscription.
Recommended
Formation of a company
1) The document discusses the formation of a company, including the key steps of promotion, incorporation, and raising capital.
2) It outlines the roles and responsibilities of promoters in establishing a company. Promoters are responsible for initial planning, organization, and launching of the company.
3) The two most important legal documents for forming a company are the Memorandum of Association and Articles of Association. The Memorandum outlines the name, objectives, capital structure and liability of the company while the Articles provide internal regulations and procedures.
Formation of companies
The document discusses the formation of companies in India including the definition of a company, stages of company formation, and key company documents. It notes that a company is formed when a group of people come together to exploit business opportunities by combining resources. The main stages of formation are promotion, name selection, incorporation by registering documents, and raising share capital. Key documents include the Memorandum of Association, which defines the company, Articles of Association, which covers internal regulations, and the Prospectus, which provides details for public share offerings.
company formation
Definition
Stages in Formation
Memorandum of Association (MOA)
Article of Association (AOA)
Prospectus
Definition
Stages in Formation
Memorandum of Association (MOA)
Article of Association (AOA)
Prospectus
help how company formed in pakistan
Corporate law topic wise
1. Pakistan adopted the British Companies Act of 1913 after independence in 1947 and made some changes in 1972 that abolished the Managing Agency system. Further changes were made in 1984 under the Companies Ordinance 1984 initiated by General Zia-ul-Haq's government.
2. Companies in Pakistan can be incorporated as private limited companies, public limited companies, or companies limited by guarantee. They must submit documents like memorandums of association, articles of association, forms, and fees to the Registrar who will issue a certificate of incorporation if all requirements are met. Public companies must additionally obtain a certificate to commence business.
3. Contracts signed by promoters before a company is incorporated are not binding on the
BBA-SEM-1-FBO-Company formation stages
slide provide Information of companies how its starts along with brief information of documents like Memorandum of Association and Articles of Association.
Bba 1 ibo u 2.1 co. act, incorporation, moa, aoa, prospectus
The document provides information on the Introduction to Business Organization subject for BBA I. It defines a company as an association of persons who contribute money or resources to a common stock to employ in a trade or business, sharing the profits or losses. A company is a separate legal entity, has perpetual existence, and members have limited liability. It also discusses the different types of companies like private and public companies, their key differences, and the process of incorporating a new company which requires documents like memorandum and articles of association, payment of registration fees, and statutory declaration. Promoters are defined as persons who undertake primary responsibility for promoting a company. The memorandum of association lays out the fundamental rules regarding the company's constitution and defines and confines
Formation of companies
The document discusses the formation of companies, including the definition, stages, and required documents. It outlines the key stages of formation as promotion, name selection, incorporation by registering the Memorandum of Association and Articles of Association, and raising share capital. It also describes the key company documents - the Memorandum of Association, which defines the company objectives and rules, the Articles of Association, which outlines internal regulations, and the Prospectus, which provides details of share offerings.
Company's act 1956 (part 1)
This document provides an overview of key aspects of company formation and regulation under the Companies Act of 1956 in India. It discusses the nature of companies and different types of companies. It also outlines the key stages of company formation including promotion, name selection, incorporation by submitting the Memorandum of Association and Articles of Association, and raising share capital. The Memorandum of Association defines the fundamental rules and area of operations, while the Articles of Association contains internal regulations. A prospectus is also required when inviting public subscription.
Company Act
The document discusses various requirements and formalities related to the appointment of directors and managing directors in companies under the Companies Act. It provides information on obtaining details from directors, differences between private and public companies, restrictions on loans and remuneration to directors, and requirements regarding appointment of managing directors and other managerial personnel.
Memorandum Of Association under Companies Ordinance 1984
The document discusses the Memorandum of Association, which is one of the three key legal documents formed by a company along with the Articles of Association and Prospectus. It defines the Memorandum of Association as the foundational document that sets out the constitution of a company by defining its name, objectives, capital structure, and liability of its members. The document also outlines the various clauses that must be included in the Memorandum of Association and the process for altering this document.
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The document outlines the steps to form a private limited company in India, which includes:
1) Selecting the company type and name, obtaining director identification numbers and digital signatures
2) Drafting the memorandum and articles of association
3) Filing documents like the memorandum, articles, eForms with the registrar and paying fees
4) Obtaining a certificate of incorporation from the registrar
Key requirements for a private limited company include a minimum of 2 directors, 2 shareholders, and a paid-up capital of INR 100,000. Directors must have a valid director identification number.
Promoter
A promoter is someone who establishes a business entity and handles the initial organization and registration. They bring together the necessary people and resources, file required documents, and arrange initial funding. Promoters have fiduciary duties to act in good faith and not profit secretly. They are responsible for preliminary contracts and liable for misstatements in documents like the prospectus. For their efforts, promoters may receive compensation like fully paid shares, cash and shares, commissions, or a fixed payment as outlined in the company articles.
Formation of a company
The document outlines the key stages in forming a company:
1. Promotion, where an individual called a promoter undertakes initial work to establish the company.
2. Incorporation, which occurs when the company registers with the Registrar of Companies by submitting important documents like the Memorandum and Articles of Association.
3. Capital subscription, where a public company can raise funds from public issue of shares and debentures through steps like SEBI approval and allotment.
4. Commencement of business, the final stage where the company receives a certificate from ROC allowing it to begin operations.
Company incorporation under nca 2013 and rules there under
The document summarizes key provisions relating to incorporation of companies under the Companies Act 2013. It discusses the different types of companies that can be formed, including public, private and one person companies. It provides details on the formation, limitations, conversion and penalties related to one person companies. The document also outlines the requirements for a company's memorandum of association, including the object and name clauses, and articles of association. It discusses provisions regarding alteration of memorandum and articles of association, registered office and service of documents. In addition, it covers commencement of business, conversion of companies and authentication of documents.
Formation of a company
This document discusses the formation and operation of a joint stock company. It describes the key stages in forming a company, including promotion, incorporation by registering with the Registrar of Companies, raising capital through shares, and commencing business operations. A joint stock company has a shared capital divided into shares that may be transferred, and is formed as a voluntary association for profit with limited liability of shareholders governed by a board of directors. The memorandum of association is the document that regulates a company's external activities and must be prepared upon formation.
Memorandum of association
The memorandum of association is the constitution of a company that defines its scope and powers. It includes the company name, registered office address, whether it has share capital, its objectives and activities, liability of members, and amount of authorized capital. The memorandum is a public document that binds the company and all parties dealing with it. It can only be altered through special procedures to protect shareholders and creditors. The doctrine of ultra vires holds that any acts beyond the objectives stated in the memorandum are invalid.
Indian companies act
There are several types of companies under Indian law based on incorporation, liability, control, and other factors. The main types include private and public companies, limited by shares or guarantee, chartered companies established by royal charter, statutory companies created by legislation, and foreign companies incorporated outside of India. A company is a separate legal entity from its owners and managers that can be established for business or nonprofit purposes.
Formation of company in pakistan
This document provides steps for registering a new company in Pakistan. It explains that promoters must first draft legal documents including a memorandum of association stating the company name, address, and liability, and articles of association outlining internal management and conduct of business. These documents along with nominal capital, qualifications of shares, list of directors, and declaration are then submitted to the registrar for incorporation. A private company can begin operations after receiving a certificate of incorporation, while a public company must also obtain a certificate of commencement after minimum share subscription and payment of directors' shares. The Securities and Exchange Commission of Pakistan oversees company registration through regional offices.
Company+law
The document compares the advantages and disadvantages of three forms of business ownership: sole trader, partnership, and company.
Sole traders have fewer legal requirements but unlimited liability, while partnerships allow for more capital but partners have joint liability. Companies make it easiest to raise capital through shared ownership but establishing one requires more legal work.
Steps in the Formation of a Public Limited Company
The document outlines the key steps involved in forming a public limited company in India. It begins by defining a company and public company. There are four main stages: 1) Promotion stage which involves identifying the business idea, investigating feasibility, and appointing professionals. 2) Incorporation stage requiring documents like memorandum of association, articles of association, and statutory declaration. 3) Capital subscription stage including SEBI approval, filing a prospectus, and minimum subscription of shares. 4) Commencement of business stage after completing prior stages. The document provides details on the documents and processes involved in each stage of forming a public limited company in India.
Formation of company
The document discusses the key steps involved in forming a company in India, including:
1. Electronic filing of forms with the Ministry of Corporate Affairs to incorporate the company.
2. Receipt of a Certificate of Incorporation from the Registrar once the memorandum and articles of association are filed.
3. The role of promoters in conceptualizing the company, securing initial funding, and completing the incorporation process before handing over control to the board of directors.
1 promotion & incorporation of a company
The document discusses the key aspects of company promotion and formation in India. It explains that promoters are responsible for conceptualizing the company and registering it with the appropriate documents. The promoters must decide whether to form a public or private company and prepare the Memorandum of Association (MoA) and Articles of Association (AoA) accordingly. The MoA outlines the company name, objectives, capital, while the AoA describes internal management rules. Promoters are responsible for filing these and other required documents to obtain a certificate of incorporation from the Registrar of Companies.
Promotion of a company
The document discusses the process of promoting and establishing a company. It begins by defining a promoter as someone who undertakes to form a company for a given project. Key promoter functions include identifying business opportunities, conducting feasibility studies, registering the company name, signing the memorandum of association, and preparing necessary legal documents. These documents - the memorandum of association, articles of association, consent of directors, and statutory declaration - are submitted to the registrar for incorporation. Upon receiving a certificate of incorporation, the company can legally operate and the promoters' pre-incorporation contracts become valid. The company may then raise capital through an initial public offering by issuing a prospectus and completing other steps.
Formation of a company
The document discusses the formation of Joshi Group & Co, a private company established by Biraj Joshi, Aamir Khan, and Sushobhan Acherjee. It outlines the key steps in forming a company, including promotion, incorporation, and raising capital. Some of the important documents required for registration include the memorandum of association, articles of association, consent from directors, and documents establishing the company's stated capital. The memorandum establishes items like the company's name, objectives, liability of members, and capital structure. The articles of association describe the internal regulations and governance of the company.
Lectures
This document discusses promoters and pre-incorporation contracts under Indian company law. It defines a promoter as a person who takes the initiative to establish a business organization. Though not defined in the Companies Act, promoters have certain fiduciary duties like disclosing profits and not making secret profits. The document discusses definitions of promoters and promoter groups under DIP Guidelines and judicial interpretations. It also outlines promoter liabilities and duties to disclose personal profits when dealing with the company. Pre-incorporation contracts are binding on companies after incorporation if adopted or ratified by them.
Company act
The document defines key terms related to companies in India such as the definition of a company, classification of companies, and requirements for formation, memorandum of association, articles of association, shares, share capital, and winding up. It discusses the main components of a company including its name, registered office, objectives, share capital, liability, association clause in the memorandum. It also describes the articles of association, share capital and shareholder types, and prospectus requirements.
Business law company act 1956
The document provides an overview of company law in India according to the Companies Act of 1956. It discusses the types of companies, the key documents that establish a company (the memorandum of association and articles of association), shareholders and debenture holders' rights, and winding up procedures. The act aims to regulate company formation, operations, and dissolution for the purposes of transparency, accountability and protecting stakeholder interests.
COMPANY ACCOUNTS 1.pptx
A company is a voluntary association of individuals formed for business purposes. It has a legal personality separate from its owners. The key characteristics of a company include limited liability, transferable shares, perpetual succession, and separation of ownership and management.
There are three main types of companies based on their formation: chartered, statutory, and registered. Companies are also classified based on liability as limited, unlimited, or guarantee companies. The two main types of registered companies are private and public companies, which differ in terms of membership limits, share transfer rules, minimum capital requirements, and legal formalities.
Forming a company requires filing documents like the memorandum of association, articles of association, share capital statement, list of directors and
Joint stock company
A joint stock company is a voluntary association of individuals formed for profit, with capital divided into transferable shares. Key features include limited liability for shareholders, perpetual existence separate from members, transferable shares, and common seal. There are various types of companies based on ownership, liability, incorporation, and number of members. A private limited company has restrictions on number and transfer of shares and number of members, while a public limited company can have unlimited members and transferable shares.
The key difference between pvt and public co,
There are key differences between private and public limited companies. A private limited company requires 2 or more members, has a maximum of 200 members, and restricts the transfer of shares. A public limited company requires 7 or more members, has no limit on members, and allows public subscription of shares. Private limited companies are smaller in scope while public companies can raise capital more widely from the public and have greater legal restrictions.
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Memorandum Of Association under Companies Ordinance 1984
The document discusses the Memorandum of Association, which is one of the three key legal documents formed by a company along with the Articles of Association and Prospectus. It defines the Memorandum of Association as the foundational document that sets out the constitution of a company by defining its name, objectives, capital structure, and liability of its members. The document also outlines the various clauses that must be included in the Memorandum of Association and the process for altering this document.
Cl
The document outlines the steps to form a private limited company in India, which includes:
1) Selecting the company type and name, obtaining director identification numbers and digital signatures
2) Drafting the memorandum and articles of association
3) Filing documents like the memorandum, articles, eForms with the registrar and paying fees
4) Obtaining a certificate of incorporation from the registrar
Key requirements for a private limited company include a minimum of 2 directors, 2 shareholders, and a paid-up capital of INR 100,000. Directors must have a valid director identification number.
Promoter
A promoter is someone who establishes a business entity and handles the initial organization and registration. They bring together the necessary people and resources, file required documents, and arrange initial funding. Promoters have fiduciary duties to act in good faith and not profit secretly. They are responsible for preliminary contracts and liable for misstatements in documents like the prospectus. For their efforts, promoters may receive compensation like fully paid shares, cash and shares, commissions, or a fixed payment as outlined in the company articles.
Formation of a company
The document outlines the key stages in forming a company:
1. Promotion, where an individual called a promoter undertakes initial work to establish the company.
2. Incorporation, which occurs when the company registers with the Registrar of Companies by submitting important documents like the Memorandum and Articles of Association.
3. Capital subscription, where a public company can raise funds from public issue of shares and debentures through steps like SEBI approval and allotment.
4. Commencement of business, the final stage where the company receives a certificate from ROC allowing it to begin operations.
Company incorporation under nca 2013 and rules there under
The document summarizes key provisions relating to incorporation of companies under the Companies Act 2013. It discusses the different types of companies that can be formed, including public, private and one person companies. It provides details on the formation, limitations, conversion and penalties related to one person companies. The document also outlines the requirements for a company's memorandum of association, including the object and name clauses, and articles of association. It discusses provisions regarding alteration of memorandum and articles of association, registered office and service of documents. In addition, it covers commencement of business, conversion of companies and authentication of documents.
Formation of a company
This document discusses the formation and operation of a joint stock company. It describes the key stages in forming a company, including promotion, incorporation by registering with the Registrar of Companies, raising capital through shares, and commencing business operations. A joint stock company has a shared capital divided into shares that may be transferred, and is formed as a voluntary association for profit with limited liability of shareholders governed by a board of directors. The memorandum of association is the document that regulates a company's external activities and must be prepared upon formation.
Memorandum of association
The memorandum of association is the constitution of a company that defines its scope and powers. It includes the company name, registered office address, whether it has share capital, its objectives and activities, liability of members, and amount of authorized capital. The memorandum is a public document that binds the company and all parties dealing with it. It can only be altered through special procedures to protect shareholders and creditors. The doctrine of ultra vires holds that any acts beyond the objectives stated in the memorandum are invalid.
Indian companies act
There are several types of companies under Indian law based on incorporation, liability, control, and other factors. The main types include private and public companies, limited by shares or guarantee, chartered companies established by royal charter, statutory companies created by legislation, and foreign companies incorporated outside of India. A company is a separate legal entity from its owners and managers that can be established for business or nonprofit purposes.
Formation of company in pakistan
This document provides steps for registering a new company in Pakistan. It explains that promoters must first draft legal documents including a memorandum of association stating the company name, address, and liability, and articles of association outlining internal management and conduct of business. These documents along with nominal capital, qualifications of shares, list of directors, and declaration are then submitted to the registrar for incorporation. A private company can begin operations after receiving a certificate of incorporation, while a public company must also obtain a certificate of commencement after minimum share subscription and payment of directors' shares. The Securities and Exchange Commission of Pakistan oversees company registration through regional offices.
Company+law
The document compares the advantages and disadvantages of three forms of business ownership: sole trader, partnership, and company.
Sole traders have fewer legal requirements but unlimited liability, while partnerships allow for more capital but partners have joint liability. Companies make it easiest to raise capital through shared ownership but establishing one requires more legal work.
Steps in the Formation of a Public Limited Company
The document outlines the key steps involved in forming a public limited company in India. It begins by defining a company and public company. There are four main stages: 1) Promotion stage which involves identifying the business idea, investigating feasibility, and appointing professionals. 2) Incorporation stage requiring documents like memorandum of association, articles of association, and statutory declaration. 3) Capital subscription stage including SEBI approval, filing a prospectus, and minimum subscription of shares. 4) Commencement of business stage after completing prior stages. The document provides details on the documents and processes involved in each stage of forming a public limited company in India.
Formation of company
The document discusses the key steps involved in forming a company in India, including:
1. Electronic filing of forms with the Ministry of Corporate Affairs to incorporate the company.
2. Receipt of a Certificate of Incorporation from the Registrar once the memorandum and articles of association are filed.
3. The role of promoters in conceptualizing the company, securing initial funding, and completing the incorporation process before handing over control to the board of directors.
1 promotion & incorporation of a company
The document discusses the key aspects of company promotion and formation in India. It explains that promoters are responsible for conceptualizing the company and registering it with the appropriate documents. The promoters must decide whether to form a public or private company and prepare the Memorandum of Association (MoA) and Articles of Association (AoA) accordingly. The MoA outlines the company name, objectives, capital, while the AoA describes internal management rules. Promoters are responsible for filing these and other required documents to obtain a certificate of incorporation from the Registrar of Companies.
Promotion of a company
The document discusses the process of promoting and establishing a company. It begins by defining a promoter as someone who undertakes to form a company for a given project. Key promoter functions include identifying business opportunities, conducting feasibility studies, registering the company name, signing the memorandum of association, and preparing necessary legal documents. These documents - the memorandum of association, articles of association, consent of directors, and statutory declaration - are submitted to the registrar for incorporation. Upon receiving a certificate of incorporation, the company can legally operate and the promoters' pre-incorporation contracts become valid. The company may then raise capital through an initial public offering by issuing a prospectus and completing other steps.
Formation of a company
The document discusses the formation of Joshi Group & Co, a private company established by Biraj Joshi, Aamir Khan, and Sushobhan Acherjee. It outlines the key steps in forming a company, including promotion, incorporation, and raising capital. Some of the important documents required for registration include the memorandum of association, articles of association, consent from directors, and documents establishing the company's stated capital. The memorandum establishes items like the company's name, objectives, liability of members, and capital structure. The articles of association describe the internal regulations and governance of the company.
Lectures
This document discusses promoters and pre-incorporation contracts under Indian company law. It defines a promoter as a person who takes the initiative to establish a business organization. Though not defined in the Companies Act, promoters have certain fiduciary duties like disclosing profits and not making secret profits. The document discusses definitions of promoters and promoter groups under DIP Guidelines and judicial interpretations. It also outlines promoter liabilities and duties to disclose personal profits when dealing with the company. Pre-incorporation contracts are binding on companies after incorporation if adopted or ratified by them.
Company act
The document defines key terms related to companies in India such as the definition of a company, classification of companies, and requirements for formation, memorandum of association, articles of association, shares, share capital, and winding up. It discusses the main components of a company including its name, registered office, objectives, share capital, liability, association clause in the memorandum. It also describes the articles of association, share capital and shareholder types, and prospectus requirements.
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COMPANY ACCOUNTS 1.pptx
A company is a voluntary association of individuals formed for business purposes. It has a legal personality separate from its owners. The key characteristics of a company include limited liability, transferable shares, perpetual succession, and separation of ownership and management.
There are three main types of companies based on their formation: chartered, statutory, and registered. Companies are also classified based on liability as limited, unlimited, or guarantee companies. The two main types of registered companies are private and public companies, which differ in terms of membership limits, share transfer rules, minimum capital requirements, and legal formalities.
Forming a company requires filing documents like the memorandum of association, articles of association, share capital statement, list of directors and
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A joint stock company is a voluntary association of individuals formed for profit, with capital divided into transferable shares. Key features include limited liability for shareholders, perpetual existence separate from members, transferable shares, and common seal. There are various types of companies based on ownership, liability, incorporation, and number of members. A private limited company has restrictions on number and transfer of shares and number of members, while a public limited company can have unlimited members and transferable shares.
The key difference between pvt and public co,
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The document discusses the concept of a company. It defines a company as a legal entity formed by individuals to operate a business. It then discusses key characteristics of companies like separate legal entity status, limited liability, perpetual succession, and common seals. It also discusses the concept of lifting the corporate veil in situations where a company's legal personality is misused. Finally, it briefly outlines different types of companies based on mode of incorporation, ownership, control, nationality, and number of members.
Company law
This document provides an overview of company law and secretarial practice in India. It defines a company and outlines its key characteristics such as separate legal identity, limited liability, transferable shares, and perpetual existence. It then classifies companies based on liability, members, control/holding, and other categories. The document also discusses company promotion, registration procedures, memorandum and articles of association, and the differences between private and public limited companies.
Joint stock company
- A joint stock company is a voluntary association of individuals who contribute money or money's worth to a common fund. The contributors share the profits or losses of the business proportionately.
- It has a separate legal entity from its owners, with its capital divided into transferable shares. Shareholders have limited liability and are not liable for the debts of the company beyond the face value of their shares.
- Joint stock companies allow for high capital accumulation as shares can be held by a large number of individuals. This facilitates large-scale industrial and commercial operations.
Topic 5 - Business Organization
This document provides an overview of different types of business organizations, including sole proprietorships, partnerships, corporations, and cooperatives. It discusses the key characteristics of each type of organization such as ownership structure and liability. The document also covers topics like forming partnerships and corporations, issuing stocks, mergers and acquisitions, the goals of business firms, and the role of government regulation. Finally, it outlines some Islamic principles for business organizations including emphasizing ethics, prohibiting uncertainty in transactions, and disallowing fraud.
Incorporation of a company
The document discusses the Memorandum of Association (MOA) and Articles of Association (AOA) which are the primary documents required to incorporate a company. The MOA defines the core objectives and activities of the company, while the AOA contains rules for internal management. Both documents can be altered, but the MOA requires more formal processes like shareholder approval. Together they provide the framework and governance for a company's operations.
Joint stock company
Definition , Features , Advantages , Disadvantages , Classification , Details of it's classification , Economic Importance of Joint Stock
Company in Bangladesh
Economic Importance of Joint Stock
Company in Bangladesh
Economic importance of joint stock company in Bangladesh , Method of formation , Modes of winding up .
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Company formation accounts -xi-Utsab Shrestha
- 1. Utsab Shrestha Adjunct Faculty- MBA/BBA @ Kathmandu shresthaautsab@gmail.com Company and its formation
- 2. Background The industrial revolution that happened during 18th and 19th century England paved way for large scale production and modern factory system. The modern factory system required huge capital and professional management. The concept of joint stock company or simply companies prevailed to overcome the limitations of sole proprietorship and partnership.
- 3. Meaning and definition According to James Stephenson- “ A company is an association of many persons who contribute money or money’s worth to common stock and employ it in some trade or business and who share the profits and losses arising therefrom.” According to Prof. L.H. Haney, “Company is an artificial person created by law having separated entity with a perpetual succession and common seal” Nepal Company Act 2063, “ A company refers to any company formed and registered under this
- 4. Characteristics of a company An artificial person • Separate existence, can buy and sell property on its own name and enter into contracts. Separate legal entity • A company is treated separate from its owners as far as law is concerned. Perpetual succession • Death, inability or lunacy of members does snot affect the life of a company Limited liability • Liability of owned is limited to the extent of face value of shares purchased. Transferability of shares • A shareholder can transfer the ownership of shares to another by sales. Common seal • It is the official signature of a company used to affix documents to make it official. Representative management • Shareholders elect their representatives who manage company on their behalf
- 5. Typesofcompanies On the basis of incorporation Chartered company Statutory company Registered company On the basis of liability Unlimited company Company limited by shares Company limited by guarantee On the basis of number of members Private company Public company On the basis of ownership Government company Non-government company
- 6. Onthebasisof incorporation Chartered company East India company, bank of England Statutory company NRB, ADB, NIDC Registered company Himal cement, Bhrikuti pulp and paper mills ltd.
- 7. Onthebasisofliability Unlimited company Shareholders liable to pay from personal property Company limited by shares Limited liability of shareholders Company limited by guarantee Shareholders promises to pay specific sum as guarantee.
- 8. Onthebasisofnumberof members Private company Members not more than 50. “Pvt. Ltd.” Prohibits sale of shares to general public Public company Shares are offered to general public Shares are transferrable. Nepal Bank Ltd, NIBL etc
- 9. Differences- Public vs Private company
- 10. On the basis of ownership Government company No less than 51% paid up share capital held by gov. Himal Cement, Janakpur Ciggarate Factory Non Government company Company owned, managed and controlled by the private sector CG, Panchakanya etc
- 11. Company Promoters Give birth to the company Generate the business ideas and discover business opportunities Investigate and perform feasibility analysis of business Select the name and location of business Determine objectives, mission and vision of business Prepare necessary documents like AOA, MOA etc. Perform various financial planning and business planning.
- 12. Maindocumentsofa company For a Pvt. Ltd. Company MOA AOA For a Public Ltd. Company MOA AOA Prospectus
- 13. Memorandum of Association (MOA) It is the main document of a company. It defines the objectives, powers and relationships with the outside world. The main contents of MOA are:- Name of the company Location of the company’s registered office . Objectives of the company Liability clause of the shareholder Amount of capital of the company Other necessary particulars
- 14. Articles of Association (AOA) It is a document that defines the rights, powers and duties of the management. The modes of carrying company’s business. Contents of AOA No. of directors and their terms and conditions Amount of minimum share subscription of directors Procedures for calling company’s meeting, AGM, EGM and notice for the meeting. Director’s remuneration and allowance Rights and duties of MD Provisions related to rules & regulations of internal management. Other necessary particulars.
- 15. Prospectus It is an invitation to the general public to purchase shares and debentures of the company. Circular Advertisement Offer Or any other document for invitation to general public.
- 16. Prospects consist of these information Info related to management and objectives. Capital structure of company- authorized, issued, subscribed and paid-up Terms and modes of payment, issue of shares on discount or premium. Details about brokerage, underwriting commission and preliminary expenses.