The document defines a company according to Section 3(1) of the Companies Act of 1956. It states that a company is a group of people registered as a corporate body that has perpetual succession and a common seal. However, the definition varies in different sections of the Act for specific purposes. The document also discusses how a company differs from a partnership in terms of ownership and liability. Finally, it establishes that a company can legally be a partner in a partnership firm according to the Companies Act and principles of partnership law.
Registration and establishment of qs company in sri lanka Ishanthi Perera
In Sri Lanka company establishment is done under Companies Act No 07 2007. According to the purpose of the company type of the company will be decided considering the advantages & disadvantages of it.
When considering the registering process of Limited Liability Company it will be done as per the Companies Act No 07 of 2007. It will give the vast description of company registration in Sri Lankan contest.
A company, formed and registered under the Companies Act (1994), is regarded by law as a single person, having specified rights and obligations (Duties/Responsibilities). The law confers on a company a distinct legal personality, with perpetual succession and a common seal. Therefore a company is different from its members and the individuals composing it.
Corporate legal Services - Company IncorporationAccuprosys
Planning to register a business or get your company incorporated? We get the A to Z of company establishment and incorporation done for you. Incorporation is the process of transforming a business into a legal entity that is recognized under law.
Company: Meaning,characterstics and types.Sanjay Singh
DEFINATION OF COMPANY:-
Section 3 (1) (i) of the Companies Act, 1956 defines company as “a company formed and registered under this Act or an existing company”.
Section 3(1) (ii) Of the act states that “an existing
company means a company formed and
registered under any of the previous companies laws”.
Registration and establishment of qs company in sri lanka Ishanthi Perera
In Sri Lanka company establishment is done under Companies Act No 07 2007. According to the purpose of the company type of the company will be decided considering the advantages & disadvantages of it.
When considering the registering process of Limited Liability Company it will be done as per the Companies Act No 07 of 2007. It will give the vast description of company registration in Sri Lankan contest.
A company, formed and registered under the Companies Act (1994), is regarded by law as a single person, having specified rights and obligations (Duties/Responsibilities). The law confers on a company a distinct legal personality, with perpetual succession and a common seal. Therefore a company is different from its members and the individuals composing it.
Corporate legal Services - Company IncorporationAccuprosys
Planning to register a business or get your company incorporated? We get the A to Z of company establishment and incorporation done for you. Incorporation is the process of transforming a business into a legal entity that is recognized under law.
Company: Meaning,characterstics and types.Sanjay Singh
DEFINATION OF COMPANY:-
Section 3 (1) (i) of the Companies Act, 1956 defines company as “a company formed and registered under this Act or an existing company”.
Section 3(1) (ii) Of the act states that “an existing
company means a company formed and
registered under any of the previous companies laws”.
LLB LAW NOTES ON COMPANY LAW
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Types of Companies under Companies Act, 2013 in India.pptxtaxguruedu
The term “company” does not have a purely technical or legal definition. It could be said to signify a grouping of people who share a common object or objects. People may associate themselves for a wide range of goals, including both materialistic and immaterial ones. However, the term “company” is typically only used to refer to groups that have come together for profit-making goals.
LLB LAW NOTES ON COMPANY LAW
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FREE AGREEMENTS AND CONTRACTS FORMATS
FREE LLB LAW NOTES
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FREE LLB LAW FIRST SEM NOTES
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KANOON KE RAKHWALE INDIA
HIRE LAWYER ONLINE
LAW FIRMS IN DELHI
CA FIRM DELHI
VISIT : https://www.kanoonkerakhwale.com/
VISIT : https://hirelawyeronline.com/
CA NOTES ON THE INDIAN COMPANY ACT 2003
FREE AFFIDAVITS AND NOTICES FORMATS
FREE AGREEMENTS AND CONTRACTS FORMATS
FREE LLB LAW NOTES
FREE CA ICWA NOTES
FREE LLB LAW FIRST SEM NOTES
FREE LLB LAW SECOND SEM NOTES
FREE LLB LAW THIRD SEM NOTES
FREE LLB LAW FOURTH SEM NOTES
FREE LLB LAW FIFTH SEM NOTES
FREE LLB LAW SIXTH SEM NOTES
FREE CA ICWA FOUNDATION NOTES
FREE CA ICWA INTERMEDIATE NOTES
FREE CA ICWA FINAL NOTES
KANOON KE RAKHWALE INDIA
HIRE LAWYER ONLINE
LAW FIRMS IN DELHI
CA FIRM DELHI
VISIT : https://www.kanoonkerakhwale.com/
VISIT : https://hirelawyeronline.com/
Types of Companies under Companies Act, 2013 in India.pptxtaxguruedu
The term “company” does not have a purely technical or legal definition. It could be said to signify a grouping of people who share a common object or objects. People may associate themselves for a wide range of goals, including both materialistic and immaterial ones. However, the term “company” is typically only used to refer to groups that have come together for profit-making goals.
Registration process of private limited company in BangladeshMd. Rakibul Hasib
This report discuss the "Registration process of private limited company in Bangladesh." It was made as assignment report of IUB. All the content are taken from web sights or the text book that are mentioned in the document.
This PPT covers meaning and definition of company, features of company, association of company, memorandum of Association, Articles of Association, Prospectus, Promoters
Chapter FourPartnership, Corporation and Agency law TH.docxtiffanyd4
Chapter Four
Partnership, Corporation and Agency law
THE COMMERCIAL COMPANIES LAW No.18/2019
Course: Business Law
Course Code: BALW4115
Specialization: Common
Department of Business Studies
Outcome:
At the end of this chapter, the student should be able to:
1. Describe the formation and operation of partnerships and corporations including limited partnerships.
2
General Provisions:
3
The provisions of this Law shall apply to commercial companies whose principal places of business are located in the Sultanate or which carry out their principal activities therein.
A commercial company is a legal entity established under a contract by two or more persons each of whom undertakes to participate in an enterprise for profit, by contributing a share of the capital in the form of tangible or intangible property, services or labour, with a view to sharing any profit or loss resulting from the enterprise.
As an exception from the provisions of the preceding paragraph, the company may be comprised of one person in accordance with the provisions of this Law.
General Provisions:
4
Commercial companies must adopt one of the following forms:
1. General Partnership
2. Limited Partnership
3. Joint Venture
4. Joint Stock Company (public / closed).
5. Holding Company
6. Limited Liability Company
7. One-Person Company
General Provisions:
5
Any company which carries out a commercial business without adopting one of the forms provided for in Article (4) of this Law, shall be considered null and void.
All the persons who have carried out business or acted in the name of the company or to its account shall be severally and jointly liable for the obligations arising from the business or actions made by them.
6
The Concerned Body may issue models of Constitutive Documents.
The Constitutive Documents shall be:
Apart from the joint venture, It shall be available to the public for perusal, and they must be registered in accordance with the laws in force.
Shall not contain any condition for absolving the founders or some of them from any responsibility resulting from the establishment of the company.
Apart from the joint venture, the Constitutive Documents and any amendments thereto must be written in the Arabic Language, otherwise they will be null and void.
General Provisions:
7
The objective of the company must be lawful.
The persons who have carried out business or acted in the name of the company or to its account shall be jointly liable for the obligations arising from the business carried out or acts made by them.
Any company established in the Sultanate shall be of an Omani nationality and shall enjoy the privileges prescribed by this Law.
It must have the Sultanate as its principal place of business and it may have one or more branches in the Sultanate or abroad.
General Provisions:
8
Companies with foreign capital contributions may be established, provided that the principal place of each of them shall be in t.
Background of Company Law in England,
Background of Company Law in India,
Definition of Company,
Nature & Characteristics,
Features of Company,
Lifting the corporate veil,
Types of Companies,
Formation of a Company,
Memorandum & Article of Association,
Prospectus,
Share & Share Capita,
Company Management & Director,
Meetings,
Borrowing Powers,
Debentures & Charges,
Accounts & Auditors,
Prevention of oppression & Mismanagement,
Winding up,
Here we are going to see Challenges Faced in the Protection of Patent Rights – Patent Registration in Coimbatore to make you understand in a very clear manner.
We Solubilis one of the best professional companies register your IECode registration in Chennai. We have more than 5 years of experience in application of IE Code. Our team of professionals and dedicated individuals aims for the clients to be satisfied for our service.
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What is Importer Exporter Code (IEC)
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We are the leading corporate service provider in Coimbatore namely "Solubilis Corporate Services" . We offering services at affordable cost within specified time period.
We are the leading corporate service provider in Coimbatore namely "Solubilis Corporate Services" . We offering services at low cost within specified time period.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
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What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
2. Company [Section 3(1) of Companies
Act, 1956]
The definition of “Company” in sub-section (1)(1) of section 3 of the 1956
Act, is subject to the other definitions given in other provisions of the
1956 Act for the limited purposes stated therein. In Telesound India
Ltd., it was held that though the word companies is generally defined
in section 3 of the 1956 Act, the definition cannot be used to cut down
the scope of the word companies as defined in other sections for their
own different purposes. For Example, Section 390(a) of the 1956 Act
defines the companies for the purposes of the section
“as a company liable to be wound up under this Act”. The court said
that if the word companies were to be restricted to the definition of
section 3 of the 1956 Act, a large number of companies, such as,
unregistered companies and foreign companies would be outside the
preview of the provisions contained in Chapter 5 of the 1956 Act with
regard to compromise, arrangement, reconstruction etc., even though
these categories would be within the winding up sweep of the Act.
www.companyregistrationinmadurai.in
4. For the purposes of Industries Development
and Regulations Act, 1951 which permits the
take-over of the company’s management, it
has been held that a word “Company” does
not include a partnership firm. A
banking company registered under the
Sikkim Registration of Companies Act, 1961
has been held to be a company within the
meaning of section 5(d) of the Banking
Regulation Act, 1949 and section 3 of the 1956
Act. Note that the word “Company” as
defined in section 3 of the 1956 Act does not
include a foreign company. But the word
when used with “holding” and “subsidiary”
is wider in scope and includes also a foreign
body corporate.[Section 4(5) of the 1956 Act].
www.companyregistrationinmadurai.in
5. Existing Company
The definition necessarily implies the actual
existence of the company. A company which
has become defunct and whose name has
been struck off the register under section 560
of the 1956 Act, will not come within the
definition of existing company. A business
registered under the Sikkim registration of
Companies Act, 1956, is not a company
within the meaning of section 3(1) (2) of the
1956 Act nor an existing company within the
meaning of section 3(1)(2) of the 1956 Act.
The provisions of the 1956 Act do not extend
to the state of Sikkim.
www.companyregistrationinmadurai.in
7. Section 3 of the Companies Act,
1956 – Foreign company
The term “company” as defined in section 3 of
the 1956 Act. It denotes a group of persons and
the effect of registration under the Act is that
such a group becomes a corporate body having
perpetual succession and a common seal. The
1956 Act, in its several provisions, has given
effect to a democratic set-up to the association
called the “Company“, the management vesting
in its Board of Directors and the ultimate control
remaining with the organisation in general
meeting. The legal fiction created by sub-section
(2) of section 591 of the 1956 Act does confer on
a foreign companies any exalted state so as to be
treated as a business incorporated in India.
www.companyregistrationinmadurai.in
8. Company and Partnership
The points of difference between a company and
a partnership as noted in PALMER. ” The
principle that, apart from exceptional cases, the
business is a body corporate, distinct from its
members, lies at the root of many of the most
perplexing questions, that beset company’s Law.
It is a fundamental or cardinal distinction-a
distinction which must be firmly grasped. The
principle is thrown into clear relief by contrasting
an incorporated companies with a partnership,
for under English Law (though not the Scottish
law or that of most Continental systems) a firm or
partnership is not a separate entity from its
members.
www.companyregistrationinmadurai.in
10. In case of a partnership the property of the firm belongs
to the individual members. They are collectively entitled
to it , whereas, in the case of a business, it belongs to the
company’s and not to the members.
Creditors of a firm are creditors of the members of the
firm, and on obtaining judgement against the firm can
levy execution on the property of the partners in the firm,
whereas, in the case of a business, “the creditor has no
debtor but that impalpable thing, the corporation,” and
the judgement against the companies normally gives no
right to levy execution against the members.
A member of a firm can on behalf of the firm dispose of
property and incur liabilities , within the scope of the
business, to any extend, whereas a member of
a company, as such, has no power.
A partner cannot contract with the firm, whereas a
member of the companies can contract with the
organisation.
www.companyregistrationinmadurai.in
11. COMPANY AS PARTNER
The 1956 Act recognizes that a company can be a partner in
a partnership firm. Under Schedule 6 of the 1956 Act, under
the Sub-head ‘loans and advances’, advances and loans to a
partnership firm in which the companies or any of its
subsidiaries is partner, has to be disclosed separately.
Thus,it is possible for companies to be a partner in a firm, as
the business is a legal person. The object clause of the
memorandum of association must contain the power
enabling the companies to enter into partnership with any
person or company. There was not be any operational
difficulty in case of a organisation/business becoming a
partner in a firm . Such partner-company could act through
its officers duly authorized in this behalf. “Nationally and
juristically if two incorporated companies under the Indian
Companies Act enter into a partnership , then each
organisation becomes the agent for the other and agrees to
share the profits.
www.companyregistrationinmadurai.in
13. This will create many problems for the two incorporated
companies. Both the companies will have to be, therefore,
the agents for each other in a manner which may not be
permissible at all by their own articles and
memorandum. It would be difficult to apply the very
specific rights and obligations as between partners in the
case of companies as partners, such as Chapter 3 ,and
Chapter 4 and Chapter 6 of the Partnership Act, 1932.
Then there is need also for the registration of firms and
the companies as such partners in a partnership will have
to, therefore, obey the two masters, the Registrar of Firms
and Registrar of Companies.” It is not only the
individuals who can be partners in a firm, an
incorporated companies may form a partnership with an
individual. Company’s may also enter into a joint
venture with any person or firm or any other form of
association. A company may also become partner in
a limited liability partnership (LLP). In short, a
business being a juristic person is to entitled to almost all
of the rights of association conferred on natural persons.
www.companyregistrationinmadurai.in
14. Where a company can enter into partnership or not is no
longer open to doubt. The Department of Company’s
affairs has in its circular no. 1-81, dated 14-09-1981. The
1956 Act itself recognizes the legality of a business being
partner in a partnership firm. A business being a juristic
person can do all that a natural person can, add there is
nothing in the principles of partnership which excludes
a business from being a partner. A business which is
authorized to carry on a business is by implication
authorized to carry the same business in partnership
or as the joint venture. The position of companies as a
partner is thus stated: ” A company may be a partner in
a partnership, indeed all the partners in the partnership
may be companies. These Companies, like all partners
(except limited partners of a limited partnerships), are
liable for all the departments of the partnership without
limitation, that the liability of the incorporators that is
members of those partnerships, is limited is irrelevant
www.companyregistrationinmadurai.in