The Companies Act 1956 was an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.[1] It was repealed and replaced by the Companies Act 2013. The Act was administered by the Government of India through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc. The Registrar of Companies (ROC) handles incorporation of new companies and the administration of running companies. Since its commencement, it was amended many times, in which amendment of 1988, 1990, 1996, 2000 , 2011 & 2013 were notable. Types of companies There are 11 types of registrations for a company under the Companies Act 1956.[3] Private company Public company Companies limited by shares Companies limited by guarantee Unlimited company Section 25 company[4] Government companies Foreign companies Holding and subsidiary company Producer companies Deemed public company

2. A company is a legal entity formed by a group of individual to
engage in and operate business commercial or industrial
Enterprise.
●ACCORDING COMPANY ACT, 1956 :
“Under this act or an existing
company. Existing company means Company founded and register
under the previous company law” .
According to “Prof. L.H. Haney,”
“Company is artificial person create by
law having separate identity with perpetual succession and common
seal”.

3. 1. CORPORATE PERSONALITY :- A company incorporated
under the Act is vested with a corporate personality so it bears its own name,
acts under name, has a seal of its own and its assets are separate and
distinct from those of its members.
2. COMPANY AS AN ARTIFICIAL PERSON: A Company is an
artificial person created by law. It is not a human being but in act through
human beings.
3. COMPANY IS NOT A CITIZEN: The company, though a legal
person, is not a citizen under the Citizenship Act, 1955 or the Constitution of
India.

4. 4. C O M PANY HAS NATIO NALITY AND RESIDEN C E:
Though it is established through judicial decisions that a company
cannot be a citizen, yet it has nationality, domicile and residence.
5.LIMITED LIABILITY: “The privilege of limited liability for
business debts is one of the principal advantages of doing business
under the corporate form of organisation.”
6.PERPETUAL SUCC ESSION:An incorporated company never
dies, except when it is wound up as per law.

5. A. On the basic of incorporation :-
1. Chartered Companies.
2. Salutatory companies.
3. Register companies.
B. On the Basic Of liability:-
1.Limited liability companies.
2.unlimited liability companies.
C. On the basic of ownership:-
1 . G ovt. C ompanies.
2. Holding Companies .

6. D. O n the Basic of Transferability O f share :-
1. Public companies.
2. Private companies.
E . On the Basic Of Nationality :-
1. Inland companies.
2. Foreign companies .
F. On the Basic of other companies:-
1. Finance Companies.
2. Multinational companies.
3. Investment companies.
4. One person company.