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Constitution of India - Constitutional laws - Indian Judicial process
The word 'Company' is an
amalgamation of the Latin word 'Com' meaning "with or together" and
'Pains' meaning "bread". Originally, it referred to a group of persons
who took their meals together. A company is nothing but a group of
persons who have come together or who have contributed money for some
common person and who have incorporated themselves into a distinct legal
entity in the form of a company for that purpose. Under Halsbury’s Laws
of England, the term "company" has been defined as a collection of many
individuals united into one body under special domination, having
perpetual succession under an artificial form and vested by the policies
of law with the capacity of acting in several respect as an individual,
particularly for taking and granting of property, for contracting
obligation and for suing and being sued, for enjoying privileges and
immunities in common and exercising a variety of political rights, more
or less extensive, according to the design of its institution or the
powers upon it, either at the time of its creation or at any subsequent
period of its existence. However, the Supreme Court of India has held in
the case of State Trading Corporation of India v/s CTO that a company
cannot have the status of a citizen under the Constitution of India.
Characteristics of a company
# Different Types of Company
# Promotion and Formation of a Company
# Membership of a Company
# Capital of a Company
# General Meetings
# Accounts and Audit
# Remuneration of Directors
Inter Corporate Loans and
# Directors and Managing Directors
# Meetings of Board
# Board's powers and restrictions
# Loans to directors
# Disclosure of Director's Interest
# Prevention of Oppression and Mismanagement
# Arbitration, Compromises, Arrangements & Reconstruction
|# Company law Forum - Hot Topics|
Human Rights, Environment & Industrial Disaster: Globalization has influenced trade all over the world; companies have looked...
Laws Regulating Mergers & Acquisition In India: A merger is a combination of two companies where one corporation is completely....
Vicarious Liability Of Directors And Officers On Bouncing Of Cheques: in the light of decisions of the Apex Court, provisions relating to section 141(1)..
Strikes and Lockouts: In any Industrial endeavour co-operation of labour and capitalis quite....
Company Law Board v. Arbitral Tribunal: The legislature never intends to contradict itself....
Risk Management under Basel II in the light of COSO-ERM& Maturity Model
Trade Secret: Trade secret is a formula, process, device, or other business information,...
Mergers In Pharma Sector: Takeovers in the Pharmaceutical industry are the current rage ll over the world......
WTO & Development In Developing Countries: The problem of our age is growing economic disparity between developed and industrialized ....
Changing Sovereignty in The Light Of WTO: Sovereignty means the right of the nations to govern them. This concept has fostered....
Odious Debt: It seems there are not too many lawyers who have an understanding of or about the technical meaning of odious debts......
Companies Bill, 2009: The Companies Act, 1956 is the principal landmark legislation that governs companies in India......
Lacunae of Operational Risk: The scenario of banking all across the world has experienced a dynamic increase in....
Incorporation of companies: A Private Limited Company is a Company limited by shares in which there can be maximum 50 shareholders...
Mergers and Acquisitions: Merger is defined as combination of two or more companies into a single company where one survives......
From GATT to WTO: In the article I have discussed how WTO has emerged. The World Trade Organisation, the primary international.....
Wagering Contracts: The meaning of ‘wagering’ is staking something of value upon the result....
TRIPS: Developing countries have raised a range of different concerns with the .....
Corporate Social Responsibility: Globalization has influenced trade all over the world.....
External Commercial Borrowings: It provides quite a few advantages to the borrower as well.....
Duties & Liabilities of Officers of a Company: The statutory principles of Corporate Law in India.....
Protection Of The Investors By Sebi: This particular paper highlights the dedication of the Securities and Exchange Board of India (SEBI)......
Relevance of Quasi-Contracts: There are certain situations wherein certain persons are.....
Listing & Delisting Of Securities: Listing & delisting of securities is one of the important process in trading. In the market condition......
E-Cheque System in India: Amendments in the Sections 6 and 1(4), coupled with the introduction of 81 A to the Negotiable Instruments Act, 1881 ......
Shareholders Agreement: Whether an excercise of such "put option" ie a right to sell, can be enforced by the investors without violating SCRA, 1956......
Alternate Dispute Resolution & the Common Man: Alternate Dispute Resolution popularly called by its generic acronym ADR...
Infrastructure Investments in India: For an emerging economy like India, with more than a billion people, infrastructure,.....
LLP in India: Introduction of limited liability partnership in India and what LLP actually is.......
Section 372A of the Companies Act: discuss practical aspects and provisions of the Section 372A of the Companies Act, 1956.......
Anti-Dumping: Liberalization, Privatization and Globalization [known as LPG] have......
Indian Domestic Arbitration: In India, laws/rules that govern the arbitration process are laid down in Arbitration and Conciliation Act, 1996.......
Downward trend of Real Estate - A boon for NRI’s: on the changing face of the Indian real estate in India and how this downfall could help the NRIs..
Directors of a Company: company is a legal entity and does not have any physical existence.....
Foreign Direct Investment In Telecommunications Sector: One of the most significant contributors to India’s booming economy is the....
Promoter/Promoter Group: The term "Promoter" finds its place in the company law, it has not been defined anywhere under the Companies Act, 1956...
Predatory Pricing: Predatory pricing is a strategy that entails a temporary price below...
Winding Up of a Company :
Domicile Of A Pseudo-Foreign
Companies (Amendment) Bill 2001:
Need For Incorporation Of Business:
Fiduciary Duty Of An Auditor
External Commercial Borrowings: The Master Blaster
Of Corporate World:
Securitisation: A Boon for the Banking Sector:
Can Independent Non-Executive Directors
Non Performance Of Non-Performing Assets
Poison Pills: Poison pills form the very heart of the corporate re-structuring, mergers and acquisitions currently, hostile takeovers account for 19 per cent of global mergers and acquisitions....
Nomination By Shareholders Of A Director From The Promoter Company: When the shareholders nominate a person as director from the promoter company, whether such person...
Foreign Currency Convertible Bonds: India is the 7th largest and 2nd most populous country in the world. It is also the 4th largest economy in the world. A series of striving monetary reforms...
Third Party Insurance: This paper is an endeavour to explain the relevance of third party insurance? What is third party insurance? Who is a third party? Why third party insurance...
Combating Hostile Takeovers: This article analyses the concept of ‘Hostile Takeovers’ and the various defensive strategies adopted by the companies to ward off unwarranted takeovers ....
Choice of law by the parties to the contract: In this era of globalization where a contract contains one or more foreign elements, the difficult and complicated..
Mergers: Merger is a tool used by companies for the purpose of expanding their operations often aiming at an increase of their long term profitability......
SEBI - Insider Trading: aims to equip the readers with the basic concept of insider trading. it gradually proceeds from an introduction of the concept to the regulations..
Bank Frauds: Fraud is any dishonest act and behaviour by which one person gains or intends to gain advantage over another person. Fraud causes loss to the victim directly or indirectly...
Corporate Insolvency & Restructuring: In order to discipline the Indian corporate insolvency and restructuring process, several efforts have been made, viz. SICA, SFC, DRT Act, SARFAESI...
Retail Sector & FDI
Mergers & Takeovers
Options Available For A Foreign Entity To Invest
Whistle-blowers and the law: the process by which employees working in a public or private corporation blow the whistle or disclose claims of malpractices by or within the organizations
Conditions Implied and Express
Jurisdiction in International Letter of Credits:
Legal Position Of Managing Director
Right to strike under Industrial Dispute Act, 1947
Mergers And Amalgamations
Why is NBFC a House Divided unto
Form in India:
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Types of Companies
1.Public Company means a company which not a private company.
2.Private Company means a company which by its articles of association :-
Restricts the right of members to transfer its shares
Limits the number of its members to fifty. In determining this number of 50, employee-members and ex-employee members are not to be considered.
Prohibits an invitation to the public to subscribe to any shares in or the debentures of the company.
If a private company contravenes any of the aforesaid three provisions, it ceases to be private company and loses all the exemptions and privileges which a private company is entitled.
Following are some of the privileges and exemptions of a private limited company:-
Mimimum number is members is 2 (7 in case of public companies)
Prohibition of allotment of the shares or debentures in certain cases unless statement in lieu of prospectus has been delivered to the Registrar of Companies does not apply.
Restriction contained in Section 81 related to the rights issues of share capital does not apply. A special resolution to issue shares to non-members is not required in case of a private company.
Restriction contained in Section 149 on commencement of business by a company does not apply. A private company does not need a separate certificate of commencement of business.
Provisions of Section 165 relating to statutory meeting and submission of statutory report does not apply.
One (if 7 or less members are present) or two members (if more than 7 members are present ) present in person at a meeting of the company can demand a poll.
In case of a private company which not a subsidiary of a public limited company or in the case of a private company of which the entire paid up share capital is held by the one or more body corporates incorporated outside India, no person other than the member of the company concerned shall be entiled to inspect or obtain the copies of profit and loss account of that company.
Minimum number of directors is only two. (3 in case of a public company)
The Company Law Board on being satisfied that the infringement of the aforesaid 3 conditions was accidental or due to inadvertence or that on other grounds, it just an equitable to grant relief, may grant relief to the company from the consequences of such infringement. The infringement of the aforesaid 3 conditions does not automatically convert a private company into a public company. It continues to remain a private company; it merely ceases to be entitled to the privileges and exemptions available to a private company.
Insurance Act came into force on July 1, 1939 to consolidate and amend the law relating to business of insurance both of life and general insurances; this replaced earlier Life Assurance Companies Act, 1912 and Provincial Insurance Societies Act, 1922 which were only in respect of Life insurance. The basic object of the Act was to ensure that vast power concentrated in the hands of insurance companies was not abused and the policy holder’s money was safely invested. However, inspite of the regulations by the law, and restrictions by the Controller of Insurance there was much abuse of the trust by the private insurers therefore this lead to step towards nationalization of life insurance in 1956, and of general insurances in 1972, therefore insurance business came to be conducted through Central Government under life insurance corporations and general insurance corporations.
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(*) Office Or Place Of Profit - Scope & Proposed
(*) Buy Back of shares under the Companies Act, 1956
(*) Takeover Code - An Insight
(*) Recovery of debts due to banks & financial Institutions
(*) International Trade & Finance
(*) Corporate Insolvency Laws In India
(*) Evaluating Trade Secrets Under The IPR Paradigm
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Lifting The Corporate Veil
(*) Liquidated Damages v. Penalty
(*) Corporate Criminal Liability
(*) Corporate Crimes
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