Features of a Company
What are the types of companies under the act based on the number of members?
According to the Companies Act, 2013 there are 3 types of companies based on the number of members, One Person Company, Private Limited Company, and Public Limited Company.
What is the citizenship status of a company as per the Indian laws?
A company incorporated by the Companies Act, 2013 is not a citizen of India as per Section 2(f) of the Citizenship Act, 1955.
What is the meaning of OPC according to the Companies Act, 2013?
According to the Section 2(62) of the Companies Act, 2013 OPC means “One Person Company” and it consists of only one member.
Why Memorandum of Association is an essential document according to the Companies Act, 2013?
The Memorandum of Association is a very essential document as it provides the foundation for the company on which it started and it also provides the ambit of the area in which the company can run its business.
What are the types of companies under the act based on domicile?
Under the Companies Act, 2013 there are 2 types of companies based on domicile; i.e., Foreign Companies and Indian Companies. Section 2(42) of the act defines the meaning of a Foreign Company.
What is the difference between a Company and a Corporation?
A Company is formed by the rules of the Companies Act, 2013 and a Corporation is formed by the government by special acts that are passed by the government in the parliament.
Reference:
- Ministry of Corporate Affairs
Note: The information provided is sourced from various websites and collected data; if discrepancies are identified, kindly reach out to us through comments for prompt correction.