FEATURES OF COMPANY UNDER COMPANIES ACT ,2013

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Presentation transcript:

FEATURES OF COMPANY UNDER COMPANIES ACT ,2013 PRESENTED BY:-AMIT BACCHAWAT TRAINING FORUM

2.REGISTERED UNDER COMPANIES ACT 1.VOLUNTARY ASSOCIATION Even a company can be a member of other company. 2.REGISTERED UNDER COMPANIES ACT

3.LEGAL ENTITY AND CORPORATE PERSONALITY 1. A company has a legal existence, which is distinct from that of members. 2.All assets and liabilities are held in the name of the company. The members are not agent of the company.

Member may come and members may go, but the company goes on for ever. 4.LIMITED LIABILITY Liability of members limited upto the face value of the share held by them. 5.PERPETUAL SUCCESSION Member may come and members may go, but the company goes on for ever.

8.COMMON SEAL- OPTIONAL NOWADAYS 9.OWNERSHIP AND MANAGEMENT 6.SHARE CAPITAL 7.TRANSFERABLE SHARES 8.COMMON SEAL- OPTIONAL NOWADAYS 9.OWNERSHIP AND MANAGEMENT

BODY CORPORATE INCLUDES Every company incorporated is a body corporate .But every body corporate is not the company. Company means company incorporated under COMPANIES ACT. BODY CORPORATE INCLUDES FOREIGN COMPANY INDIAN COMPANY LLP IS A BODY CORPORATE IT HAS FEATURES OF BOTH COMPANY AND PARTNERSHIP. Example:-Kabul express ltd.is a company in afganistan.is it a company? Ans:-No , because it should be registered under INDIAN COMPANIES ACT but it is a body corporate.

Q. TRUE OR FALSE :- PARTNERSHIP FIRM IS A BODY CORPORATE? Ans. False separate entity. SOME COMMON ABBREVIATIONS ROC:- REGISTRAR OF COMPANIES MCA:-MINISTRY OF CORPORATE AFFAIRS CLB:-COMPANY LAW BOARD (1.6.2016) NCLT:-NATIONAL COMPANY LAW TRIBUNAL

HOLDING AND SUBSIDIARY TYPES OF COMPANIES ON THE BASIS OF:- LIABILITY MEMBERS CONTROL ACCESS TO CAPITAL OTHERS Limited by Government co. HOLDING AND SUBSIDIARY ONE PERSON CO. LISTED SHARES UNLISTED SMALL CO. PUBLIC CO. ASSOCIATE COMPANY GUARANTEE SEC-8 CO. UNLIMITED CO. PRIVATE COMPANY NIDHI CO. DORMANT CO.

MGT-14 TO BE FILED WITH ROC WITHIN 30 DAYS OF PASSING SR. GENERAL MEETING ORDINARY RESOLUTION SPECIAL RESOLUTION MGT-14 TO BE FILED WITH ROC WITHIN 30 DAYS OF PASSING SR. Votes in favor more than votes against. Votes in favor are atleast 3 times votes against. Ex:-100 member present 50 did not vote 24 vote against 26 vote in favor . Is OR PASSED? YES Ex:-100 member attended 50 did not vote 40 favour 10 against Is SR PASSED? YES

UNANIMOUS BOARD RESOLUTION BOARD MEETING BOARD RESOLUTION UNANIMOUS BOARD RESOLUTION Votes in favor more than votes against. All directors present at board meeting should vote in favor.

MEMORANDUM OF ASSOCIATION NAME SITUATION OBJECT LIABILITY CAPITAL SUBSCRIPTION NOMINEE ARTICLES OFF ASSOCIATION:- CONTAINS BYE-LAWS,RULES,AND REGULATIONS THAT GOVERN THE INTERNAL MANAGEMENT OF THE COMPANY.