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2 is the maximum number of directors for a private company.

(c) Prospectus

• Industrial Finance Corporation Limited.
• Damodar Valley Corporation.

A listed company means a company which has any of its securities, shares or debentures listed on any recognised stock exchange. The shares and debentures issued by the companies can be freely traded on stock exchanges only when the company is registered with one of the recognized stock exchanges.

(a) East India Company

A private company, under Companies Act, means a company having authorised paid-up capital and which restricts by its articles:

• The right of members to transfer their shares. 
• Prohibits any invitation to the public to subscribe to its shares and debentures

The reason behind the company being an artificial person is that a company can buy or sell property in its own name. It can enter into contracts and can sue and be sued.

(d) All of the above

If a company can control the policies of another through the ownership of its shares or through control over the composition of its boards and directors, such a company is called a holding company

It regulates the internal activities of the company

The doctrine of constructive notice protects the company against outsiders.

The doctrine of indoor management seeks to protect the outsiders against the actions of the company. This was propounded in 1856 in Royal British Bank Vs. Marquand Case.

It is an artificial person whose business is run by a few natural persons in the interest or the profit of some natural persons.

1. It is an artificial person. 

2. A company enjoys separate legal existence from its members and board of directors. 

3. The existence of any company is shown through a common seal. 

4. Company is an unhidden union of people which is formed with the aim of earning a profit. 

5. The liability of every member of the company is limited.

6. The shares can easily be transferred. 

7. The issued shares and debentures are of less amount and that is why a common person can also invest in it.

The word ‘company’ has originated from Latin language.

(d) 9 months

Indian company act 2013 have 7 schedules.

According to Company Act. 2013, One female candidates have been made compulsory to be included in the Board of directors.

Company Act 2013 have 29 chapters.

(a) company against outsiders

In the year 1856.

Due to the high risk and limited shares in the business world, the need for such committee was there where the investment of shareholders would be safe, personal property would not be at stake in case of loss, business gain could be achieved in the absence of business know-how and skill, therefore business system came into existence.

Many companies evolved in the business administration due to industrial revolution after the second world war. By the end of 1950, the government of Independent India appointed a special committee under the chairmanship of H.C. Bhabha to go into the entire question of the revision of Indian companies act with particular reference to it’s bearing the development of Indian trade and industry.

The company has a single individual is called the one-person company.

A company is an artificial person who does business through its few natural persons in the interest or the profit of some natural persons.

To resolve the issues of high risks, unlimited liability, problems of risky investment, need for company form of organization was felt.

The company’s existence is different and independent from the persons who have founded the company, or who buy shares of the company. Even with its separate legal existence, the company doesn’t have citizenship under the Indian Citizenship Act 1955.

It is a principal document that defines the powers and objectives of the company and describes the scope of operations of a company.

Maximum number of members that can be in OPC are 15.

The companies that are not listed in the stock market (BSE, NSE) are called unlisted companies. The securities, shares and debentures issued by such companies are not freely traded in the stock markets.

One signatures must be there on the memorandum of Association in OPC.

If a company enters into a contract to do any business or activity which is outside the scope of MOA, then it will become void

The important features of MOA:

• It is a fundamental document. 
• It defines the scope of powers of the company. 
• It is compulsory for every company to frame it. 
• It is a public document, therefore every person who deals with the company is presumed to have knowledge of its content. 
• It is formed under the Company Act.

(d)  Table E

Schedule 1 of Table A contains the following contents of MOA of a company limited by shares: 

1. Name of the company. 

2. Registered office. 

3. Objects of the company. 

4. Liability of Members. 

5. Capital of Company. 

6. Declaration for a subscription. 

7. Nomination Clause.

Table F is assigned for a company limited by a share in MOA.

(d) All the companies

7 signatories are required to sign on the MOA of a public company.

(d)  15 days

(b) Joint Stock Company Act, 1850

Company Act are: 

1. The maximum efforts have been made to ensure the protection of interest of stakeholders and bringing transparency in the company’s working system. 

2. The duration for the first annual general meeting of the company is within 9 months. 

3. The maximum number of members for a private company has been increased to 200. 

4. If a company fails to pay 50% of its secured creditors it is assessed to be a sick company and 2013 Act contains provisions for revival and rehabilitation of such sick industries. 

5. Adequate provisions have been made to prohibit illegal insider trading. 

6. Under the Act of 2013, National Company Law Tribunal (NCLT) was constituted to take action against reported cases as well as to deal with the company problems. 

7. Central corporate law has made it compulsory for some special type of companies to at least have one female member. 

8. Allotted bonds by the company will not be included in the loan. 

9. For smooth operation of the company, E – management/e-governance has been introduced. 

10. The rules of prospectus have been made more stringent and effective to safeguard the issue of investors’ interest. 

11. OPC came into existence. 

12. The arrangement for the registration of the dormant company was also done in this act. 

13. A company can give 7.5% of the gross profit earned in the past 3 years as a donation to local parties. 

14. It is compulsory for every company to give 2% of their income in CSR. 

15. This act also provides for the registration of defunct companies.