Tuesday, 15 February 2022

Company act

 Talking the company is the artificial person created by the law. The company is considered as the artificial person. Taking more on this topic the bill was been passed on the 2013 in the act of the parliament means (both the house where as the Rajya Sabha and Lok Sabha) which its regularities mainly the companies which are been held responsible for regulating the policy.  If we see structure of the companies act it talks about where the it has divided into 29 chapters contain 470 sections of 658 section. This is considered as one of the longest chapters and sections. Like we have in the 112 chapters of 22 sections. 

This section mainly contains of company law. Talking more about the history of the company law as you know it was enacted from the previous year 2013. When the bill was been introduced before the act of parliament of India like normal procedure when the bill, they made they presented before the parliament. In this case also the same the bill was been produced. This gives the duty to register the company. Why because it gives guaranty to the state to make sure that they are always having the awareness. 

There are two types of the company basically the public company ay as well as the private company. In the terms of the public company, it is some authorities by the public to the bank. The names end with the public LTD. It can invite to purchase it is share or debentures. It can invite more than 50 members. It can invite to public. Talks about private company to end with the PVT ltd. It cannot invite to public shares or debentures. It cannot have more than the 50 members. 

So, these are two types of the bank which was discussed above. Moreover, we can say that it gives us duty to proceed with the duties to be bound when we start the company. Like for example the companies for usually if they want to register the product. They should get certificate from the food product company known as the licenses. It is must for everyone who wishes to start the company on the food process. This is known as the same when we apply in the company act.  There should be legal support for protecting the document. It should be one of the document which should be in support of the document which can provide legal entity. 

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