all types of companies their act and summary

Admin
March 03, 2023

Here is a list of different types of companies that operate in India, along with their respective acts and a brief summary of each act:

  1. Private Limited Company: Companies Act, 2013

    • A private limited company is a type of company that has a minimum of two and a maximum of 200 shareholders. It cannot invite the public to subscribe to its shares.

  2. Public Limited Company: Companies Act, 2013

    • A public limited company is a type of company that has a minimum of seven shareholders. It can invite the public to subscribe to its shares.

  3. One Person Company: Companies Act, 2013

    • A one-person company is a type of company that has only one person as its member and director. It has limited liability and cannot invite the public to subscribe to its shares.

  4. Section 8 Company: Companies Act, 2013

    • A section 8 company is a non-profit organization formed for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, or any other useful object. It has limited liability and enjoys certain tax benefits.

  5. Producer Company: Companies Act, 1956

    • A producer company is a company formed by a group of people engaged in the production of primary produce or having one or more objectives related to primary produce. It has limited liability and is regulated by the Ministry of Corporate Affairs.

  6. Non-Banking Financial Company: Reserve Bank of India Act, 1934

    • A non-banking financial company is a company that is engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase, insurance business, or chit fund business. It is regulated by the Reserve Bank of India.

  7. Small Company: Companies Act, 2013

    • A small company is a company with a paid-up capital of less than Rs. 50 lakh or turnover of less than Rs. 2 crore. It enjoys certain exemptions under the Companies Act, 2013.

  8. Holding and Subsidiary Company: Companies Act, 2013

    • A holding company is a company that controls the composition of the board of directors of another company. A subsidiary company is a company that is controlled by another company.

  9. Government Company: Companies Act, 2013

    • A government company is a company in which at least 51% of the paid-up share capital is held by the government or the central government. It is regulated by the Ministry of Corporate Affairs.

  10. Foreign Company: Companies Act, 2013

    • A foreign company is a company incorporated outside India, but which has a place of business in India. It is regulated by the Ministry of Corporate Affairs.

  11. Limited Liability Partnership: Limited Liability Partnership Act, 2008

    • A limited liability partnership is a partnership in which each partner's liability is limited to the amount of their agreed contribution. It is governed by the Limited Liability Partnership Act, 2008.