According to Bangladesh company act 1994, explain the all types of company formation.
1.Public company: Public company means a company incorporated under this Act or under any law at any time in force before the commencement of this Act and which is not a private company.
2. Private company: Private company means a company which by its articles-
Restricts the right to transfer its shares, if any,
Prohibits any invitation to public to subscribe for its shares or debenture,
3.Unlimited company: An unlimited company is one in which the members’ liability is unlimited. Thus, in such companies, the members remain personally liable for the payment of all liabilities of company.
4.Limited company: A limited liability company refers to the company in which the members bear limited liabilities. Here members’ liability is confined to a limited amount and they are not personally liable for the payment of all liabilities of company.