Companies Act, 1994 “Company means a company formed and registered under this Act or an existing company”. Thus, a company is an association of persons formed under the Companies Act, 1994 with a view to achieving some common objectives. And company formation is the process of incorporating a business. Upon incorporation, a private limited company becomes a separate legal entity; an 'individual' that is completely distinct from its owners and responsible for its own finances, assets and liabilities.
Types of companies,
Companies Limited by Shares
Companies Limited by Guarantee
Unlimited Companies
- One Person Companies (OPC)
- Private Companies
- Public Companies