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
- Holding and Subsidiary Companies
- Associate Companies
- Companies in terms of Access to Capital
- Government Companies
- Foreign Companies
- Charitable Companies
- Dormant Companies
- Nidhi Companies
- Public Financial Institutions