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Coporate Law

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Coporate Law
Business Enterprises

1

NATURE, FORM AND TYPES OF BUSINESS
ENTERPRISES
Business Enterprises

(Sole Proprietorship, Partnerships & HUF)

2

Corporate

(Cos. & Co-operatives)

IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha

Non-Corporate

NATURE, FORM AND TYPES OF BUSINESS
ENTERPRISES

IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha

Basic difference between Corporate and NonCorporate form of business organization is that while a non-corporate form of business can be started without Registration, Corporate bodies cannot be set up without registration under the laws which govern their functioning.

3

COMPANY

IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha

First originated in 1600 A.D.
East India Company – established by a Royal
Charter of England.
Modern companies legislation. are

incorporated

through

a

First Legislation – Mid Nineteenth Century in UK.
4

COMPANY

Companies Act, 2013

J

UK

Companies Act, 2006

USA
IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha

J

India

Each State has a separate company law.

5

6

IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha

COMPANIES ACT, 2013

COMPANIES ACT, 2013 - FEATURES

7

IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha

The Companies Act, 2013 is the longest piece of legislation ever passed by our Parliament.

DEFINITION OF COMPANY UNDER COMPANIES
ACT, 2013

IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha

“A company means a company formed and registered under this act or under any other previous law.”

8

COMPANY – ITS MEANING
A Company in broad sense may mean an association of individuals formed for carrying on some business for acquisition of gain.

IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha



However, an association formed not for profit acquires a corporate life and falls within the meaning of a company by reason of a license u/s
25 of the Companies Act, 1956.


9

COMPANY – ITS MEANING

IMT Nagpur- LEB-2013-15-Prof. S.N.
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