Company Law

Companies are governed in India by companies act, 1956. Every company is required to register themselves with the Registrar of Companies (ROC) and file the necessary documents for various statutory requirements.

Types of companies: Normally companies are limited by liability and the shareholders are liable upto the unpaid value of their shares. Indian companies are mainly two types:

Private Limited Company - maximum numbers of members are 50 and prohibits any invitation to the public to subscribe any shares or debenture, restrict the right to transfer its shares.

Public Limited Company- Invite public to subscribe shares or debentures and any number of members or other than private limited companies.