Let’s talk about a company, what do you think when you heard the word company, companionship, or maybe fellowship, maybe you are right, but if we talk about the company as a commercial business the word Company is altogether having a different meaning. Also, there are different type of companies in India.
The word Company becomes a Separate Legal Entity, in other words it becomes a non living person. Company can be defined as “Company means a Legal Entity which was formed or incorporated under Companies Act 2013 or under any previous company law.” There are several types of companies in India.
If we come up to type of companies in India, it can be differentiated majorly into the following type of companies in India:-
After knowing types of companies, you’ll must be thinking about how many persons are required to formed a company?. If yes, than here the answer;
To understand the requirements of the persons to formed a Company, we have to go through a section named section 3(2) of the Companies Act 2013, which can be read as, two or more persons are required to form a Private Company, and if talk about public limited company we’ll gonna required seven or more persons, but if we talk about One person Company, as the name suggest only a one person is required to form a Company.
Now we can again classify them on different parameters, such as based on Incorporation, Liability and Forms of Companies. Let’s talk about in little detail;
Companies can be formed or incorporated in two ways, such as;
If we talk about Liability, there are three types of Companies; such as;
If we talk about forms of companies, there can be different types of companies, such a
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