T. Kalaiselvan, Advocate (Advocate) 03 August 2024
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Saloni Pande 08 August 2024
The Companies Act, 2013and the rules that lays down that every company incorporated in this Act has to maintain Statutory Register. A company has its existences under Special Act of Parliament or to company law. In legal sense, a company is both natural and artificial person and is existing under the current law of country. . In terms of the Companies Act, 2013 (Act No. 18 of 2013) a “company” means a company incorporated under this Act or under any previous company law [Section 2(20)]. ‘incorporation’ is the act of forming a legal corporation as a juristic person. A juristic person is in law also conferred with rights and obligations and is dealt in accordance with law.
In other words a the company enacts as a natural person ,but only through a designated person[Shiromani Gurdwara Prabandhak Committee v. Shri Sam Nath Dass AIR 2000 SCW 139]. The company incorporated under this law are required to frame policies/plan and devide codes/maintain system. However, companies whose shares are listed on Stock Exchanges in India are additionally required to frame some other policies/ code as well, after filing an application electronically through e-form, a company can be incorporated once company gets incorporated, CIN is allotted by the Registrar to the company.
Public corporations like Life Insurance Corporation of India, SBI etc., have been brought into existence through special Acts of Parliament, whereas companies like Tata Steel Ltd., Reliance Industries Limited have been formed under the Company law i.e. Companies Act, 1956 which is replaced by the Companies Act, 2013. / Board of Directors and Senior Management Personnel/ Directors and Employees etc. A company may not be so formed for an unlawful purpose Corporate Name (Section 4.01) (a) A corporate name: (1) must contain the word “corporation”, “incorporated”, “company”, or “limited”, or the abbreviation “corp.”, “inc.”, “co.”, or “ltd.”, or words or abbreviations of like import in another language On registering an incorporation form and a copy of the articles delivered under section 67(1)(b), the Registrar must issue a certificate of incorporation certifying that the company— (a) is incorporated under this Ordinance; and (b) is a limited company or an unlimited company. On and after the date of incorporation, the body corporate is capable of exercising all the functions of an incorporated company, and has perpetual succession.