Kinds of Companies

Kinds of Companies :

On the Basis of Incorporation :

Chartered Companies :

Companies set up as a result of a royal charter greanted by a king or queen of a country are known as known as charted companies.

Example: East India Company, the Bank of England etc. These companies are nonexistent since independence .

Statutory Companies:

Companies set up by Special Acts of Parliament or State Legislatures are called Statutory Companies. Example: Reservice Bank of India, Life Insurance Corporation of India, Unit Trust of India etc .

Registered Companies :

Companies registered under the India Companies Act, 1956 or under any of the previous Companies Acts are called registered companies. Most of the companies in India belong to this cate

Licenced Companies :

Companies established for the promotion of Arts, Science, Religions, Charty or any other similar bojects can obtain licence under Sec. 25 from the Central Government and enjoy certain privileges.

Foreign Companies :

A company incorporated outside India under the law of the country of incorporation but having established its business in India is called a foreign company.