Companies are divided into many types. Some of them are as follows:-
- Statutory Companies
A statutory company is a company which is created by a special Act or provision of Parliament or State Legislature. The main intention of creating these types of companies is to provide public services. Some of the examples of statutory companies are Reserve Bank of India, Life Insurance Corporation of India, etc.
- Registered Companies
A registered company is a company which is registered under the Companies Act, 2013 or under any other previous Company Law. A registered company comes into existence only after it gets registered under the Companies Act and gets a Certificate of Incorporation granted by the Registrar.
- Companies Limited by Shares
A company limited by shares is a company in which the liability of the members is limited to the amount unpaid on the shares held by them. When the shares are fully paid up then no liability arises.
- Companies Limited by Guarantee
A company limited by guarantee is a company in which the liability of the members is limited to such an amount which the members undertake to contribute to the company in the event of its being wound-up.
- Unlimited Liability Companies
An unlimited liability company is a company in which the liabilities of the members are not limited. Such company generally does not have share capital. They may either be a public company or a private company.
- Public Company
A public company as defined under Section 2 (71) of the Companies Act, 2013 is a company which is not a private company. The minimum number of members which are required to form a public company is 7. It is mandatory for a public company to add the words “Limited” at the end of its name.
- Private Company
A private company is a company which by its articles restricts the rights to transfer its shares and limits the number of its members to 200.
- One Person Company (OPC)
The concept of One Person Company has been introduced by the amendments made in the Companies Act in 2013. A one person company is a company which has only one person as its member.
- Foreign Company
A foreign company is a company which is incorporated outside of India but has a place of business in India which is run by themselves or through their agents and conducts any business activity in India in any manner.
- Indian Company
An Indian company is any company which is formed and registered in India.
- Section 8 Company
A Section 8 company is a company which has as its object the promotion of commerce, art, sports, research, education, science, religion, charity, social welfare, protection of environment or other such object. Section 8 companies apply its profits in promotion of its objects. These companies prohibit the payment of dividends to its members.
- Government Companies
A government company is a company in which 51% of the paid-up share capital or more is held by Central Government or the State Government or partly by the Central Government and partly by the State Government.
- Small Company
A small company is a company in which the paid-up capital is not more than 50 lakh rupees or such higher amount which may be prescribed, but does not exceeds 10 crore rupees. In addition to the paid-up capital, the turnover of the small company also does not exceeds 2 crore rupees or such higher amount which may be prescribed, but does not exceed 100 crore rupees.
- Subsidiary Company
A subsidiary company is a company in which the holding company controls the composition of the Board of Directors and also controls more than one-half of the total voting power of the subsidiary company.
- Holding company
A holding company is a company of which such companies are subsidiary companies.
I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.
If you are interested in participating in the same, do let me know.
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