Project on Company Formation

17295 Words Sep 16th, 2012 70 Pages
project
COMPANY FORMATION

Welingkar Institute of Management

Development & Research.

Year of submission: - April, 2011.

Acknowledgement

Certificate from the guide
Table of contents

❖ TITLE PAGE ❖ CERTIFICATE FROM THE GUIDE ❖ ACKNOWLEDGEMENT

A. INTRODUCTION B. BACKGROUND C. METHODOLOGY D. CONCLUSION E. RECOMMENDATION F. LIMITATION G. BIBLOGRAPHY Introduction:-
A company is an association of both natural & artificial persons incorporated under the existing law of a country. Company is a voluntary association of persons formed for the purpose of doing business having a distinct name and limited liability. It is a juristic person having a separate legal entity distinct from the
…show more content…
Company is liable for a criminal offence

A company can be held liable for criminal intention. A company can be held liable for an offence of conspiracy to defraud. If act was criminal act of an officer, to make company liable it must be proved as a matter of fact that officer was acting within limits of his authority on behalf of company.

Company can be a trustee

A company can act as a trustee if permitted by its objects clause.

Company cannot be a receiver

Body corporate is not qualified for appointment as receiver of property of a company formed and registered under Companies Act.

Major constituents of a company

The major constituents of a company are its members, who are the ultimate owners, and its directors. It is an important feature of the company form of business, that there is a gap between the ownership and control over the affairs of the company. In real sense the members are the owners of a company, but it is being managed by the directors who are elected representatives of its members, because it is absolutely necessary for it to have a human agency called as the company's Board of directors. The Board of directors comprises the directors.

Lifting of the Corporate Veil

The basic principle, that the company is a distinct legal entity from its members, is regarded as a curtain or a veil between the company

More about Project on Company Formation

Open Document