‘Company’ is an artificial juridical entity, separate from its members. It has perpetual succession. Under the Companies Act, 2013, “company” means a company incorporated under this Act or under any previous company law.

Types of Company

There are various types of companies like private, public, One Person Company, Section 8, Company, Small company, Nidhi company, Dormant company, Government company and Producer company etc.

The companies may be classified into various classes on the following basis:

1. On the basis of liability
2. On the basis of members
3. On the basis of Control
4. On the basis of access to capital
5. Other Companies

Formation of a Company

A company may be formed for any lawful purpose by having minimum number of persons as under:
(a) seven persons to form a public company; – Section 3(1)(a)
(b) two persons, to form a private company; – Section 3(1)(b) or
(c) one person, to form a One Person Company (OPC) i.e. a private company, – Section 3(1)(c) by subscribing their names or his name to a memorandum and complying with the requirements of this Act in respect of registration.

A company formed as above may be either—
(a) a company limited by shares; or
(b) a company limited by guarantee; or
(c) an unlimited company.

Registration of Company is Simple with Legavel

The process of company registration in India is revamped by MCA, effective from 15th February 2020. Now, registration of the company can be completed within 10-15 business days. Legavel employs qualified company secretaries and chartered accountants, who ensure highest customer satisfaction and timely delivery of service. Entire process is managed online, with regular communication and assistance available throughout. We have clients in all major cities of India including Mumbai, Delhi, Bangalore, Pune, Ahmedabad, Hyderabad and every other city in India. We promise a hassle free experience.