The Different Types of Company To Incorporate A Business
The companies act 1956 provides a company is to register and formed an current company under this Act. A company is separate and specific from its representatives or a company is not the sum total of its members. A company registration must follow with the rules required under the companies act 1956 is registered.
The company registration is also maintained that one or more shares carried two or more persons in a company is considered together as single members. The existing company has been defined in the companies act 1956 in section (3). The types of company registration is to incorporate a business in Chennai.
The Different Types of Company
- Private Company
- Public Company
The Private Limited Company Registration
- A private company has some restriction to transfer their shares.
- This company must have the word Private Limited.
- The minimum number of a private limited company is two.
- The instance of an private company subscriber having the proper choice on the decision and the member is near by the representative.
- It is not an additional of a public company
The Public Limited Company Registration
- The companies act 1956 of section 3 provides that a company that is not a private company will be a public company.
- There are no restrictions to transfer the shares.
- A public company has the word “Limited “, it has three directors of the public company.
- The instance of a public company subscriber having five members the proper choice on the decision and present in person or by representatives.
- The companies Act 1956 of section 8 provides a public limited company registration is need not share their objects prepared separately.
The Unlimited Company Liable
The companies act 1956 of section 12 provides a company not accepting any limit of the liability of its associates is termed as unlimited company. An unlimited company, the associates are fully liable for all debts of the types of company, It may or may not share their capital.The company to share their investment in the proper registered company in Chennai.