Kinds of companies:
1.classification on the basis of incorporation:
1.statutory companies:
These are the companies which are created by a special act of logistracture,eg-state bank of india, reserve bank of india, life insurance corporations of india.
2.registered companies:
These are the companies which are formed and registered under the companies act or were registered under any or the earlier companies acts. These are by far the most commonly found companies.
2.classification on the basis of liability:
1.companies with limited liability. These may be-
a)companies limited by shares, or
b)companies limited by gurantee, or
2.companies with unlimited liability.
1.classification on the basis of incorporation:
1.statutory companies:
These are the companies which are created by a special act of logistracture,eg-state bank of india, reserve bank of india, life insurance corporations of india.
2.registered companies:
These are the companies which are formed and registered under the companies act or were registered under any or the earlier companies acts. These are by far the most commonly found companies.
2.classification on the basis of liability:
1.companies with limited liability. These may be-
a)companies limited by shares, or
b)companies limited by gurantee, or
2.companies with unlimited liability.
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