What is Illegal Association?

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Under the Companies Act, 1956, not more than 10 persons can come together for carrying on any banking business and not more than 20 persons can come together for carrying on any other of business, unless the association is registered under the Companies Act or any other Indian law. Any association which does not comply… Read more »

What are the defining characteristics of a company?

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A company as an entity has several distinct features which together make it a unique organization. The following are the defining characteristics of a company :-Separate Legal Entity : On incorporation under law, a company becomes a separate legal entity as compared to its members. The company is different and distinct from its members in… Read more »

What do you mean by the word ‘Company’?

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The word ‘Company’ is an amalgamation of the Latin word ‘Com’ meaning “with or together” and ‘Pains’ meaning “bread”. Originally, it referred to a group of persons who took their meals together. A company is nothing but a group of persons who have come together or who have contributed money for some common person and… Read more »