Part 1: Introduction of the company:

A company is an association of people formed for the purpose of some business or undertaking, which has a legal personality separate from that of its members. A company may be formed by charter, by special Act of Parliament, or by registration under the Companies Acts.

What are the advantages or benefits of making a Company?

Advantages that you will learn while making a company are as follow: -

✅ Limited Liability

✅ Legal Entity/Status or Recognition

✅ Perpetual Succession

✅ Project Cost & Risk Factors

✅ Easy Transferability

✅ Dual Relationship

✅ Borrowing Capacity

✅ Taxation

✅ Raising Money from Public

What are the disadvantages of making a Company?

Disadvantages that you learn while making a company are as follows: -

✅ Formalities and Expenses

✅ Corporate Disclosure

✅ Separation of Control from Ownership

✅ Greater Social Responsibility

✅ Greater tax burden

✅ Detailed winding-up procedure

Limited Liability of making a Company is?

✅ Company Limited by Shares

✅ Company Limited by Guarantee without share capital

✅ Company Limited by Guarantee having a share capital

✅ Company with Unlimited Liability

What are the characteristics/features of making a Company? 

✅ Incorporated Association

✅ Artificial Person

✅ Separate Legal Entity

✅ Separate Property

✅ Capacity to sue and to be sued

✅ Separate Ownership & Management

✅ Transferability Share

✅ Perpetual Succession

✅ Contractual Rights

✅ Common Seal

Part 2: Difference Between Company and Other Mode of Business

✅ Comparison between Difference Modes of Entities in India
✅ Comparison of Company with Partnership
✅ Comparison of Company with HUF (Hindu Undivided Family)
✅ Comparison of Company with LLP (Limited Liability
✅ Coverage of All Recent Amendments and Their Implications
✅ Practical Working Knowledge with Real Life Issue

Part 3: Lifting or Piercing of Corporative Veil

✅ Concept of LIFTING OR PIERCING OF CORPORATE VEIL.
✅ Info about Separate Legal Entity
✅ Effect of Corporate Veil | Case Law Study
✅ LIFTING OR PIERCING OF CORPORATE VEIL under Various Conditions
✅ Coverage of All Recent Amendments and Their Implications

Part 4: Type of Companies

TYPES OF COMPANIES ARE REGISTERED IN INDIA:

✅ Private Limited Company (Whether Limited by Share or Guaranty amount)
✅ One Person Company (OPC)
✅ Small Company
✅ Public Limited Company (Includes Listed Co. and Unlisted Co.)
✅ Subsidiary and Holding Company
✅ Associate Company
✅ Govt. Company
✅ SECTION-08 Companies (NON-PROFIT ORGANISATIONS)

Part 5: Promotion of a Company

COMPANY FORMATION

The formation of a company is a legal process, which involves a series of steps and legal formalities. The process of formation is divided into the following three stages:

1) Promotion stage Promotion is the process of discovery and investigation of business opportunities, planning and organization of physical, financial, and human resources with a view to forming a company.

2) Registration and incorporation stage is the second stage of the formation of a company. A company comes into existence only after its registration and issue of a certificate of incorporation to it. It usually involves four steps;

✅ Preliminary steps
✅ Application for reg. And delivery of documents
✅ Scrutiny and reg. of documents by the registrar
✅ Issue of certificate of incorporation and CIN

3) Commencement of business stage according to the latest provisions of the Companies Act, every company is entitled to commence its business as soon as it obtains its certificate of incorporation. No other formality is required to comply with it.

Part 6: Incorporation of a Company

PROCEDURE FOR INCORPORATION OF A COMPANY

➢ Application for registration of the Company shall be filed with Registrar of Companies (ROC) within whose jurisdiction the Registered Office has to be situated.

➢ A Private Limited Company can be formed Online through the Ministry of Corporate Affairs (MCA) portal nowadays by submitting necessary documents and by paying online Stamp Duty (which applies as per State to State).

Following forms are filled in the form of “Linked Forms” online through the MCA portal:

❑ SPICE + (Form INC-32)
❑ SPICE M.O.A (Form INC-33)
❑ SPICE A.O.A (Form INC-34)
❑ AGILE-PRO-S (Form INC-35)
❑ COMMENCEMENT OF BUSINESS (Form INC-20A)