Classification of Company

TANMOY MUKHERJI INSTITUTE OF JURIDICAL SCIENCE

Dr. Tanmoy Mukherji

Advocate

 

Classification of Company-

Tanmoy Mukherji

Advocate

A company is an artificial legal person created by law, having a separate legal entity, perpetual succession, and limited liability, as recognized in the landmark case Salomon v. Salomon & Co. Ltd.

The Companies Act, 2013, classifies companies on several bases.

1. Classification on the basis of Mode of Incorporation-

i) Chartered Company-

These types of companies do not exist in India today.

ii) Statutory Company-

iii) Registered Companies-

2. Classification Based on Liability-

i) Company Limited by Shares-

ii) Company limited by Guarantee –

iii) Unlimited Company –

3. Classification based on no. of members-

i) One Person Company-

ii) Private Company –

iii) Public Company –

4) Classification based on Control -

i) Holding Company –

ii) Subsidiary Company –

iii) Associate Company –

5) Classification based on Ownership-

i) Government Company

ii) Non-Govt. Company-

6. Other Important Companies Under the Companies Act, 2013-

i) Foreign Company-

ii) Charitable Company-

iii. Dormant Company-