Corporate and Incorporation

Corporate and Incorporation

Indian company law regulates the corporations formed under the Section 2(20) Indian Companies Act 2013. "Company means a company incorporated under this Act or under any previous Company Law"

Companies can be incorporated through the rules of the Indian Companies Act 2013. Whereby the new SPICe form helps the companies to get incorporated in one day. However, one-day company registration in India is not possible as there required certain documents, preparation of which takes time.

Classification of the Companies on the basis of Incorporation

(i) Companies incorporated under Royal Charter This was practiced by the British Government. For example, East India Company came under Royal Charter, which means it was granted Charter by the King or the Queen of British and was controlled by the Charter. However, this is not much in practice now.

(ii) Companies that are incorporated by the special Act of Parliament These Companies are incorporated under specified act of Parliament or State Legislature . These companies are formed with the fulfillment of some specified objects at the National level. These Companies are also called as Corporations. For example, Reserve Bank of India or State Bank of India.

(iii) Companies incorporated under Indian Companies Act of 1956 These companies come under the memorandum of association and articles of association.

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