| |
SECTION 25 COMPANY |
SOCIETY |
TRUST |
| Objects |
Non-profit activities |
Charitable, Literary, Scientific, etc |
Charitable, Socially beneficial |
| Statute/Law |
Indian Companies Act 1956 |
Societies Registration Act 1860 |
Bombay Public Trusts Act 1950 |
| Alternation of objects |
Complex legal procedure |
Simple procedure |
Normally only Settlor can modify |
| Formation |
Complex procedure, 3-6 mths. |
Simple and easy |
Simple and easy |
| Management |
Formalities of Company law have to be observed. |
Few restrictions imposed under the Act |
Very few restrictions imposed under the Act |
| Meetings |
To be held as per provisions of law which are quite extensive. |
Annual meeting as per law and Rules of the society |
No provisions laid down |
| Penalties |
Various offences and lapses attract severe penalties. |
Few offences and penalties have been prescribed |
Very negligible |
| Legal Status |
Full legal status |
Legal status with certain limitations |
Legal status with limitations |
| Statutory Regulation |
Exhaustive but mature |
Very limited |
Nominal |
| Removal of members |
Not possible without consent |
Possible without consent |
Not applicable |
| Dissolution or takeover by state |
Very difficult |
Possible |
Possible |
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