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Law doubt???

Avinash (JSW Steels) (80 Points)

28 June 2011

Can any 1 say me the difference between a "Company, Corporation, Body Coprporate"

pls do mention the relevant sections,

and also mention any refence site for such doubts for immediate clarification.

Thanks

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8 Replies

kamal kishor sen (STUDENT Rajasthan) (2156 Points)
Replied 28 June 2011

1). company :- (a) under the companies act, 1956

" Company means, a company formed and registered under the companies act , 1956 or under the previous laws relating to companies [sec3(1)(i)]

(b) General :-
Company is an association where some persons contribute their money in a common stock and employ in the business and share profits or losses arising therefrom.

Common stock - capital of the company.

Persons - Members of the company.

Profit - Dividend

2) Body corporate/corporation [sec.2(7)]

"Body corporate" includes a company incorporated outside India but does not include,

(a) Corporation sole;

(b) co-operative societies;

It is wider than a company. Minimum authorised capital of a body corporate should be Rs.5 crore.

example :- LIC AND GIC

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CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert) (85930 Points)
Replied 28 June 2011

Originally posted by : kamal kishor sen
	1). company :- (a) under the companies act, 1956 " Company means, a company formed and registered under the companies act , 1956 or under the previous laws relating to companies [sec3(1)(i)] (b) General :- Company is an association where some persons contribute their money in a common stock and employ in the business and share profits or losses arising therefrom. Common stock - capital of the company. Persons - Members of the company. Profit - Dividend 2) Body corporate/corporation [sec.2(7)] "Body corporate" includes a company incorporated outside India but does not include, (a) Corporation sole; (b) co-operative societies; (c) Specified by the Central government. It is wider than a company. Minimum authorised capital of a body corporate should be Rs.5 crore. example :- LIC AND GIC

AGREED.

valji (Accounts manager-MBA) (2150 Points)
Replied 28 June 2011

agree with above

Avinash (JSW Steels) (80 Points)
Replied 28 June 2011

and what is a corporation??

Future CA (Student) (58 Points)
Replied 28 June 2011

Corporation is one which is Incorporated by an Act of Parliament

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CA Rajat Jain (CA) (1677 Points)
Replied 28 June 2011

body corporate is wider than comnypany

(Guest)

Originally posted by : kamal kishor sen

1). company :- (a) under the companies act, 1956

" Company means, a company formed and registered under the companies act , 1956 or under the previous laws relating to companies [sec3(1)(i)]

(b) General :-
Company is an association where some persons contribute their money in a common stock and employ in the business and share profits or losses arising therefrom.

Common stock - capital of the company.

Persons - Members of the company.

Profit - Dividend

2) Body corporate/corporation [sec.2(7)]

"Body corporate" includes a company incorporated outside India but does not include,

(a) Corporation sole;

(b) co-operative societies;

(c) Specified by the Central government.

It is wider than a company. Minimum authorised capital of a body corporate should be Rs.5 crore.

example :- LIC AND GIC

perectly said

varikasery (Business) (29 Points)
Replied 07 July 2011

Originally posted by : TusharSSampatM.Com CA,CS-FINAL
	Originally posted by : kamal kishor sen 1). company :- (a) under the companies act, 1956 " Company means, a company formed and registered under the companies act , 1956 or under the previous laws relating to companies [sec3(1)(i)] (b) General :- Company is an association where some persons contribute their money in a common stock and employ in the business and share profits or losses arising therefrom. Common stock - capital of the company. Persons - Members of the company. Profit - Dividend 2) Body corporate/corporation [sec.2(7)] "Body corporate" includes a company incorporated outside India but does not include, (a) Corporation sole; (b) co-operative societies; (c) Specified by the Central government. It is wider than a company. Minimum authorised capital of a body corporate should be Rs.5 crore. example :- LIC AND GIC AGREED.