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TYPES OF LEGAL ENTITIES RECOGNIZED UNDER LAW IN INDIA

 
COMPETITION LAW
LAW RELATING TO START UPS
FOOD LAWS
INFORMATION TECHNOLOGY LAW
REAL ESTATE LAW
COMPANY FORMATION LAW
 
Benefits of Incorporation
Procedure for Incorporation
Types of Legal Entities
Options Available with Foreign Investors
Compliance For Companies
Conversion of (Section 8) Company
Section 8 Companies
FAQ on Incorporation of a Company
GOODS SERVICE TAX
FDI LAW
TECHNOLOGY TRANSFER & JOINT VENTURE LAW
COMMERCIAL AGREEMENTS & CONTRACTS LAW
LAWS RELATING TO INSURANCE
LABOUR LAW
SPORTS LAW
MEDIA & COMMUNICATION LAW
TELECOMMUNICATION LAW
ECOMMERCE BUSINESS LAW
CORPORATE LAW FIRM
COMMERCIAL LAW FIRM
ENVIRONMENT LAW
GAMBLING LAWS
 
  1. Private Limited Company

    A Private Limited Company is a company whose ownership is private. A private limited company can be formed with a minimum of 2and maximum of 200 members. It cannot issue a prospectus in the open market nor can it make or accept deposits from the public. The shares in a private company are not freely transferable. According to the Companies Act, 2013, an investor can choose between the following types of a Private Limited Company in India;

    • Company Limited by shares

    • Company Limited by Guarantee

    • Unlimited Company

  1. Public Company

    Public Limited Company is a type of company whose securities are traded on a stock exchange. A Public Limited Company can be formed with a minimum of 7 members. There is no restriction on the transferability of shares. A Public Limited Company requires more public disclosures and compliances from the government as well as other authorities like RBI(Reserve Bank of India), SEBI (Securities and Exchange Board of India) etc.

  2. Sole Proprietorship

    The sole proprietorship is the simplest form of business under which one can operate. The sole proprietorship is not a legal entity. The person who is the owner of the business becomes personally liable for the debts of the business. For taxation and legal liability purpose, the owner and the business are one and the same. The proprietorship is not taxed as separate entity.

  3. One Person Company

    The concept of One Person Company has been introduced by Companies Act, 2013 enabling a sole proprietor form of business to enter into the corporate framework. This allows a sole investor to form a company alone with limited liability. One Person Company structure is similar to that of a proprietorship concern without the ills generally faced by the proprietors. One of the most important feature of One Person Company is that the risks mitigated are limited to the extent of the value of shares held by such person in the company.

  4. Partnership

    Section 4 of the Indian Partnership Act, 1932 defines Partnership as the relation between persons who have agreed to share the profits and losses of a business carried on by all or any of them acting for all. Unlike a company, a partnership is not a separate legal entity distinct from its members. It cannot own a property, incur debts or sue any party in its own name. Moreover the partners of a partnership firm shall be personally and severally liable for the liabilities incurred by the firm.

  5. Limited Liability Partnership(LLP)

    Limited Liability Partnership Act, 2008 governs the principles of Limited Liability Partnership in India. It is a combination of a company and a partnership firm. Unlike partnership, the liability of the partners in an LLP is limited and no partner shall be held liable for the acts of the other. It is a separate legal entity, having a distinct entity of its own separate from its members. The main disadvantage of an LLP is that it cannot raise capital from public by issue of an IPO unlike a company.

For more information on Types Of Legal Entities Recognized Under Law In India, please write to us at info@ssrana.com

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