CORPORATE & COMPANY LAW
We at Bhatt & Joshi Associates, provide Corporate & Company Law related advice and litigation support to Indian and overseas companies on doing business in India. We not only provide advisory support for cross-border transactions, FDI, strategy for setting up business in India, ecb- external commercial borrowings and regulatory compliances, we also give legal advice on commercial contracts and represent our clients at NCLT, DRT, High Court and Supreme Court.
Our Corporate & Company Law advisors provide the advisory services to the management of companies of all sizes on regulatory governance, conduct of annual general meetings, corporate compliance, CSR, Sexual Harassment Internal Committeee, committee for investor protection, transparency disclosures etc. Our Corporate & Company Law advisors provide sessions for directors both foreign and resident, on rights and liabilities of directors and secretarial compliances pursuant to the Companies Act and LLP Act.
It must be noted that while Company Law and Corporate law are different they are largely interconnected, in as far as they are intertwined to a corporate entity’s functioning. Company Law is related only to the Companies Act, 2013 and Its Rules, Notification & Circulars issued by Government. So it is important that we provide Corporate & Company Law related advice in its largest spectrum. It contains all the acts which applies to the Corporate. Such as SEBI, FEMA, SARFESI, SCRA, Indian Contract, Sale of Goods etc. This diverse interconnected areas of law requires litigation experts at NCLT, High Court, DRT, ITAT, GSTAT etc; and as a full service law firm we aim to provide multidimensional advisory and litigation support services to our clients.
Since the era of liberalization began in 1991, changes have taken place in the multiple sectors of Indian economy, like manufacturing, coal, gas, telecommunication, Information and Technology, Transportation, Tourism, infrastructure and along with that there are changes in the method of business, banking and finance and international trade. With the advent of Liberalisation, Privatization and Globalization of the Indian economy, the process of changing the terms of trade between urban and rural, labour and industry, finance and commerce. In tune with the demands of modern methods of commerce and trading two legislations were passed, LLP Act, 2008 and the substantially amended Companies Act, 2013 was passed by the Indian Parliament, which is the company law in India. In India, a company is incorporated under the provisions of Indian Companies Act, 2013. LLP is a corporate business entity that enables to operate the partnerships in a flexible, innovative and efficient manner with limited liability;
The the nature and advantages of a company, its corporate identity can best be understood by looking at the following characteristic features of the company law or business law in India:
- Independent corporate existence
- Limited liability
- Perpetual succession
- Transferable shares
- Separate property
- Capacity for suits
- Separate Management
- Access to money market
- Common Seal
- One Share-One Vote
Types of Companies under Companies Act, 2013
The Company Act defines different kinds of companies that can be incorporated under this Act. They are:
- Unlimited company – An Unlimited company is a company having unlimited liability of its shareholders, who are all personally liable for the debts of the company in the event of insolvency or bankruptcy
- Guarantee company – In a Guarantee Company the liability of the members of a company is limited either by shares or by guarantee. To put it differently, the members agree to contribute a fixed sum of money for the assets of the company.
- Private company – A private company as defined by the Act, as a company whose AOA mentions a minimum capital of one lakh rupees or more, and it has certain rights over its members.
- Foreign company – A company which has incorporated outside India is known as foreign company.
- Government company – When 51% or more shares are held by the government, it is called a Government Company.