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Questions and Answers
What is the minimum number of members required for a private company?
Which type of company has a maximum limit of 200 members?
What defines a holding company?
In terms of liability, what is the characteristic of a limited liability company?
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In a one person company, what happens to the company upon the death of its owner?
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How many minimum members must a company have to qualify as a private company?
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What might characterize a subsidiary company?
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What can be the legal status of a dormant company?
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Study Notes
Company Law Questions
- Statutory Companies are registered under the Companies Act.
- A Subsidiary Company holds more than half of the total share capital of another company.
- A Private Company must have a minimum of 7 members.
- A Public Company can have a maximum of 200 members.
Company Terms
- A Dormant Company is a company that is registered but does not carry on any active business.
- A Holding Company is a company that controls other companies.
- A Company Limited by Guarantee is a company where the liability of the members is limited to the amount they have agreed to contribute if the company winds up.
- An Associate Company is a company that is related to another company in a specified way.
- Perpetual Succession is the concept that a company continues to exist even if its members change.
- A Government Company is a company that is owned or controlled by the government.
- A Listed Company is a company whose shares are traded on a stock exchange.
- A Foreign Company is a company incorporated outside of the country in which it is operating.
- Limited Liability means that the liability of the members of a company is limited to the amount they have invested in the company.
- A One Person Company is a company that has only one member.
Case Studies
-
Super Drinks Pvt. Ltd.
- The maximum number of members for the company is unclear.
- It is unclear if the company can invite the general public to buy shares.
- It is unclear if shareholders can sell shares to outsiders.
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Kali VFX Ltd.
- The minimum number of members in this company is 2.
- It is unclear if the company can sell its shares to outsiders.
- The maximum number of members is unclear.
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Sunset Printers Pvt. Ltd.
- It is a One Person Company.
- The liability of Mr. Manoj is limited.
- It is unclear if the company will close down on the death, insanity or insolvency of Mr. Manoj.
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TIPS Paints Ltd.
- It is unclear if Mr. John will have to pay the company any further money.
Important Notes
- Many questions require more context and complete information to answer definitively.
- Several questions ask if something is possible, but the text does not definitively state what the rules are.
- The specific company law or Acts being referenced are not clearly defined.
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Description
Test your knowledge of company law with this quiz focused on various types of companies and their definitions. From statutory companies to holding companies, challenge yourself with essential concepts in corporate structure. Perfect for students and professionals alike!
