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Types of Companies - Coggle Diagram

- - - - A company, which has a minimum paid-up share capital as may be prescribed and which by its articles provides
      - Privileges of a Private Limited Company
        
        Financial assistance can be given to its employees for purchase of or subscribing to its own shares or shares in its holding company
        
        Need not prepare a report on the AGM.
        
        Need not prepare a statement indicating the manner in which formal annual evaluation has been made by the Board of its own performance
        
        Need not appoint Independent directors on its Board
        
        A proportion of directors need not retire every year
        
        Additional grounds for disqualification for appointment as a director
        
        Restrictive provisions regarding total no. of directorships
        
        Additional grounds for vacation of office of a director may be provided in the AOA
        
        The provisions relating to contract of employment with MD or WTD does not apply
        
        Total managerial remuneration payable by a private company, to its directors, including
    - -  only one person as a member.
      -  It is basically a private company with some unique features.
      -  The words ―one person company‖ or ―OPC‖ shall be mentioned in brackets below the name of
      - such company, wherever its name is printed, affixed or engraved.
      -  Only a natural person who is an Indian citizen and resident in India shall be eligible to
      - Resident in India” A person who has stayed in India for a period of not less than 182days
      - during the immediately preceding one calendar year Financial Year. (27/07/18)
      - PRIVILEGES TO AN OPC
        
        i. Mainly it is a private Company.
        
        ii. No need to hold Annual General Meeting (AGM)
        
        iii. Information to be provided in the directors‟ report has been significantly reduced
        
        iv. In the case of OPC annual return shall be signed by CS and in case of his absence it will be
        signed by director of the company
        
        v. The requirement of a minimum number of Board meetings to be convened shall not apply
      - Conversion of OPC into Public or Pvt co.
        
        a) Paid up share capital of an OPC exceeds Rs. 50 Lakh
        
        b) Avg. annual Turnover of an OPC during the immediately preceding 3 consecutive FY exceeds Rs. 2 Cr.
    - - a) OBJECT
        
        Its objects the promotion of commerce, art, science, sports, education, research, social welfare
      - b) APPLICATION OF PROFITS
        
        It intends to apply its profits, if any, or other income in promoting its objects
      - c) PROHIBITION ON PAYMENT OF DIVIDEND
        
        It intends to prohibit the payment of any dividend to its members
  - - - i. Is not a private Company and (w.e.f 3/1/18)
      - ii. Has a minimum paid up capital as may be prescribed
      - A Public co. must have minimum 7 members and minimum 3 directors
  - - - The AOA shall be altered to delete the 3 matters as given 2(68).
      - If the number if members are below 7, step should be taken to increase it to a minimum of 7
      - If the number of directors is less than 3, it should appoint more directors to make it 3 at least
      - Within 30 days from the date of alteration the co. shall file the following to ROC
        
        a) Copy of SR along with Explanatory statement in form MGT 14
        
        b) copy of altered MOA & AOA.
        
        c) Application in INC 27 to ROC for conversion from Pvt. To Public
      - ROC will issue a fresh certificate of incorporation
      - Then change the name shall be noted in MOA, AOA, letterheads, bills, invoices, seals
- - - - ―Listed company‖ means a company has any of its securities listed on any recognised stock exchange
- - - - CG, OR
      - Any SG, OR
      - Partly by CG and partly by one or more SG.
- - - - (i) Controls the composition of the Board of Directors
      - (ii) Exercises or controls more than one-half of [Total Voting Power] the total share capital either at its own or together with one or more of its subsidiary companies
- - - - Certified copy of charter, statute or memorandum and articles.
      - Full address.
      - List of the Directors and Secretary of the Company.
      - Other prescribed particulars