The Companies Act, 2013
CHAPTER II: INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO
Section 3: Formation Of Company
Bare Act
(1) A company may be formed for any lawful purpose by -
- (a) seven or more persons, where the company to be formed is to be a public company;
- (b) two or more persons, where the company to be formed is to be a private company; or
- (c) one person, whe… Read the complete text with KanoonGPT Pro.
Simplified Act
(1) You can start a company if you have a legal reason to do so:
- (a) If you want to start a public company, you need at least seven people;
- (b) If you want to start a private company, you need at least two people;
- (c) If you want to… Read the complete text with KanoonGPT Pro.
Explanation using examples
Imagine that Sarah and John want to start a software development business. They plan to keep the company privately held and intend to involve only themselves a… Read the complete text with KanoonGPT Pro.
