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Corporate Veil | CA Foundation | CA Anushree Bansal | LearnCab

In this video CA Anushree Bansal (Paper 2 - Business Laws and Business Correspondence and Reporting), talks about corporate Veil and separate legal entity concept In this chapter Types of companies that can be formed under the Companies Act 2013 - (hereinafter referred to as act has remained the same as in the Companies Act, 1956 act except for one more class of has been added. The new class of company is a "'one-person company" (OPC). This section deals with some of the significant changes with respect to the types of companies. 1) A private company" is defined in section 2(68) of the act and it means a company having a minimum paid-up share capital* as may be prescribed, and which by its articles, — 1. Restricts the right to transfer its shares. 2. Except in the case of one Person Company, limits the number of its members to two hundred: 2) A public company is defined in section 2(71) of the act and it means a company which - 1. is not a private company; and 2. has a minimum paid-up share capital* as may be prescribed 3). "one-person company" is defined in section 2(62) of the act it means a company which has only one person as a member, 4) A government company" is defined in section 2(45) of the act and it means any company in which not less than fifty-one percent of the paid-up share capital is held by the central government, or. By any state government or governments, or partly by the central government and partly by one or more state governments and includes a company which is a subsidiary of such a government company as thus defined. For more videos and notes sign up: https://portal.learncab.com/register Follow Us On: Facebook:   / learncab   Twitter:   / tweetlearncab   Instagram:   / learncab   LinkedIn:   / learncab   #CorporateVeil #ICAI #CAFoundation