Business Studies, asked by anwi3, 9 days ago

3.Explain Chartered Companies and Statutory Companies.

Answers

Answered by maniyachawla12
0

Answer: This may help you

Explanation:

3. Explain Chartered Companies and Statutory Companies.

=> Chartered Company: Chartered companies are the companies which were formed during 17th and 18th century by the Kings and Emperors by passing Special Charter known as "Royal Charter". The rules and regulations for the working and governing of the company are clearly mentioned in 'Royal Charter'. Nowadays chartered companies are not formed and these companies are not found in India. East India Company, Bank of England, etc. are the examples of chartered companies.

Statutory Company: Statutory companies are formed by passing a special act, either by State Legislature or by Parliament. Generally Statutory Companies are formed to run the public utility concerns like Railways, Water works, Gas works, Electricity, etc. The rules and regulations for the working and governing of the company are clearly mentioned in the special act, known as "Statue". Life Insurance Corporation, Air India, Unit Trust of India, The Reserve Bank of India, Export Import Corporation of India, are the examples of statutory companies.

Answered by gopalbhatia463
0

Answer:

Nowadays chartered companies are not formed and these companies are not found in India. East India Company, Bank of England, etc. are the examples of chartered companies. (2) Statutory Company: Statutory companies are formed by passing a special act, either by State Legislature or by Parliament.

Explanation:

An optional association established and organized for running a business is called a company. In other words, any entity engaged in business is a company or a corporation selling goods or services for making money is a company. Legally, a company is a legal entity established by a group of people for performing a business. A company has a separate entity from the people who own, operate and manage its functions.

Types of Companies

Companies can be classified into different types based on different criteria.

Based on Incorporation

Chartered Company

Registered Company

Statutory Company

Based on Liability

Company Limited by Shares

Unlimited Company

Company Limited by Guarantee

Based on the Number of Members

Private Company/ Private Limited Company

Public Company/ Public Limited Company

Based on Domicile

Foreign Company

Local Company

Miscellaneous

Government Company

Subsidiary and Holding Company

One Man Company

Partnership

Co-operative Society

Joint Venture Company

Each of the types is discussed below with examples:

please mark as brainleast answer

Similar questions