Explain the salient features of Indian
companies Act 1956.
Answers
Answered by
1
Answer:
Search Results
Featured snippet from the web
Image result for Explain the salient features of Indian companies Act 1956.
The Companies Act 1956 requires minimum two shareholders and two directors in case of a private company. ... Such other class or classes of public companies as may be prescribed by the Central Government shall also be required to appoint independent directors.
Explanation:
Answered by
1
The salient features of the companies act 1956 entails that a company needs to be registered formally with the government with documents that act as proof.
Explanation:
- The Indian Companies Act 1956 was provided by the government in the year 1956 which determined the establishment of companies through the act of registration. It provides important information in regards to its working and also closing of the company.
- The company act 1956 provides for the document which is referred to as "Memorandum of Association" which determines the roles and responsibilities of the people associated with the company. It provides a system of legality to the entire procedure.
- The company can expand further and form other companies with the help of the legal documents. The company is single entity with its own identity and rights unless it is winded up or closed due to any reason. It consists of number of shareholders and there are other directors and mangers who are responsible of running the company.
To know more about Indian companies Act 1956.
Explain the salient features of Hindu succession act 1956
https://brainly.in/question/10385262
Similar questions