Company Law is an important subject in B.COM, BBA, and other courses. It teaches you how companies are formed, managed, and regulated. Here’s a basic summary of the key topics in Company Law and PDF notes of important questions generally asked in Delhi University, IGNOU and others. Summarized You Tube videos also given in link below:

SUMMARY

Company Law is an important subject in B.Com. It teaches you how companies are formed, managed, and regulated. Here’s a basic summary of the key topics in Company Law.

🔹 1. What is a Company?

Definition: A company is a legal entity formed by a group of people to engage in business. It is registered under the Companies Act.
Features:

• Separate legal entity
• Limited liability
• Perpetual succession
• Common seal
• Can sue and be sued

🔹 2. Types of Companies

• Private Company: Minimum 2 and maximum 200 members. Cannot invite public to buy shares.
• Public Company: Minimum 7 members, no maximum limit. Can raise capital from the public.
• One Person Company (OPC): A company with only one member.
• Government Company: 51% or more shares held by government.
• Section 8 Company: Formed for charitable purposes.

🔹 3. Incorporation of a Company

Steps to form a company:

1. Apply for Digital Signature Certificate (DSC)
2. Apply for Director Identification Number (DIN)
3. Name approval from Registrar of Companies (ROC)
4. Prepare MOA (Memorandum of Association) & AOA (Articles of Association)
5. File Incorporation form (SPICe+)
6. Get Certificate of Incorporation

🔹 4. Memorandum of Association (MOA)

• The charter document of a company
• Defines the scope of operations
• Contains:
  • Name Clause
  • Registered Office Clause
  • Object Clause
  • Liability Clause
  • Capital Clause

🔹 5. Articles of Association (AOA)

• Internal rules of the company
• Deals with day-to-day management
• Can be changed by passing a special resolution

🔹 6. Share Capital

Types:

• Equity Shares
• Preference Shares
• Authorized Capital
• Issued Capital
• Subscribed Capital
• Paid-up Capital

🔹 7. Directors

• Minimum: 2 (Private), 3 (Public)
• Maximum: 15 (more with special resolution)
• Appointed by shareholders
• Must follow duties and responsibilities as per the Companies Act

🔹 8. Company Meetings

• Annual General Meeting (AGM) – once every year
• Extraordinary General Meeting (EGM) – called for urgent matters
• Board Meetings – held by directors for company operations

🔹 9. Winding Up of a Company

Winding up means closing the company and distributing its assets. It can be:

• Voluntary
• Compulsory by a court order
• Tribunal-led

📝 Tips for Exam Preparation

• Focus on definitions and key terms
• Practice writing short notes
• Learn differences (e.g., Private vs Public Company)
• Prepare for case-based questions