Effect of Non-Registration and Registration of a Partnership Firm
Non‑registration does not invalidate the partnership, but it imposes significant disabilities on enforcing contractual rights in courts; registration cures these disabilities by enabling the firm and partners to sue, claim set‑off, and be formally recognized on the Register of Firms. Section 69 of the Indian Partnership Act, 1932 is the central provision governing these effects…
Read article Definition and Features of a Company: Distinction from Partnership
In modern business law and finance, the company has emerged as the most dominant form of business organization, offering features that distinguish it from traditional structures like partnership firms. To understand why companies are preferred for large-scale operations while partnerships remain important for smaller ventures, it is essential to examine the definition, key features, and…
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Types of Companies: Mode of Incorporation, Liability, Public Interest, Holding and Subsidiary.
Companies in India are classified along multiple dimensions—how they are formed, member liability, public-interest footprint, and control relationships such as holding–subsidiary—each with distinct compliance and governance implications for banking and finance stakeholders. This guide maps these dimensions under the Companies Act, 2013 and related frameworks to aid structuring, risk assessment, and regulatory alignment. Mode of…
Read article Memorandum of Association and Articles of Association: Definitions, Effect, Distinction
The Memorandum of Association (MoA) and Articles of Association (AoA) are the two core constitutional documents of a company: the MoA defines the company’s external scope and objects, while the AoA governs internal rules and management; put simply, the MoA is the company’s charter and the AoA is its rulebook. Definitions Legal effect Contents at…
Read article Doctrines of Ultra Vires, Constructive Notice, and Indoor Management: Definitions and Effects
The doctrines of ultra vires, constructive notice, and indoor management collectively define the boundaries of a company’s powers and an outsider’s rights when dealing with a company; in essence, ultra vires limits corporate capacity, constructive notice protects the company by imputing knowledge of public documents to outsiders, and indoor management protects outsiders by presuming internal…
Membership of a Company: Who is a Member, Modes of Becoming Member, Cessation, Register, Rights and Duties
A company’s “member” is the person recorded in the register of members or as a depository’s beneficial owner; in short, a member is the legal owner on record, which may differ from the beneficial shareholder until registration aligns. Who is a member Modes of becoming member Cessation of membership Register of members Rights of members…
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