Body corporate

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 June 2013 Whether Trust, Society, Sole proprietorship are covered under definition of Body Corporate under Companies Act, 1956?

Please reply?

Ganeshbabu K

Ganeshbabu K (Expert)

20 June 2013 1)No..all above three are not a body corporate

2)society registered under societies act also not a body corporate.

3)only LLP,company registered as per companies act 1956 is body corporate..

Thanks & regards
Ganesh babu k

Querist : Anonymous

Querist : Anonymous (Querist)

20 June 2013 Thanks for your reply sir

Can u please explain me term Body Corporate?
What it includes?

Ganeshbabu K

Ganeshbabu K (Expert)

20 June 2013 1)in simple words we can under stand as " business entity and persons who formed it are different"

2)or remember
below are body corporates

companies under companies act(pvt ltd,ltd, and, LLP are body corporates

Thanks & regards
Ganesh babu k

Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2013 Section 2(7)of Companies Act, 1956 defines body corporate includes a company incorporated outside India but does not include-
1. a corporation sole;
2. a co-operative society registered under any law relating to co-operative societies;
3. any other body corporate which Central Government may by notification in the Offical Gazette , specify in this behalf.

* Does it mean that societies which are not registered under co- operative society Act falls under deifnition of body corporate?

* What does corporation sole means?

Ganeshbabu K

Ganeshbabu K (Expert)

06 July 2013 No,,registered or not registered co-operative society is not a body corporate

in short only LLP and company under compnaies act is co-operative society

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