what is corporation

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Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2010 what is corporation, what are the main diff. between co & corpo.

Shudhanshu Agrawal

Shudhanshu Agrawal (Expert)
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27 August 2010 Do you want to know about Body Corporate defined u/s 2(7) of the Companies Act, 1956??

Ankur Garg

Ankur Garg (Expert)
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27 August 2010 As per India Companies Act, 1956 a company is something which is incorporated under the companies act, 1956. However CL, 1956 is silent about the exact meaning of corporation.

However generally Corporation Set Up A Corporation is a separate legal entity. It is formed by filing corporate organization forms in the state where the corporation is located, and by designating shareholders, each with a specific number of shares. The corporation also creates a Board of Directors to oversee the corporate business.

As per my understanding corporation is a much wider term then a company.

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Regards

Ajay Mishra

Ajay Mishra (Expert)
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27 August 2010 Dear Friend

There is no major difference if you want to incorporate with corporation the minimum capital of 5 crores and there is no need to have such capital for limited company.

Regards
CS Ajay Mishra

Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2010 thank you garg sir

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