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Classification of Companies:
Section 389 of the Companies Act provides that "no company there association or may partnership consisting of more than twenty persons shall be formed... unless it is registered as a company under this Act so there it t is formed in pursuance of some other Act, Act of the United Kingdom or of letters patent".
Three types of company are provided for under this section as like are:
(a) Chartered companies.
(b) Statutory companies.
(c) Registered companies.
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Issuing shares at a discount: In Ooregum Gold Mining Co of India Ltd v Roper (45) the House of Lords held that it is illegal for a limited company to issue its shares at a dis
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Redemption of Shares: Section 60 (1) empowers a company limited by shares to issue preference shares that are, or may be at the option of the company are to be liable, to be r
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