COMPANY LAW AND ITS VARIOUS ELEMENT

Law acts as a guideline to what is accepted in society. Hence, it is imperative for various organisations who abide by these guidelines. Indian Company Law was presented by government for the benefit of people. Companies Law is a means of discipline, regulations and guidelines while governing an enterprise. In order to understand Company Law, it is important for us to know about what a company is and what are its various forms. Seeing the need of the hour, our national government created a team, IRANI COMMITTEE, which introduced Companies Bill in 2012 which got approved and is known as Companies Act, 2013 today. Companies Act states the framework of an enterprise or an organisation. The authors try to elucidate on the journey of Indian Company Law by discussing various forms of companies, incorporation of a business and approval and removal of its Board of Directors.