Name: Company law
SKU: 5558
Availability: InStock

Company law

In stock

Company Law is the body of legal rules that governs the formation, operation, management, and dissolution of corporations or companies. It establishes the legal framework that defines the rights, duties, and liabilities of all parties involved, including directors, shareholders, creditors, and the company itself. The primary source of company law in India is the Companies Act, which aims to promote good corporate governance, protect investors, and ensure the healthy growth of the corporate sector.

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Corporate Personality and Limited Liability: A company is a separate legal entity distinct from its owners (shareholders). This fundamental principle, established in the case of Salomon v. Salomon & Co. Ltd., means the company can sue, be sued, and own property. It also grants shareholders limited liability, protecting their personal assets from company debts.
Corporate Governance and Directors’ Duties: The law sets out a structure for managing the company, typically through a Board of Directors. Directors have fiduciary duties to act in the company’s best interests, with due care and skill. Company law defines their powers, responsibilities, and potential liabilities to prevent abuse of power.
Shareholder Rights and Protection: The law provides mechanisms to protect shareholders, who are the owners of the company. This includes rights to attend general meetings, vote on major decisions (like mergers), receive dividends, and access key financial information. It also offers protection against oppressive management and unfair practices.

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