Clarify Th Different Kind of JOINT STOCK COMPANY
Followings are the vital sorts of Joint Stock Company:
1.Chartered Company.
2.Statutory Company.
3.Registered Company.
1.CHARTERED COMPANY:
An organization which is made by the Royal request is called contracted organization. Its forces, Rights and Functions are Governed by the contract. In the present age this kind of organization is not preferred by the general population. Presently every one of the organizations are enlisted.
Example:East India Company, Chartered Bank of England, Reserve Bank of India.
2.STATUTORY COMPANY:
An organization which is framed bye the request of Governor General, President of Prime Minister ob by the Special demonstration of parliament is called statutory organization. These organizations are sorted out for the object of social welfare business. Government gives full insurance to these organizations. These organizations have a restraining infrastructure in their business. The offer holders have a restricted risk.
Illustrations: State Bank of Pakistan, National Bank of Pakistan.
3. Enlisted COMPANY:
Those organizations which are framed under the organization's statute 1984 are called enlisted organizations. Enrolled organization has separate element from its individuals.
Samples: Colony Textile Mills Limited, Adam Jec Industries Limited.
Enrolled Company has taking after sorts:
i.Unlimited Company.
ii.Company Limited by Shares.
iii.Company Limited by surety.
I.UNLIMITED COMPANY:
The shareholders of the boundless organization are subject to pay the obligations and different commitments of the business. So the risk of the individuals is boundless.
Samples: Karachi Stock Exchange.
II.COMPANY LIMITED BY SHARES:
In this organization the obligation of every part is boundless to the measure of the shares which he holds. It has two sorts.
a.Private restricted organization.
b.Public restricted organization.
A. PRIVATE LIMITED COMPANY:
It can be framed at any rate by two persons however add up to participation can not surpass than fifty. Neither it can issue the shares nor would it be able to exchange the shares. Organization likewise utilizes the word restricted with its name.
Obligation of the offer holders is additionally restricted.
Example:Azhar Corporation Private Limited.
B. Open LIMITED COMPANY:
No less than seven individuals can shape the general population restricted organization however there is no restriction to the most extreme part. Organization can offer the shares to the general population. The shares can without much of a stretch exchange. It can issue the debenture to acquire the capital.
Sample: Chenab Textile Public Limited.
III. Organization LIMITED BY GUARANTEE:
In this organization every part gives an insurance to contribute a predefined sum on its twisting up. So risk of the shareholders is constrained to that ensure which they have given. These sorts of organizations are for the most part framed for Clubs to advance social welfare exercises.
Example:Faisalabad Chamber of Commerce.
4. Different COMPANIES:
I. Affiliation NOT FOR PROFIT:
This sort of affiliation appreciates every one of the advantages of a restricted organization without utilizing the word Limited.
These are framed for the advancement of trade and religion and so forth.
Case: Sahara Life Trust.
II. HOLDING COMPANY:
An organization controlling fractional or complete enthusiasm for another organization. On the other hand an organization which holds more than half of shares other organization.
Illustration: Nestle Pakistan.
III.SUBSIDIARY COMPANY:
An organization having more than half of its stock possessed by another organization.
Samples: Polka by Walls.
IV. GOVERNMENT COMPANY:
The organizations Act characterizes a Government Company as "any organization in which at the very least 51% of the offer capital is held by the Central Government or by any state Government or mostly by one or more state Governments and incorporates an organization which a backup of a Government Company as in this manner characterized".
Samples: WAPDA and Pakistan Railway.
Followings are the vital sorts of Joint Stock Company:
1.Chartered Company.
2.Statutory Company.
3.Registered Company.
1.CHARTERED COMPANY:
An organization which is made by the Royal request is called contracted organization. Its forces, Rights and Functions are Governed by the contract. In the present age this kind of organization is not preferred by the general population. Presently every one of the organizations are enlisted.
Example:East India Company, Chartered Bank of England, Reserve Bank of India.
2.STATUTORY COMPANY:
An organization which is framed bye the request of Governor General, President of Prime Minister ob by the Special demonstration of parliament is called statutory organization. These organizations are sorted out for the object of social welfare business. Government gives full insurance to these organizations. These organizations have a restraining infrastructure in their business. The offer holders have a restricted risk.
Illustrations: State Bank of Pakistan, National Bank of Pakistan.
3. Enlisted COMPANY:
Those organizations which are framed under the organization's statute 1984 are called enlisted organizations. Enrolled organization has separate element from its individuals.
Samples: Colony Textile Mills Limited, Adam Jec Industries Limited.
Enrolled Company has taking after sorts:
i.Unlimited Company.
ii.Company Limited by Shares.
iii.Company Limited by surety.
I.UNLIMITED COMPANY:
The shareholders of the boundless organization are subject to pay the obligations and different commitments of the business. So the risk of the individuals is boundless.
Samples: Karachi Stock Exchange.
II.COMPANY LIMITED BY SHARES:
In this organization the obligation of every part is boundless to the measure of the shares which he holds. It has two sorts.
a.Private restricted organization.
b.Public restricted organization.
A. PRIVATE LIMITED COMPANY:
It can be framed at any rate by two persons however add up to participation can not surpass than fifty. Neither it can issue the shares nor would it be able to exchange the shares. Organization likewise utilizes the word restricted with its name.
Obligation of the offer holders is additionally restricted.
Example:Azhar Corporation Private Limited.
B. Open LIMITED COMPANY:
No less than seven individuals can shape the general population restricted organization however there is no restriction to the most extreme part. Organization can offer the shares to the general population. The shares can without much of a stretch exchange. It can issue the debenture to acquire the capital.
Sample: Chenab Textile Public Limited.
III. Organization LIMITED BY GUARANTEE:
In this organization every part gives an insurance to contribute a predefined sum on its twisting up. So risk of the shareholders is constrained to that ensure which they have given. These sorts of organizations are for the most part framed for Clubs to advance social welfare exercises.
Example:Faisalabad Chamber of Commerce.
4. Different COMPANIES:
I. Affiliation NOT FOR PROFIT:
This sort of affiliation appreciates every one of the advantages of a restricted organization without utilizing the word Limited.
These are framed for the advancement of trade and religion and so forth.
Case: Sahara Life Trust.
II. HOLDING COMPANY:
An organization controlling fractional or complete enthusiasm for another organization. On the other hand an organization which holds more than half of shares other organization.
Illustration: Nestle Pakistan.
III.SUBSIDIARY COMPANY:
An organization having more than half of its stock possessed by another organization.
Samples: Polka by Walls.
IV. GOVERNMENT COMPANY:
The organizations Act characterizes a Government Company as "any organization in which at the very least 51% of the offer capital is held by the Central Government or by any state Government or mostly by one or more state Governments and incorporates an organization which a backup of a Government Company as in this manner characterized".
Samples: WAPDA and Pakistan Railway.
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