What is a company?

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What is a company?

A company is a voluntary association and autonomous association of certain person with capital divided into numerous transferable shares formed to carry out a particular purpose in common. It is  an artificial person created by law to achieve the object for which it is formed.



Section 2(20) of  companies Act,2013 defines a company as  "Company means a company incorporated under this Act, or under any previous company laws"

A company is a legal entity quite distinct and separated from  the persons who are it's members. A company can buy it's own shares under certain conditions.

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