Different types of companies  The companies can be classified under six basis, on the basis of Formation, on the basis of liability, on the basis of Transferability of shares, on the basis of Ownership, on the basis of Nationality and other companies Classification of companies on the basis of Formation A company can be classified into three types under the basis of Formation. (1) Chartered company  : Those companies which are incorporated under a special charter by the kind of sovereign such as East India Company. Such companies are rarely formed now a day as trading company. (2) Statutory company  :  These companies are formed by a special Act, of the legislatures or parliament, e,g. the Reserve Bank of India, the Industrial Finance Corporation, etc. (3) Registered companies  : Such companies which are incorporated under the companies Act, 2013 or were registered under the previous companies Act. Classification of companies on the basis of Liability Under this...

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.