PRESENTED BY:

Zulfiqar Ahmad
Hassan Maqsood

Company
Kinds of Companies
Registration of Company
Winding up of Company
According to Section 3(1)(i) of the Companies
Act, a company means, A company formed
and registered under the Company Act 1913
or Company Ordinance 1984.

Voluntary Association
Artificial Person
Creation Under Law
Limited Liability
Separate Legal Entity
Perpetual Succession
Transferable Shares
Common Seal


Companies are classified on the basis of

Incorporation
Liability of members
Number of members
Ownership

On the Basis of Incorporation
Chartered Company
A company which is formed by the order of queen and
King is called chartered company
Statutory Company
These companies are those in corporate under special
act passed by the parliament or the state legislature.
Registered Company
Those companies are those formed and registered
under the companies act or companies Ordinance 1984.


On the Basis of Liability
Company limited by Shares
A limited company is one in which the liability of the
members is limited up to the value of the shares
purchased by them.
Companies limited by Guarantee
Company ltd. by guarantee is the company in which the
liability of the members is limited only up to the amount
guaranteed by its members at the time of its winding up.
Unlimited Companies
The company which do not have limit of the liability of its
members

On the Basis of Members
Private Companies
A private company means a company which has
minimum paid up capital of one lack rupees.
Public Companies
A public company is not a private company and
which has minimum paid up capital of five lack
rupees or as prescribed.

Listed Company (Listed in stock exchange)
Unlisted Company ( Not listed in stock exchange)
On the Basis of Ownership

Government Company
The company which is owned by government.
Non Government (Foreign Company)
The companies registered outside the country
and run business within country(Pakistan).



HOW TO REGISTER A NEW
Company in Pakistan.???????

STEPS AND REQUIREMENTS!!!!


Stages in the
formation of
company
Incorporation
stage
Subscription
stage
Commencement
stage
Promotion stage
Idea/discovery of business opportunity/plan of
business
Analysis/investigation/verification of plans
Assembling different factors/resources
Capital/financial resources
Planning for formation of company
Preparation of documents
Payments of expenses/fee
Filing documents

Preliminary Formalities
Obtain the approval of the name of the
company.
Preparation for printing of documents
Obtaining the license, if any
Obtain certificate from securities and
exchange of commission of the country for
capital if required.
To engage under writer, brokers, bankers,
auditors and signatories to memorandum

Submission of Documents

(A) Memorandum of Association

Name of company
Head office address
Object of formation
Liability
Capital
One witness with signature
Sign of 7 persons in public and 2 in Pvt. Ltd
company

(B) Article of Association
It contains rules to achieve the object given in the
memorandum of association. It should be signed by
subscriber to memorandum.
(C) Prospectus
(D) List of Directors
(E) Registered Office
(F) Chillan Form of Fee
(G) Statutory Declaration
(H) Qualification Shares by Directors
Issuance of shares
Issuance of debentures
By issuance of prospectus if no prospectus has
been issued then a statement in lieu of
prospectus has been filed with registrar.
Contract with under writer
Contract with bankers

A public company has to received the certificate
of commencement before starting the business.
A company submits the following documents to
registrar.
Prospectus
Minimum subscription
Directors shares

Winding up of a company is the process where by its
life is ended and its property administered for the
benefit of its creditors and members.

Modes of Winding up:

Winding up by Court i.e., Compulsory Winding Up

Voluntary Winding Up

Winding up subject to Supervision of Court
The winding up of the Company under the order of
Court is called compulsory winding up.

Grounds for the compulsory winding up
Special resolution of the company
Default in holding statutory meeting
Failure to commence business
Reduction of members below minimum
Inability to pay debts
Not follow the rules
Unlawful/Illegal business

Winding up by the members or creditors of a
company without interface by the tribunal.

A company may be wind up voluntary

By passing an ordinary resolution
By passing special resolution

Member voluntary winding up
Member voluntary winding up takes place only when
the company is solvent. Its initiated by the members
and is entirely managed by them.
Creditors voluntary winding up
Where the company proposes to wind up voluntary
and the director are not in a position to make the
statutory declaration of solvency, the winding up is a
creditors voluntary winding up.


The court may appointed an additional liquidator to
supervise the winding up procedure.
Grounds for winding up under supervision of court
Partiality of liquidator
Failure to follow the rules of winding up
Any negligence of liquidator
Winding up resolution is obtained by fraud