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Question
Match the correct pairs.
| Group “A” | Group “B” | ||
| a) | Private company | 1) | Compulsory |
| b) | Public company | 2) | Minimum 7 members |
| c) | Common Seal | 3) | Maximum 50 members |
| d) | Registration of a company | 4) | 61% share capital |
| e) | Government company | 5) | 51% share capital |
| 6) | Symbol of a company | ||
| 7) | Optional | ||
| 8) | Simple formation | ||
| 9) | Easy dissolution | ||
| 10) | Hindu succession Act 1956 |
Solution
| Group A | Group B | ||
| a) | Private company | 3) | Maximum 50 members |
| b) | Public company | 2) | Minimum 7 members |
| c) | Common Seal | 6) | Symbol of a company |
| d) | Registration of a company | 1) | Compulsory |
| e) | Government company | 5) | 51% share capital |
Explanation:
a. A private company can have minimum 2 members and maximum 50 members. Hence, as per the definition of a private
company, any company with less than two members will be regarded as a sole proprietorship firm. On the other hand, if the
number of members exceeds 50, it will be regarded as a public company.
b. A public company can have a minimum of seven members, but there is no limit on the maximum number of members.
c. A company is an artificial person; therefore, it cannot sign its documents. However, to validate the documents, the directors
of the company use a common seal on behalf of the company. Hence, the common seal is regarded as the symbol of the
company.
d. According to the Indian Companies Act 1956, every company has to be registered with the Registrar of Companies.
e. In a government company, minimum 51% of share capital is owned by the government and the rest 49% can be owned by
the private players of the market. Therefore, the decision-making power rests with the government.
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