On the basis of formation, the following are the type of companies:
1. Incorporated by Royal Charter –
This type of company is incorporated under a royal charter issued by the king or head of the state. East India company is its example.
2. Statutory Company –
These companies are formed under a special Act of Parliament or a state legislature to work in the national interest.
3. Registered Companies –
These are the companies formed and registered under the ‘Provisions of Companies Act 2013’, as well as Companies Act prevalent before.
