Business Organizations and Corporate Governance

Separate legal identity is actually an ADVANTAGE of incorporation, not a disadvantage. A company's separate existence allows it to own property, sue and be sued in its own name, and continue regardless of member changes. The other options - expensive formation, detailed winding up procedures, and corporate disclosures - are genuine disadvantages. Note the question has garbled text.

Generally, a meeting requires multiple people, but the Companies Act allows for a single person to constitute a meeting in specific circumstances, such as a meeting of a One Person Company or when ordered by a court.

Under the Companies Act, a company can be limited by shares or by guarantee. Limited by shares is the most common form where liability is restricted to the unpaid amount on the shares held.

Comparing a company secretary to a hub in a bicycle wheel emphasizes their central role in coordinating administrative and legal functions, which highlights their importance to the organization.

If one company has the power to appoint the majority of the directors of another company, the latter is considered a subsidiary of the former.

Once a company name is approved by the Registrar of Companies, the company must be incorporated within a specified timeframe, which is 3 months under current regulations.

The Salomon v. Salomon case established the principle of separate legal entity, limited liability of shareholders, and the fact that a member can also be a creditor of the company.

A company incorporated outside India that establishes a place of business within India is defined as a foreign company.

A Company which is formed and registered under the Companies Act, 2013, including the companies which are earlier registered under any of the previous companies act, are called as the Incorporated or Registered Company.

Certificate of incorporation is a legal document required at the time of company formation. It is said to be a license to form a company, issued by the state government or, in some jurisdictions, by non-governmental entity. A public limited company having share capital, can not start its business unless it obtains the certificate of commencement of business from the Registrar of Companies. So a public company required both the certificates to start it's business.

In a company limited by guarantee, the liability of members is limited to the amount they have undertaken to contribute to the assets of the company in the event of its winding up.

The name of the company is the indicator of its legal status. When you're starting a small business, deciding its legal structure is one of the first steps. Legal structure is usually determined by the business type, the number of owners or investors it has, and how tax and liability issues are best managed. You'll likely use an abbreviation, such as Inc., Ltd., Co., or LLC, after your business's name to indicate its structure. 

In case of a public company five members should be personally present if the number of members as on the date of meeting is not more than one thousand. 

As per section 2(71) of the companies Act 2013 a public limited company is a company which is not a private company and has a minimum paid up share capital of Rs-5,00,000. The minimum number of members in a public limited company are seven and maximum are unlimited.