Tag: types of companies - private & public

When a private company is converting into a public company it has to file with concerned ROC the Statement in Lieu of Prospectus. A statement in lieu of prospectus is defined as ‘a public document prepared in the second schedule of companies ordinance by every such public company which does not issue a prospectus on its formation by filing with the registrar before allotment or shares of debentures, and signed by every person who is named therein’. A statement in lieu of prospectus gives practically the same information as a prospectus and is signed by all the directors or proposed directors. In case the company has not filed a statement in lieu of prospectus with the registrar, it is then not allowed to allot any of its shares or debentures.

Annual General Meeting of a public company cannot be held on a public holiday. Section 166(2) inter alia states that every annual general meeting shall be called on a day, which is not a public holiday. It has been clarified by the Department (MCA) vide Circular F. No. 8/23/(166 /69-CL-V that section 166 of the Companies Act deals with the actual period during which the annual general meeting is to be held. Sub-section (2) states that every annual general meeting shall be held on a day that is not a public holiday and this provision is mandatory.

Reliance Industries Limited is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra, India. Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.

Sunil Bharti Mittal is an Indian Billionaire entrepreneur, philanthropist and the Founder & Chairman of Bharti Enterprises, which has diversified interests in telecom, insurance, real estate, education, malls, hospitality, agri and food besides other venture.

Corporate social responsibility is a commitment to do more than just serve the needs and expectations of customers and shareholders. It can also mean going beyond business basics and serving a social need. 

360 Degree Feedback is a system or process in which employees receive confidential, anonymous feedback from the people who work around them. This typically includes the employee's manager, peers, and direct reports. 

1. A departmental undertaking is self- contained but it is under the overall control of the departmental head and the ministry concerned. It is a very old and traditional form of public enterprise. It may be organized as a separate full-fledged ministry.
2. Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. The Act defines its powers and functions, rules and regulations governing its employees and its relationship with government departments. ... It is a corporate person and has the capacity of acting in its own name.
3. Government Company is a company or an organization in which at least 51% of the paid up share capital is held by the central government or the state government or partly by both central and state government.
   

An important objective of public enterprises is to prevent the concentration of economic power and growth of private monopolies. Public sector helps the government to enforce social control on trade and industry for ensuring equitable distribution of goods and services, Public sector organisations are businesses set up with the aim of providing a public service rather than making a profit. Social enterprises are private organisations that are run along business lines, but where any profits are reinvested into the community or into social or environmental projects.

The chief characteristics of public enterprises are:

Subsidiaries remain private. They are private subsidiaries of a public company. Think about it: if a subsidiary went public, that would mean that its shares were being offered to the public, instead of all being owned by the parent company, and so it would no longer be a subsidiary.