The objective clause requires you to summarize the main objectives for establishing the company with reference to the requirements for shareholding and use of financial resources. You also need to state ancillary objectives; that is, those objectives that are required to facilitate the achievement of the main objectives.

A company which cannot be termed as foreign company under the provision of the Companies Act should be regarded as a domestic company.

A company is an artificial person and does not have a physical presence. Thus, it acts through its Board of Directors for carrying out its activities and entering into various agreements. Such contracts must be under the seal of the company. The common seal is the official signature of the company.

The Articles of association (AOA) is a document that contains the purpose of the company as well as the duties and responsibilities of its members. It is an important document which needs to be filed with the Registrar of Companies.

A Memorandum of Association (MOA) is a legal document prepared in the formation and registration process of a limited liability company to define its relationship with the shareholders.

(i) Though the separate personality of the Company is legally recognised, it needs the human agency to Act.
(ii) Obviously it cannot sign.
(iii) Any contract entered into by a Company, to be valid, must bear the official seal of the Company.

A company limited by guarantee is a company in which the liability of its members is limited by its memorandum to such an amount as the members may respectively undertake to contribute to the assets of the company in the event of its being wound up. Such companies are generally formed for the promotion of Commerce, Art, Science, Religion, Charity or any other useful object. The companies limited by guarantee may be either private companies or public companies.

Every partner is jointly and severally liable for all acts of the firm. It means that in case these its are inadequate for meeting the claims of creditors, even their personal properties should be made available. The creditors can recover their claims from all the partners.

The principle of voting in a company is one share-one vote i.e. if a person has 10 shares; he has 10 votes in the company. This is in direct distinction to the voting principle of a co-operative society where the "One Member - One Vote" principle applies i.e. irrespective of the number of shares held, one member has only one vote.

Domestic Company means an Indian Company, or any other company which, in respect of its income liable to tax under the act, has made the prescribed arrangements for the declaration and payment, within India, of the dividends (including dividends on preference shares) payable out of such income.

(i) The Articles of Association (AOA) is a document that contains the purpose of the company as well as the duties and responsibilities of its members.
(ii) It is an important document which needs to be filed with the Registrar of Companies.
(iii) In the Companies Act, Table A Prescribes model for the articles of the companies. Table A is a document containing rules and regulations for the internal management of a company.

(i) A Memorandum of Association (MOA) is a legal document prepared in the formation and registration process of a limited liability company to define its relationship with shareholders.
(ii) It reveals what powers it has and what activities the company is permitted to undertake.
(iii) It is a public document and any person dealing with the company is presumed to have sufficient knowledge of it. It is the primary document of a company.

Chartered Companies:
Chartered companies are established by the King or Queen of a country. Powers and privileges of these companies are specified in the charter. The cancellation of power is in the hands of King/Queen. E.g East Indian Company, Bank of England etc.
Statutory Companies:
Companies are established by a Special Act made in the Parliament/State Assembly. The Constitution of the company is specified in the Memorandum of Association. The rules are specified in the Articles of Association. Statutory companies enjoy autonomous status. It need not use the word 'Limited' next to its name.
Association Not for Profit:
According to section 25, the Central Government may, by license, grant that an association may be registered as a company with the limited liability, without using the words 'Limited' or 'private limited' as part of its name. The license will be granted only in the case of 'association not for profit'. Such companies may be public or private companies and may or may not have share capital.

(i) On the basis of incorporation:
Companies of this kind are three types.
(1) Chartered Companies:
(a) Chartered Companies are established by the King or Queen of a Country.
(b) Powers and privileges of Chartered Company are specified in the Charter.
(c) Examples: East India Company and Bank of England.
(2) Statutory Companies:
(a) Companies are established by a special Act made in parliament/state Assembly.
(b) Constitution of the company is specified in the Memorandum of Association.
(c) Rules relating to day-to-day Management of Statutory Companies are specified in the Articles of Association.
(d) Examples: Reserve Bank of India, Life Insurance Corporation of India.
(3) Association Not for Profit:
According to Section 25, the Central Government may, by license, grant that an Association may be registered as a Company with limited liability, without using the words 'Limited' or 'Private Limited' as part of its name.
(ii) On the basis of Membership:
(1) Private Company:
(a) Private Limited Company is a company which has a minimum paid up capital of rupees one lakh or such higher paid-up Capital as may be prescribed.
(b) Maximum 200 persons can become shareholders in a Private Company.
(2) Public Company:
(a) Public Company means a Company which is not a Private Company.
(b) Minimum number of person is seven and there is no limit to the maximum number of shareholders.