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Winding up of companies : It is a process through which the property of the company is administered by the liquidator who takes control of the company, liquidates the assets and pay off the debts owed by the company and thereafter distributes the surplus, if any to the members according to the proportion of shares held by them. Dissolution is the stage where a company ceases to exist, its name is struck off by the registrar.

What is share ? A limited company can raise their funds by way of issuing shares to the general public. The face value of the total shares issued by a company reflects the company’s share capital. A share in a company is a unit into which the total capital of the company is divided, as such share is a proportion of capital which each shareholder is entitled. Share represent a legal relationship between the company and the shareholders. 

Memorandum of Association is a legal documents for incorporation of a company. Memorandum of association is a fundamental legal document on the basis of which the company conducts its external affairs. This document signifies the powers of the company as well as limitation of the company. It contains information regarding the purpose, capital place of business liability of the members and acquisition of shares by the subscribers.

Certificate of incorporation is issued in the following situation                                                         i.             On registration of a company.                                                       ii.             On the change of the name of a company / amended certificate to be issued.     ...

What is share? A limited company can raise their funds by way of issuing shares to the general public. The face value of the total shares issued by a company reflects the company’s share capital. A share in a company is a unit into which the total capital of the company is divided, as such share is a proportion of capital which each shareholder is entitled. Share represent a legal relationship between the company and the shareholders.

Objectives of Companies Ordinance 1984: Consolidate and amend the law relating to companies Healthy growth of corporate sector Setting minimum standards of integrity and management Prevention of malpractices Promotion of investment Protection of interests of shareholders Full and fair disclosure of information / documents i.e. balance sheet, income statement. Empowering government to intervene and investigate Advantages of incorporation / Company: Company is a separate legal entity Artificial person Perpetual succession, its activities remain continue Company has legal capacity to sue and can be sued in its own name Liability of members is limited Shares are freely transferable Formation of Companies Phases in formation of a company Promotion phase Registration phase Commencement of business Promotion Phase : all spade work, documentation and different formalities from the very beginning till the formation of company are undertaken by the persons ...

Dissolution of Partnership section 39 The dissolution of partnership between all the partners of a firm is called the “dissolution of the Firm”. According to SEC 40, a firm may be dissolved with the consent of all the partners or in accordance with a contract between the partners.