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According to the guidelines laid down by the government

of India, the capital of a joint sector undertaking is to
be shared as follows: government 26%, Private
businessmen 25% and the investing public 49%. No
single private party can hold more than 25% of the paid
up capital without the permission of the Central
Government
 

  


  
  

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PARTNERSHIP is Əis an agreement between persons who have
agreed to share profits of a business carried on by all or any of
them acting for allƐ.

FEATURES OF PARTNERSHIP

ã Agreement
ã Mutual Trust
ã Agency
ã Sharing of Profits from business
ã Unlimited liabilities

TYPES OF PARTNERS

ã Active
ã Dormant
ã Secret
ã Nominal
DISSOLUTION OF PARTNERSHIP

By Agreement : with the consent of all the partners.

Compulsory: Unlawful business, Bankruptcy

Contingent: Expiry of term, Completion of venture, Death of

Partner, Insolvency of any partner

Court: Unsound mind, Permanent incapacitated, Guilty of

Misconduct, guilty of Breach of Contract, Transfer of interest,
Business Losses, Just & Equitable.
 

 

   


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PUBLIC SECTOR ENTERPRISE

1. Departmental Undertakings: Like Post and Telegrams,

Railways, Broad casting services, Defence
Establishments, Automic power projects.

2. Public Corporations: like RBI, LIC, IDBI, etc.

3. Government Company
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Joint stock company is a voluntary association of individuals for
profit, having a capital divided into transferable shares, the
ownership of which is the condition of membership

CHARACTERSTICS

Voluntary Association
Independent legal Entity
Perpetual Existence
Common Seal
Limited Liability
Transferability of Shares

A Joint Stock Company can be a Public Limited Company or a private

limited Company








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ã PROMOTION
ã INCORPORATION
ã COMMENCEMENT

PROMOTION
Promoter is a person who conceives the idea of starting a business, plans
the formation of a company and actually brings it into existence.

INCORPORATION
It is the incorporation which brings a company into existence as a
separate corporate entity. The promoter has to take the following
preliminary steps in this connection :
ã Ascertainment of availability of the proposed name of the company
ã Application for certificate of incorporation
ã SEBIƍs Approval to the Draft Prospectus
MEANS OF FINANCE for a Joint Stock Company are:

Shares
Debentures
Short Term/ Long term loans
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