COMPANY AS A BUSINESS MEDIUM

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..... aning of a company by reason of a license" - Section 25(1) Characteristics:- Corporate Personality Being a separate legal entity it bears its own name and acts under a corporate name. Limited Liability Perpetual Succession Members may come and go but the company will go forever. Separate Property no member can claim himself to be owner of Company property during its existence .....

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..... 0 in case of Banking Company section 11 Co- operative Society Company Concept of Corporate Personality Lifting of Corporate Veil:- Where a fraudulent and dishonest use is made of legal entity, the individuals concerned will not be allowed to take shelter behind the corporate personality Section 45, 147, 212, 247 and 542. Personal Liability Of Directors and M .....

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