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We have heard about companies like Reliance Industries Limited (RIL), Tata Iron and Steel Company Limited (TISCO), Maruti Udyog Limited (MUL) etc. these are all Joint Stock Companies which are owned by not just 1 or 20 but many people
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What is a Joint Stock Company? Explain the merits and demerits of a Joint Stock Company? Introduction We have heard about companies like Reliance Industries Limited (RIL), Tata Iron and Steel Company Limited (TISCO), Maruti Udyog Limited (MUL) etc. these are all Joint Stock Companies which are owned by not just 1 or 20 but many people, as they are quite large in size and their activities are spread all over the country. These companies are different from sole proprietorship or partnership form of Business Organization. Text What is a Joint Stock Company? A company form of business organization is known as Joint Stock Company. It is a voluntary association of persons who generally contribute capital to carry on a particular type of business, which is established by law and can be dissolved only by law. The Indian Companies Act, 1956, governs these companies. This form of business has a legal existence separate from...
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