Statutory companies: A company which is formed by a special legislation such as special Act of parliament is called a statutory company. It is primarily and undertaking of a public nature with extensive powers which can be conferred by a special legislation. e.g., Reserve Bank of India. Registered companies: A company which is incorporated under the Companies Act 1956 or was registered under any previous Companies Acts, is called the Registered Company. Registered companies are divided into unlimited companies and  limited companies based on the extent of liability of its members. Unlimited companies: In this type of company, every shareholder is personally liable for the whole debts of the company, as in an ordinary partnership firm, when it is would up. But the creditors cannot directly sue the members of the company. They have to file a suit against the company first. Moreover, they can only be called to pay pro rata. Limited companies: The liability of the members of shareholders of such companies is limited. TH reword limited or Ltd. must be written after the name of such companies so that the public may know that the liability of their members is limited.

Companies limited by guarantee: In this type of companies, each member undertakes to contribute to the assets of the company, in the event of its being wound up, such amount not exceeding the specified or guarantee amount as may be required to pay off the creditors. Clubs, trade associations and societies for promoting social objects companies may or may not have share capital. A guarantee company without share capital receives its initial working capital not form its members but from some other sources like grants, fees, subscriptions, endowments and the like. But a guarantee company formed with a share capital imposes double liability on its shareholders, i.e., they will have to pay the issue price of their shares and also to honor their guarantee in the event of winding up of the company. Companies limited by shares: In such companies, the capital is divided into shares of definite amounts. The liability of members is limited to the face or nominal value of the shares held by them.

Private company: Private company means a company which has a minimum paid up capital of one lakh rupees or such higher paid-up capital as may be prescribed by its articles. It
(i)    restricts the right to transfer its shares.
(ii)    limits the number of members to 50 (excluding its past and present employee members;
(iii)    prohibits any invitation to the public to subscribe for any shares in, or debentures of, the company;
(iv)    prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives.

Public company: A public company means a company which:

(a)    is not a private company;
(b)    has a minimum paid up capital of five lakh rupees or such higher paid up capital, as may be prescribed;
(c)    is a private company which is a subsidiary of public company.

Government company: A Government Company as a company in which not less than 51 per cent of the paid up share capital is held by the Central Government, or by any State Government or Governments or partly by one or more State Governments ad includes a company which is a subsidiary of a Government Company. Shares held by municipal and other local authorities or public corporations are not to be taken into consideration.

Non-profit making companies: A limited company formed for the purpose of promoting commerce, art, science, religion, charity or any other useful object and intends to apply its profits in promoting its objects is termed as non-profit making company. Such companies are prohibited form declaring dividends for its members.

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