Since a company is a legal abstraction without a physical form but is endowed with a separate identity it has been found necessary to have a separate law to regulate its activities and to formulate rules and regulations relating to its functions. In India the activities of the companies are regulated by a separate statute. The law governing the activities of the company law first enacted in India in the year 1866 in the form of The Indian Companies Act, 1866. This Act was succeeded by Indian Companies Act, 1882 and the Indian Companies Act, 1913. -
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