Defintion of Company:
According to Company act, 1956 section 3(1) (i) & (ii), “It is a company, who is worked under company act and co-operate their rules & regulation in his services and who is under-worked, it will also keep in their regulation. Under-worked company is who is registered according to old company act and worked into old procedures.
Characteristics of Company:
1. Incorporated Association: It’s most important adjustment in prevalent company. A Joint Capital Company built up by registration. In any registered company or partership firm who is build up of earn profit and member most requirement more than 10 in banking trade & more than 20 in other trade.
2. Artificial Legal Person: Company’s most important characteristic is being an artificial person build up legislation. It’s a invisible, un-statue & immortal person. They have many authorities and responsibilities towards the natural people and it’s built un-natural methods.
Over three-fourth of senior business leaders surveyed in India believe top executives at large public companies are paid “too much”, says a report.
Indian businesses strongly support greater shareholder involvement in setting CEO compensation and would rather opt for a more transparent machinery, according to Grant Thornton International Business
About 70 per cent of Indian business leaders (higher than global average of 67 per cent) believe shareholders should have greater involvement in remuneration policy for senior executives at large public companies, a survey in the report said.
“As much as 78 per cent believe that senior executives are paid too much,” it added.
“Senior executives have to clearly demonstrate performance, and tangible, measurable value, to the ones who matter most -the shareholders,” Grant Thornton India Partner and Practice Leader, Business AdvisoryServices Vinamra Shastri said.
With respect to Indian executive compensation Grant Thornton, however, said “the proportion of family-owned and family-managed businesses is larger in India. Hence, the opinion of the value that professionals bring, and the rewards they subsequently get, may be lower in some cases.”