example the East India Company

Their powers and actions are governed by the charter. For example the East India Company, Bank of England;etc. Such companies are now treated as foreign companies.Companies may be classified from different(points of view as follows A. Companies According to their Mode of Incorporation. In this point of view companies may bel. Chartered Companies, 2. Statutory Companies, and 3.Companies.1. Chartered Companies. These companies are incorporated under special Royal charter issued by the King or Queen. A company registered under the companies Act is not a chartered company Union of India AIR (/959) Cat. 95].2. Statutory Companies. Companies which are brought into existence and governed by special Acts of the legislature are known as Statutory Com allies. Public utility services, electric supply, gas work, etc, are generall by cnmpames ormed unaer specl11c Ja v WhICll govern and hese Com anies are usuall given some special owers which are not generall ossessed b companies regis ereer Companies Act.. This is necessary because public uti ItIes are mo oly orgamsatIons and supply services which are vital to the needs of the public. The Reserve Bank of India, the L.I.C.
of India, the Unit imes of India, the Indian Airlines and the State Bank of India are some examples of statutory companies in India. The audit of such companies is conducted under the supervision and control of the Auditor General of India. These companies have a corporate existence and can sue or be sued in their own name. 3. Registered Companies. Companies registered under the Companies Act, 1956 or under any previous Companies Act; are
Registered Companies.