Companies can be classified based on various criteria:
On the Basis of Liability:
Limited by Shares: Liability of members is limited to the unpaid amount on shares.
Limited by Guarantee: Liability is limited to the amount members undertake to contribute to assets in the event of winding up.
Unlimited Company: No limit on the liability of members.
On the Basis of Members:
One Person Company (OPC): Only 1 member.
Private Company: Minimum 2, maximum 200 members.
Public Company: Minimum 7 members, no maximum limit.
On the Basis of Control/Ownership:
Holding and Subsidiary Companies.
Associate Companies: Where another company has "significant influence" (at least 20% voting power).
Government Companies: 51% or more share capital held by the Government.
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