The word "company" has no strictly technical or legal meaning. It may be described to imply an association of persons for some common object to carry on a business for gain.
Definition:- The Act does not define a company in terms of its features. Section 3(1)(i) of the act merely states that " a company means a company formed and registered under this Act or an existing company as defined in section 3(1)(i)". Section 3(1)(i) lays down that " an existing company means a company formed and registered under any of the previous company law. Definitions are more given by different authorities.
LORD JUSTICE LINDLEY
CHIEF JUSTICE MARSHALL
PROF. HANEY
