Principles of Insurance

Many insureds do not understand a common fundamental legal principle known as the "Principle of Indemnity Principles of Insurance. These are five principles of insurance that are important to understand to ensure that your insurance policies are covered on the correct basis.

How to convert public limited company into private limited company

According to Section 231 and 232 of the Companies Act 1994 a public limited company may convert into private limited company by fulfilling the following condition:

How to covert private limited company into public limited company?

According to Section 231 and 232 of the Companies Act 1994 a private limited company may convert into public limited company by fulfilling conditions as mentioned below :

How a company is incorporated?

The promoters or the sponsors take the initiatives to incorporate a company under the Companies Act.  A three stage process is taking place in regard to incorporate of a company, such as 1. Promotion 2. Incorporation/Registration and 3. commencement of business.

What is Notice of Abandon?

Notice of abandon is a formal notice of relinquishment or unconditional surrender of all rights to a property, cargo, or ship by its insured owner to the insurer in the event of a constructive total loss.

What is Fire Insurance?

A Contract of fire insurance includes a contract that insures the property therein described against loss or damage by fire and against loss or damage from other hazards that may be insured under a license to transact fire insurance. 

Type of Company

To formalize your organization, first learn about and decide which business type is right for you. There are different types of company such as:

1. Private Company limited by shares

2. Public Company limited by shares

3. Company limited by Guarantee

4. Unlimited Company