Evolution of Companies Law in India

Abstract

The common consciousness of the people are instrumental, to a great extent, in the development of the laws. Even in corporate laws it came to realise and play a pivotal role. Even in the period of Kotilya they were corporations. they had modern look and aspects in that period also. the institution of “Shreni” was a corporation of man following the same trade, art and craft and they had simulacrum and akinness with the “Guilds” of medieval Europe. There were other types of corporate organisations. trade was carried on the joint-stock principles.^[1] There is evidence to suggest that traders would organise into a partnership form for the purposes of engaging in longer distance travel and trade over sea and land. All these glimpses lend view to a sense of similarity in the concept of partnership like that of today.

[1] R C Majumdear, “Ancient India”, p. 215-216.