Understanding the Significance of a Statutory Company

Tue, 19 Sep 2023 06:11:24 +0000

A statutory company is a distinctive legal entity that holds a unique position in the corporate world. This specialized form of business organization is established by a specific statute or law passed by a government. Unlike regular companies, which are incorporated under general company laws, a statutory company is created to fulfill a specific public purpose, often relating to sectors such as utilities, infrastructure, or public services. This article delves into the key aspects of a statutory company, its characteristics, advantages, and limitations.