Corporate Personality Definition of “Company” . Under Indian law, a company is an incorporated association of persons. Section 2(20) of the Companies Act, 2013 defines “company” as “a company incorporated under this Act or under any previous company law”. In other words, any corporate entity registered under the present Act or earlier companies acts qualifies as a company. By fiction of law, such a corporation is treated as an artificial person distinct from its members, possessing rights and obligations of its own. Extent of Application (s.1(4)) . Section 1(4) makes clear that the Companies Act, 2013 applies broadly to modern corporate bodies, with specified exceptions. It expressly covers “companies incorporated under this Act or under any previous company law”. It also extends (subject to inconsistency) to insurance companies, banking companies, electricity companies, and other special acts. Thus the Act governs virtually all corporations in India, except where a spe...