Q.What is meant by chartered company ?

A chartered company is one formed under a special charter or Royal Charter issued by the king/queen (head of state), which governs its powers and rights.

In the Tamil Nadu HSC Commerce syllabus, companies are classified by their mode of incorporation, and one such type is the chartered company:

• A chartered company is incorporated under a special charter granted by the King or Queen (or the head of state), not under the general Companies Act.
• The charter is the document that sets out the company's powers, rights, privileges and the nature of business it may carry on.
• These were common in earlier centuries, especially for trade with distant lands. Well-known examples include the East India Company and the Bank of England. …