Meaning and Definition of cooperation - 

       'Corporation' means a body of person Associated for some purpose and considered as having rights and duties the and the capacity of succession. Thus, A corporation aggregate is made up of groups of persons.

       A corporation is a legal personality capable to enter into contract and can be sued or can sue at the time of its creation are at any subsequent period of its existence.

      The term Corporation has been defined under Section 2(7) of the Indian Companies Act 1956 (Corresponding Section 2(11) of the Companies Act 2013) as under -

             " A body corporate or Corporation includes a company incorporated outside India but does not include -

    (a)  a cooperative society registered under any law relating to cooperative societies and;

   (b)  Any other body corporate (not being a company)  which the central government may by notification in the official Gazette, specify in this behalf.

  According to Section 2(20) of the Companies Act 2013,  The term company means a group of individuals formed and registered under the Companies Act 2013.

 Corporation under the constitution of India -

According to article 12 of the Indian Constitution, the term state includes the following -

     (1) The government and the Parliament of India, for i.e, executive and Legislature of the union.

    (2) The Government and the Legislature of each state for example, Executive and Legislature of State.

   (3) All local or other authorities within the territory of India.

  (4) All local and other authorities within the territory of India are under the control of the Government of India.

Relevant Case Law - 

Electricity Board (Rajasthan) Vs.  Mohanlal (AIR 1967 S.C. 1857)

     In this case, the Supreme Court has held that the expression "other authorities" is wide enough to include all authorities are created by the constitution or statute on whom powers are bestowed by law. The Court explained that it is not necessary that such statutory authority should be engaged in sovereign or governmental function.

See also...

Difference/Distinction between Shares and Stock | Company Law

Shares: Meaning and Kinds of Shares | Company Law

Share capital, What are different Kinds of share Capital?

Meaning, Definition and Kinds of Quasi Contracts


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