There are some branches of Law which cannot be properly understood without their historical background and company law is certainly one of them. Companies formed for the purpose of carrying of business have a long history. Such companies enjoying corporate status to appear in the 16th century. one of such companies was the East India Company which started business in this century in 1600 A.D. But the history of modern company law in England began in 1844 when the joint companies Act was passed.