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142-615: South Bengal State Transport Corporation ( SBSTC ) is a West Bengal state government undertaken transport corporation . It plys buses in South Bengal and other parts of West Bengal to Durgapur and Kolkata . SBSTC owns many depots in West Bengal to station their buses. It is headquartered in Station Road, Durgapur . By providing link between Jharkhand and West Bengal, it is the backbone of many people residing in
284-623: A Sub-Divisional Magistrate , and again into blocks. Blocks consists of panchayats (village councils) and town municipalities. The capital and largest city of the state is Kolkata —the third-largest urban agglomeration and the seventh-largest city in India. Asansol is the second-largest city and urban agglomeration in West Bengal. Major planned cities of West Bengal include Bidhannagar , New Town , Kalyani , Haldia , Durgapur and Kharagpur . Kolkata has some planned neighbourhoods like New Garia , Tollygunge , and Lake Town . Siliguri
426-655: A phytogeographic viewpoint, the southern part of West Bengal can be divided into two regions: the Gangetic plain and the littoral mangrove forests of the Sundarbans. The alluvial soil of the Gangetic plain, combined with favourable rainfall, makes this region especially fertile. Much of the vegetation of the western part of the state has similar species composition with the plants of the Chota Nagpur plateau in
568-492: A separate legal person was mainly administrative, as a unified entity under which the rights and duties of all investors and managers could be channeled. However, there was still no limited liability and company members could still be held responsible for unlimited losses by the company. The next, crucial development, then, was the Limited Liability Act 1855 , passed at the behest of the then Vice President of
710-410: A welfare state , West Bengal's economy is based on agricultural production and small and medium-sized enterprises . The state's cultural heritage, besides varied folk traditions, ranges from stalwarts in literature including Nobel-laureate Rabindranath Tagore to scores of musicians, film-makers and artists. For several decades, the state underwent political violence and economic stagnation after
852-468: A Vanga kingdom prince, conquered Lanka (modern-day Sri Lanka) and named the country Sinhala kingdom . The kingdom of Magadha was formed in the 7th century BCE, consisting of the regions now comprising Bihar and Bengal. It was one of the four main kingdoms of India at the time of the lives of Mahavira , the principal figure of Jainism and Gautama Buddha , founder of Buddhism . It consisted of several janapadas , or kingdoms. Under Ashoka ,
994-400: A charter granted by the government. As explained above, such charters were often enacted as private bills . Today, a corporation is formed, or incorporated , by registering with the state, province, or national government and regulated by the laws enacted by that government. Registration is the main prerequisite to the corporation's assumption of limited liability. The law sometimes requires
1136-609: A clean and hassle free ride to the people of Durgapur. initially, it started with only 8 buses operated inside the township covering a total route length of 65 km. In 1964–65, the fleet strength increased to 25 with and total operating route length increased to 102 km. In 1965–66, the fleet strength is increased to 62 and route length became 428 km. On 15 August 1967, it was renamed to "Durgapur State Transport Board (DSTB)".In 1968–69, DSTB extended its activities through augmentation of fleet strength of 100 buses operating in 11 long distance routes and 8 township routes covering
1278-489: A corporation are typically controlled by individuals appointed by the members. In some cases, this will be a single individual but more commonly corporations are controlled by a committee or by committees. Broadly speaking, there are two kinds of committee structure. In countries with co-determination (such as in Germany ), workers elect a fixed fraction of the corporation's board. Historically, corporations were created by
1420-436: A corporation as: a collection of many individuals united into one body, under a special denomination, having perpetual succession under an artificial form, and vested, by the policy of the law, with the capacity of acting, in several respects, as an individual, particularly of taking and granting property, of contracting obligations, and of suing and being sued, of enjoying privileges and immunities in common, and of exercising
1562-558: A corporation can be classified as aggregate (the subject of this article) or sole (a legal entity consisting of a single incorporated office occupied by a single natural person ). Registered corporations have legal personality recognized by local authorities and their shares are owned by shareholders whose liability is generally limited to their investment. One of the attractive early advantages business corporations offered to their investors , compared to earlier business entities like sole proprietorships and joint partnerships ,
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#17327725570301704-439: A corporation; shareholders instead elect or appoint a board of directors to control the corporation in a fiduciary capacity. In most circumstances, a shareholder may also serve as a director or officer of a corporation. Countries with co-determination employ the practice of workers of an enterprise having the right to vote for representatives on the board of directors in a company. The word "corporation" derives from corpus ,
1846-424: A distinct name. Historically, some corporations were named after the members of their boards of directors: for example, the " President and Fellows of Harvard College " is the name of one of the two governing boards of Harvard University , but it is also the exact name under which Harvard was legally incorporated. Nowadays, corporations in most jurisdictions have a distinct name that does not need to make reference to
1988-430: A low of 10.3% in 2010–2011 to a high of 17.11% in 2013–2014. The growth rate was 13.35% in 2014–2015. The state's per capita income has lagged the all India average for over two decades. As of 2014–2015, per capita NSDP at current prices was Rs 78,903. Per-capita NSDP growth rate at current prices varied from 9.4% in 2010–2011 to a high of 16.15% in 2013–2014. The growth rate was 12.62% in 2014–2015. In 2015–2016,
2130-490: A major centre for the jute and tea industries. Years after independence, West Bengal is dependent on the central government for help in meeting its demands for food; food production remained stagnant, and the Indian green revolution bypassed the state. However, there has been a significant increase in food production since the 1980s and the state now has a surplus of grains. The state's share of total industrial output in India
2272-586: A major change when the Left Front won the 1977 assembly election, defeating the incumbent Indian National Congress. The Left Front, led by the Communist Party of India (Marxist) , governed the state for the next three decades. The state's economic recovery gathered momentum after the central government introduced economic liberalisations in the mid-1990s. This was aided by the advent of information technology and IT-enabled services . Beginning in
2414-618: A major role in the Indian independence movement , in which revolutionary groups such as Anushilan Samiti and Jugantar were dominant. Armed attempts against the British Raj from Bengal reached a climax when news of Subhas Chandra Bose leading the Indian National Army against the British reached Bengal. The Indian National Army was subsequently routed by the British. When India gained independence in 1947, Bengal
2556-399: A monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration . Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue stock , or whether they are formed to make a profit . Depending on the number of owners,
2698-476: A natural fish nursery, supporting coastal fishes along the Bay of Bengal. Recognising its special conservation value, the Sundarbans area has been declared a Biosphere Reserve . West Bengal is governed through a parliamentary system of representative democracy , a feature the state shares with other Indian states. Universal suffrage is granted to residents. There are two branches of government. The legislature,
2840-411: A number of steel plants. Important manufacturing industries include: engineering products, electronics, electrical equipment, cables, steel, leather, textiles, jewellery, frigates, automobiles, railway coaches and wagons. The Durgapur centre has established several industries in the areas of tea, sugar, chemicals and fertilisers . Natural resources like tea and jute in nearby areas have made West Bengal
2982-537: A partnership arose. Early guilds and livery companies were also often involved in the regulation of competition between traders. Dutch and English chartered companies, such as the Dutch East India Company (also known by its Dutch initials: VOC) and the Hudson's Bay Company , were created to lead the colonial ventures of European nations in the 17th century. Acting under a charter sanctioned by
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#17327725570303124-553: A partnership or some other form of collective ownership (in the United States it can be used by a sole proprietorship but this is not generally the case elsewhere). Despite not being human beings, corporations have been ruled legal persons in a few countries, and have many of the same rights as natural persons do. For example, a corporation can own property, and can sue or be sued for as long as it exists. Corporations can exercise human rights against real individuals and
3266-412: A population density of 1,029 inhabitants per square kilometre (2,670/sq mi) making it the second-most densely populated state in India, after Bihar. The literacy rate is 77.08%, higher than the national rate of 74.04%. Data from 2010 to 2014 showed the life expectancy in the state was 70.2 years, higher than the national value of 67.9. The proportion of people living below the poverty line in 2013
3408-481: A private act to allow an individual to represent the whole in legal proceedings, this was a narrow and necessarily costly expedient, allowed only to established companies. Then, in 1843, William Gladstone became the chairman of a Parliamentary Committee on Joint Stock Companies, which led to the Joint Stock Companies Act 1844 , regarded as the first modern piece of company law. The Act created
3550-466: A proliferation of laws allowing for the creation of corporations by registration across the world, which helped to drive economic booms in many countries before and after World War I. Another major post World War I shift was toward the development of conglomerates , in which large corporations purchased smaller corporations to expand their industrial base. Starting in the 1980s, many countries with large state-owned corporations moved toward privatization ,
3692-544: A semi-independent state under the Nawabs of Bengal , and showed signs of the world's first Industrial Revolution . The Koch dynasty in northern Bengal flourished during the 16th and 17th centuries; it weathered the Mughals and survived until the advent of the British colonial era. Several European traders reached this area in the late 15th century. The British East India Company defeated Siraj ud-Daulah ,
3834-402: A total fifteen depots, four bus terminus, two bus counter and one bus stand. Rail Station Bus Terminus Santragachi Bus Terminus Garia Bus Depot The list of depots in different years after the inception of SBSTC are as follows: West Bengal West Bengal ( / b ɛ n ˈ ɡ ɔː l / ; Bengali : Poshchim Bongo , pronounced [ˈpoʃtʃim ˈbɔŋɡo] , abbr. WB )
3976-537: A total route length of 1200 km and 176 km respectively. In 1972–73, Durgapur - Siliguri bus service was introduced with 3 new town services and the total route length of long distance and town services went up to 1650 km and 143 km respectively. In 1973, DSTB was ultimately converted into public sector undertaking under the name and style of " Durgapur State Transport Corporation(DSTC)" and many new routes has been introduced. DSTC got its present name in 1988 with an objective of increasing its service to
4118-958: A variety of political rights, more or less extensive, according to the design of its institution, or the powers conferred upon it, either at the time of its creation or at any subsequent period of its existence. Due to the late 18th century abandonment of mercantilist economic theory and the rise of classical liberalism and laissez-faire economic theory due to a revolution in economics led by Adam Smith and other economists, corporations transitioned from being government or guild affiliated entities to being public and private economic entities free of governmental directions. Smith wrote in his 1776 work The Wealth of Nations that mass corporate activity could not match private entrepreneurship, because people in charge of others' money would not exercise as much care as they would with their own. The British Bubble Act 1720s prohibition on establishing companies remained in force until its repeal in 1825. By this point,
4260-476: A violent Marxist – Maoist movement by groups known as the Naxalites damaged much of the city's infrastructure, leading to a period of economic stagnation and deindustrialisation . The Bangladesh Liberation War of 1971 resulted in an influx of millions of refugees to West Bengal, causing significant strains on its infrastructure. The 1974 smallpox epidemic killed thousands. West Bengal politics underwent
4402-469: Is a state in the eastern portion of India . It is situated along the Bay of Bengal , along with a population of over 91 million inhabitants within an area of 88,752 km (34,267 sq mi) as of 2011. The population estimate as of 2023 is 102,552,787. West Bengal is the fourth-most populous and thirteenth-largest state by area in India, as well as the eighth-most populous country subdivision of
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4544-599: Is a part of the eastern Himalayas mountain range. In this region is Sandakfu , which, at 3,636 m (11,929 ft), is the highest peak in the state. The narrow Terai region separates the hills from the North Bengal plains , which in turn transitions into the Ganges delta towards the south. The Rarh region intervenes between the Ganges delta in the east and the western plateau and high lands . A small coastal region
4686-593: Is an economically important city, strategically located in the northeastern Siliguri Corridor (Chicken's Neck) of India. Other larger cities and towns in West Bengal are Howrah , Chandannagar , Bardhaman, Baharampur , Jalpaiguri , and Purulia etc. (figures in crores of Indian rupees ) As of 2015 , West Bengal has the sixth-highest GSDP in India. GSDP at current prices (base 2004–2005) has increased from Rs 2,086.56 billion in 2004–05 to Rs 8,00,868 crores in 2014–2015, reaching Rs 10,21,000 crores in 2017–18. GSDP per cent growth at current prices varied from
4828-473: Is authorized to issue, and the names and addresses of directors. Once the articles are approved, the corporation's directors meet to create bylaws that govern the internal functions of the corporation, such as meeting procedures and officer positions. In theory, a corporation cannot own its own stock. An exception is treasury stock , where the company essentially buys back stock from its shareholders, which reduces its outstanding shares. This essentially becomes
4970-529: Is dictated by elevation and precipitation . For example, the foothills of the Himalayas, the Dooars , are densely wooded with sal and other tropical evergreen trees. Above an elevation of 1,000 metres (3,300 ft), the forest becomes predominantly subtropical. In Darjeeling, which is above 1,500 metres (4,900 ft), temperate forest trees like oaks , conifers and rhododendrons predominate. 3.26% of
5112-642: Is in the extreme south, while the Sundarbans mangrove forests form a geographical landmark at the Ganges delta. The main river in West Bengal is the Ganges , which divides into two branches. One branch enters Bangladesh as the Padma , or Pôdda , while the other flows through West Bengal as the Bhagirathi River and Hooghly River . The Farakka barrage over the Ganges feeds the Hooghly branch of
5254-447: Is limited: one can only collect from whatever assets the entity still controls when one obtains a judgment against it. Corporate names are supposed to be unique to the jurisdiction in which the corporation is registered. Governments will not allow another corporation or any other kind of legal entity to register a name that is too similar to the name of an existing corporation. However, since "different states may register entities with
5396-445: Is operated throughout the entire State of West Bengal and covers almost all historical places and tourist points like Digha , Garbeta forest, Bishnupur, Mukutmonipur, Susunia Hill, Kangsabati project, Ajodhya hill, Santiniketan, Mushidabad Hazarduari (Nawab Palace), Tarapit temple, Massanjore dam, Farakka barage, Gour, Nabadwip, Mayapur, Siliguri and Darjeeling, Tarakeswar, Thakurnagar and many more. This Corporation has operations in
5538-517: Is the state's principal food crop. Rice, potato, jute , sugarcane and wheat are the state's top five crops. Tea is produced commercially in northern districts; the region is well known for Darjeeling and other high-quality teas. State industries are localised in the Kolkata region, the mineral-rich western highlands, and the Haldia Port region. The Durgapur-Asansol colliery belt is home to
5680-407: Is usually required to register with other governments as a foreign corporation and must formally appoint a registered agent to accept service of process within such other jurisdictions. A foreign corporation is almost always subject to the laws of its host state pertaining to external affairs such as employment , crimes , contracts , civil actions , and the like. Corporations generally have
5822-501: The 26th-highest ranking among Indian states in human development index , with the index value being lower than the Indian average. The state government debt of ₹ 6.47 lakh crore (US$ 78 billion), or 37.67% of GSDP, has dropped from 40.65% since 2010–11. West Bengal has three World Heritage sites and ranks as the eight-most visited tourist destination in India and third-most visited state of India globally. The origin of
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5964-631: The Bengal Legislative Council and the Bengal Legislative Assembly voted on the Partition of Bengal in 1947 along religious lines into two independent dominions : West Bengal, a Hindu-majority Indian state, and East Bengal , a Muslim-majority province of Pakistan which later became the independent Bangladesh. The state was also flooded with Hindu refugees from East Bengal (present-day Bangladesh) in
6106-693: The British Crown , administered by the Viceroy of India . The Bengal Renaissance and the Brahmo Samaj socio-cultural reform movements significantly influenced the cultural and economic life of Bengal. Between 1905 and 1911 an abortive attempt was made to divide the province of Bengal into two zones. Bengal suffered from the Great Bengal famine in 1943, which claimed three million lives during World War II. Bengalis played
6248-830: The Chief Minister although the titular head of government is the Governor . The Governor is the Head of State appointed by the President of India . The leader of the party or coalition with a majority in the Legislative Assembly is appointed as the Chief Minister by the Governor. The Council of Ministers is appointed by the Governor on the advice of the Chief Minister. The Council of Ministers reports to
6390-583: The Ganges delta , the Rarh region , the coastal Sundarbans and the Bay of Bengal . The state's main ethnic group are the Bengalis , with the Bengali Hindus forming the demographic majority. The area's early history featured a succession of Indian empires , internal squabbling, and a tussle between Hinduism and Buddhism for dominance. Ancient Bengal was the site of several major Janapadas , while
6532-676: The Government of West Bengal proposed a change in the official name of the state to Paschim Banga ( Bengali : পশ্চিমবঙ্গ Pôshchimbônggô ). This is the native name of the state, literally meaning "western Bengal" in the native Bengali language. In August 2016 the West Bengal Legislative Assembly passed another resolution to change the name of West Bengal to "Bengal" in English and "Bangla" in Bengali. Despite
6674-715: The Industrial Revolution had gathered pace, pressing for legal change to facilitate business activity. The repeal was the beginning of a gradual lifting on restrictions, though business ventures (such as those chronicled by Charles Dickens in Martin Chuzzlewit ) under primitive companies legislation were often scams. Without cohesive regulation, proverbial operations like the "Anglo-Bengalee Disinterested Loan and Life Assurance Company" were undercapitalized ventures promising no hope of success except for richly paid promoters. The process of incorporation
6816-620: The Latin word for body, or a "body of people". By the time of Justinian (reigned 527–565), Roman law recognized a range of corporate entities under the names Universitas , corpus or collegium . Following the passage of the Lex Julia during the reign of Julius Caesar as Consul and Dictator of the Roman Republic (49–44 BC), and their reaffirmation during the reign of Caesar Augustus as Princeps senatus and Imperator of
6958-979: The Lok Sabha and 16 seats to the Rajya Sabha of the Indian Parliament . Politics in West Bengal is dominated by the All India Trinamool Congress (AITC), Bharatiya Janata Party (BJP), Indian National Congress (INC), and the Left Front alliance (led by the Communist Party of India (Marxist) or CPI(M)). Following the West Bengal State Assembly Election in 2011 , the All India Trinamool Congress and Indian National Congress coalition under Mamata Banerjee of
7100-665: The Maurya Empire of Magadha in the 3rd century BCE extended over nearly all of South Asia , including Afghanistan and parts of Balochistan . From the 3rd to the 6th centuries CE, the kingdom of Magadha served as the seat of the Gupta Empire . Two kingdoms—Vanga or Samatata, and Gauda—are said in some texts to have appeared after the end of the Gupta Empire although details of their ascendancy are uncertain. The first recorded independent king of Bengal
7242-572: The Nawabs of Murshidabad , who nominally respected the sovereignty of the Mughals in Delhi . Several independent Hindu states were established in Bengal during the Mughal period, including those of Pratapaditya of Jessore District and Raja Sitaram Ray of Bardhaman . Following the death of Emperor Aurangzeb and the Governor of Bengal, Shaista Khan , the proto-industrialised Mughal Bengal became
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#17327725570307384-457: The Registrar of Joint Stock Companies , empowered to register companies by a two-stage process. The first, provisional, stage cost £5 and did not confer corporate status, which arose after completing the second stage for another £5. For the first time in history, it was possible for ordinary people through a simple registration procedure to incorporate. The advantage of establishing a company as
7526-853: The Roman Army (27 BC–14 AD), collegia required the approval of the Roman Senate or the Emperor in order to be authorized as legal bodies . These included the state itself (the Populus Romanus ), municipalities, and such private associations as sponsors of a religious cult , burial clubs , political groups, and guilds of craftsmen or traders. Such bodies commonly had the right to own property and make contracts, to receive gifts and legacies, to sue and be sued, and, in general, to perform legal acts through representatives. Private associations were granted designated privileges and liberties by
7668-685: The Suhma kingdom . One of the earliest foreign references to Bengal is a mention by the Ancient Greeks around 100 BCE of a land named Gangaridai located at the mouths of the Ganges . Bengal had overseas trade relations with Suvarnabhumi (Burma, Lower Thailand, the Lower Malay Peninsula and Sumatra ). According to the Sri Lankan chronicle Mahavamsa , Prince Vijaya ( c. 543 – c. 505 BCE ),
7810-648: The Trinamool Congress government's efforts to forge a consensus on the name change resolution, the Indian National Congress , the Left Front and the Bharatiya Janata Party opposed the resolution. However, the central government has turned down the proposal maintaining the state should have one single name for all languages instead of three and it should not be the same as that of any other territory (pointing out that
7952-729: The War of the Spanish Succession , which gave Great Britain an asiento to trade in the region for thirty years. In fact, the Spanish remained hostile and let only one ship a year enter. Unaware of the problems, investors in Britain, enticed by extravagant promises of profit from company promoters bought thousands of shares. By 1717, the South Sea Company was so wealthy (still having done no real business) that it assumed
8094-647: The West Bengal Surface Transport Corporation and the Calcutta Tramways Company . There are also private bus companies. The railway system is a nationalised service without any private investment. Hired forms of transport include metered taxis and auto rickshaws , which often ply specific routes in cities. In most of the state, cycle rickshaws and in Kolkata, hand-pulled rickshaws and electric rickshaws are used for short-distance travel. According to
8236-507: The public debt of the British government. This accelerated the inflation of the share price further, as did the Bubble Act 1720 , which (possibly with the motive of protecting the South Sea Company from competition) prohibited the establishment of any companies without a royal charter. The share price rose so rapidly that people began buying shares merely in order to sell them at a higher price, which in turn led to higher share prices. This
8378-420: The 1970s, the state has managed to revive its economy steadily throughout the years. The state has shown improvement regarding bandhs ( strikes ) and educational infrastructure. Significant strides have been made in reducing unemployment, though the state suffers from substandard healthcare services, a lack of socio-economic development, poor infrastructure, unemployment and civil violence. In 2006
8520-476: The All India Trinamool Congress was elected to power with 225 seats in the legislature. Prior to this, West Bengal was ruled by the Left Front for 34 years (1977–2011), making it the world's longest-running democratically elected communist government. Banerjee was re-elected twice as Chief Minister in the 2016 West Bengal Legislative Assembly election and 2021 West Bengal Legislative Assembly election with 211 and 215 seats respectively, an absolute majority by
8662-567: The Bay of Bengal. In early summer, brief squalls and thunderstorms known as Kalbaisakhi , or Nor'westers, often occur. West Bengal receives the Bay of Bengal branch of the Indian Ocean monsoon that moves in a southeast to northwest direction. Monsoons bring rain to the whole state from June to September. Heavy rainfall of above 250 centimetres (98 in) is observed in the Darjeeling , Jalpaiguri , and Cooch Behar district . During
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#17327725570308804-658: The Board of Trade, Robert Lowe . This allowed investors to limit their liability in the event of business failure to the amount they invested in the company – shareholders were still liable directly to creditors , but just for the unpaid portion of their shares . (The principle that shareholders are liable to the corporation had been introduced in the Joint Stock Companies Act 1844). The 1855 Act allowed limited liability to companies of more than 25 members (shareholders). Insurance companies were excluded from
8946-422: The Divisional Manager. Traffic operational activities of this Corporation which was previously confined to Durgapur and its nearby areas, has been now gradually extended to cover the districts of Burdwan, Bankura, Purulia, Midnapur, North-24 Paraganas, Howrah, Hooghly and Kolkata. At the present, SBSTC operates road transport services from its two Divisional Offices – one at Durgapur and other at Belghoria . It
9088-414: The Dutch government, the Dutch East India Company defeated Portuguese forces and established itself in the Moluccan Islands in order to profit from the European demand for spices . Investors in the VOC were issued paper certificates as proof of share ownership, and were able to trade their shares on the original Amsterdam Stock Exchange . Shareholders were also explicitly granted limited liability in
9230-491: The English East India Company would come to symbolize the dazzlingly rich potential of the corporation, as well as new methods of business that could be both brutal and exploitative. On 31 December 1600, Queen Elizabeth I granted the company a 15-year monopoly on trade to and from the East Indies and Africa . By 1711, shareholders in the East India Company were earning a return on their investment of almost 150 per cent. Subsequent stock offerings demonstrated just how lucrative
9372-400: The Legislative Assembly. The Assembly is unicameral with 295 members , or MLAs, including one nominated from the Anglo-Indian community. Terms of office run for five years unless the Assembly is dissolved before the completion of the term. Auxiliary authorities known as panchayats , for which local body elections are regularly held, govern local affairs. The state contributes 42 seats to
9514-405: The Managing Director. At Divisional level, the office is headed by Divisional Managers of the respective Divisions who is assisted by Works Manager or Works In-charge on the technical site, Traffic Manager for traffic and operation, Sr. Administrative Officer and other officers for general administration, Dy. Chief Accounts Officer for accounts matter. The Divisional Managers are directly reporting to
9656-468: The Managing Director. At the depot level, the Depot Manager or Depot In-charge is assisted by senior foremen, foreman or assistant foreman (depending upon the size of the Depot) for repair and maintenance work, Assistant Manager – Administration and Account, for general administration, accounts and disciplinary matters, Assistant Traffic Manager/Traffic Superintendent in the matter of traffic and operation. The Depot Manager or Depot In-charge directly reports to
9798-421: The Trinamool Congress. The state has one autonomous region, the Gorkhaland Territorial Administration . As of 1 November 2023, West Bengal is divided into 23 districts . Each district is governed by a district collector or district magistrate, appointed by either the Indian Administrative Service or the West Bengal Civil Service . Each district is subdivided into sub-divisions, governed by
9940-424: The UK, such as fraud and corporate manslaughter . However, corporations are not considered living entities in the way that humans are. Legal scholars and others, such as Joel Bakan , have observed that a business corporation created as a "legal person" has a psychopathic personality because it is required to elevate its own interests above those of others even when this inflicts major risks and grave harms on
10082-420: The West Bengal Legislative Assembly, consists of elected members and special office bearers such as the Speaker and Deputy Speaker, who are elected by the members. Assembly meetings are presided over by the Speaker or the Deputy Speaker in the Speaker's absence. The judiciary is composed of the Calcutta High Court and a system of lower courts. Executive authority is vested in the Council of Ministers headed by
10224-539: The act, though it was standard practice for insurance contracts to exclude action against individual members. Limited liability for insurance companies was allowed by the Companies Act 1862 . This prompted the English periodical The Economist to write in 1855 that "never, perhaps, was a change so vehemently and generally demanded, of which the importance was so much overrated." The major error of this judgment
10366-475: The adjoining state of Jharkhand. The predominant commercial tree species is Shorea robusta , commonly known as the sal tree . The coastal region of Purba Medinipur exhibits coastal vegetation; the predominant tree is the Casuarina . A notable tree from the Sundarbans is the ubiquitous sundari ( Heritiera fomes ), from which the forest gets its name. The distribution of vegetation in northern West Bengal
10508-497: The arrival of the monsoons, low pressure in the Bay of Bengal region often leads to the formation of storms in the coastal areas . Winter (December–January) is mild over the plains with average minimum temperatures of 15 °C (59 °F). A cold and dry northern wind blows in the winter, substantially lowering the humidity level. The Darjeeling Himalayan Hill region experiences a harsh winter, with occasional snowfall. The "India State of Forest Report 2017", recorded forest area in
10650-552: The beginning of communist rule in 1977 before it rebounded. In 2023–24, the economy of West Bengal is the sixth-largest state economy in India with a gross state domestic product (GSDP) of ₹ 17.19 lakh crore (US$ 210 billion), and has the country's 20th-highest GSDP per capita of ₹ 121,267 (US$ 1,500) as of 2020–21. Despite being one of the fastest-growing major economies, West Bengal has struggled to attract foreign direct investment due to adverse land acquisition policies, poor infrastructure , and red tape . It also has
10792-562: The border areas between these two states. It also connects many cities in West Bengal, particularly major cities and towns like Durgapur, Kolkata, Singur, Gobindapur, Bardhaman, Arambagh, Suri, Purulia, Digha, Medinipur, Bankura, Haldia etc. which extend up to North Bengal. The South Bengal State Transport Corporation started its journey on 1 August 1963 in Durgapur industrial township by the Government of West Bengal with an aim to provide
10934-613: The company had become. Its first stock offering in 1713–1716 raised £418,000, its second in 1717–1722 raised £1.6 million. A similar chartered company , the South Sea Company , was established in 1711 to trade in the Spanish South American colonies, but met with less success. The South Sea Company's monopoly rights were supposedly backed by the Treaty of Utrecht , signed in 1713 as a settlement following
11076-556: The company's royal charter. In England, the government created corporations under a royal charter or an Act of Parliament with the grant of a monopoly over a specified territory. The best-known example, established in 1600, was the East India Company of London . Queen Elizabeth I granted it the exclusive right to trade with all countries to the east of the Cape of Good Hope . Some corporations at this time would act on
11218-402: The corporate model for this reason (as a trust ). State governments began to adopt more permissive corporate laws from the early 19th century, although these were all restrictive in design, often with the intention of preventing corporations from gaining too much wealth and power. New Jersey was the first state to adopt an "enabling" corporate law, with the goal of attracting more business to
11360-490: The corporate status of the entity (for example, "Incorporated" or "Inc." in the United States) or the limited liability of its members (for example, "Limited", "Ltd.", or "LLC"). These terms vary by jurisdiction and language. In some jurisdictions, they are mandatory, and in others, such as California, they are not. Their use puts everybody on constructive notice that they are dealing with an entity whose liability
11502-408: The corporation is determined by the portion of shares in the company that they own. Thus, a person who owns a quarter of the shares of a joint-stock company owns a quarter of the company, is entitled to a quarter of the profit (or at least a quarter of the profit given to shareholders as dividends) and has a quarter of the votes capable of being cast at general meetings. In another kind of corporation,
11644-632: The corporation is through stock, and owners of stock are referred to as stockholders or shareholders . Corporations not allowed to issue stock are referred to as non-stock corporations ; i.e. those who are considered the owners of a non-stock corporation are persons (or other entities) who have obtained membership in the corporation and are referred to as a member of the corporation. Corporations chartered in regions where they are distinguished by whether they are allowed to be for-profit are referred to as for-profit and not-for-profit corporations, respectively. Shareholders do not typically actively manage
11786-408: The corporation to designate its principal address, as well as a registered agent (a person or company designated to receive legal service of process). It may also be required to designate an agent or other legal representatives of the corporation. Generally, a corporation files articles of incorporation with the government, laying out the general nature of the corporation, the amount of stock it
11928-590: The country. The economy of West Bengal has witnessed many surprising changes in direction. The agricultural sector in particular rose to 8.33% in 2010–11 before tumbling to −4.01% in 2012–13. Many major industries such as the Uttarpara Hindustan Motors car manufacturing unit, the jute industry, and the Haldia Petrochemicals unit experienced shutdowns in 2014. In the same year, plans for a 300 billion Jindal Steel project
12070-603: The decades following the 1947 partition of India , transforming its landscape and shaping its politics. The early and prolonged exposure to British administration resulted in an expansion of Western education , culminating in developments in science, institutional education, and social reforms in the region, including what became known as the Bengali Renaissance . Several regional and pan−Indian empires throughout Bengal's history have shaped its culture , cuisine , and architecture . Post-Indian independence, as
12212-475: The districts of: Nadia, North 24 Parganas, Hooghly, Bardhaman and East Medinipur are ODF zones, with Nadia becoming the first ODF district in the state in April 2015. A study conducted in three districts of West Bengal found that accessing private health services to treat illness had a catastrophic impact on households. This indicates the importance of the public provision of health services to mitigate poverty and
12354-853: The earliest cities date back to the Vedic period . The region was part of several ancient pan−Indian empires, including the Vangas , Mauryans , and the Guptas . The citadel of Gauḍa served as the capital of the Gauda kingdom , the Pala Empire , and the Sena Empire . Islam was introduced through trade with the Abbasid Caliphate , but following the Ghurid conquests led by Bakhtiyar Khalji and
12496-520: The emperor. The concept of the corporation was revived in the Middle Ages with the recovery and annotation of Justinian's Corpus Juris Civilis by the glossators and their successors the commentators in the 11th–14th centuries. Particularly important in this respect were the Italian jurists Bartolus de Saxoferrato and Baldus de Ubaldis , the latter of whom connected the corporation to
12638-411: The end of British rule over the Indian subcontinent the Bengal Legislative Council and the Bengal Legislative Assembly voted on the Partition of Bengal along religious lines into two separate entities: West Bengal, which continued as an Indian state and East Bengal , a province of Pakistan , which came to be known be as East Pakistan and later became the independent Bangladesh . In 2011
12780-597: The entire Bengal region. Mosques , madrasas and khanqahs were built throughout these stages. During the Islamic Bengal Sultanate , founded in 1352, Bengal was a major world trading nation and was often referred by the Europeans as the richest country with which to trade. Later, in 1576, it was absorbed into the Mughal Empire . Subsequent Muslim conquests helped spread Islam throughout
12922-594: The entire south Bengal. The Corporation has a three-tier system of management which is, Depot, Division and Corporate. The entire operational network of the Corporation is carried out through its two Divisional headquarters – one located at Durgapur and other at Belghoria . At the Corporate level, the Deputy Managing Director, Chief Accounts Officers and HODs of other discipline assist
13064-422: The equivalent of unissued capital, where it is not classified as an asset on the balance sheet (passive capital). Under the internal affairs doctrine , the law of the jurisdiction in which a corporation is incorporated will govern its internal activities—that is, conflicts between shareholders and managers such as the board of directors and corporate officers. If a corporation operates outside its home state, it
13206-624: The establishment of the Delhi Sultanate , the Muslim faith spread across the entire Bengal region. During the Bengal Sultanate , the territory was a major trading nation in the world, and was often referred by the Europeans as the "richest country to trade with". It was absorbed into the Mughal Empire in 1576. Simultaneously, some parts of the region were ruled by several Hindu states , and Baro-Bhuyan landlords, and part of it
13348-424: The geographical area of West Bengal is protected land, comprising fifteen wildlife sanctuaries and five national parks— Sundarbans National Park , Buxa Tiger Reserve , Gorumara National Park , Neora Valley National Park and Singalila National Park . Extant wildlife includes Indian rhinoceros , Indian elephant , deer, leopard , gaur , tiger and crocodiles , as well as many bird species. Migratory birds come to
13490-460: The government's behalf, bringing in revenue from its exploits abroad. Subsequently, the company became increasingly integrated with English and later British military and colonial policy, just as most corporations were essentially dependent on the Royal Navy 's ability to control trade routes. Labeled by both contemporaries and historians as "the grandest society of merchants in the universe",
13632-661: The history of companies was the 1897 decision of the House of Lords in Salomon v. Salomon & Co. where the House of Lords confirmed the separate legal personality of the company, and that the liabilities of the company were separate and distinct from those of its owners. In the United States , forming a corporation usually required an act of legislation until the late 19th century. Many private firms, such as Carnegie 's steel company and Rockefeller 's Standard Oil , avoided
13774-469: The impact of illness on poor households. Corporation A corporation is an organization —usually a group of people or a company —authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes. Early incorporated entities were established by charter (i.e., by an ad hoc act granted by
13916-520: The inter-State routes like the present link with state of Jharkhand . Some inter-state routes on which the Corporation runs buses are Durgapur to Tata (Jamshedpur) via Bankura and Purulia, and Durgapur to Bokaro Steel City via Asansol and Dhanbad, Durgapur to Dumka via Suri. The Corporation has planned to contact some more areas in more States in the near future. SBSTC provides its services through two divisions, namely Durgapur and Belghoria. It has
14058-650: The landmark 1856 Joint Stock Companies Act . This was subsequently consolidated with a number of other statutes in the Companies Act 1862, which remained in force for the rest of the century, up to and including the time of the decision in Salomon v A Salomon & Co Ltd . The legislation shortly gave way to a railway boom, and from then, the numbers of companies formed soared. In the later nineteenth century, depression took hold, and just as company numbers had boomed, many began to implode and fall into insolvency. Much strong academic, legislative and judicial opinion
14200-619: The last independent Nawab, in the Battle of Plassey in 1757. The company gained the right to collect revenue in Bengal subah (province) in 1765 with the signing of the treaty between the East India company and the Mughal emperor following the Battle of Buxar in 1764. The Bengal Presidency was established in 1765; it later incorporated all British-controlled territory north of the Central Provinces (now Madhya Pradesh ), from
14342-425: The legal document which established the corporation or which contains its current rules will determine the requirements for membership in the corporation. What these requirements are depends on the kind of corporation involved. In a worker cooperative , the members are people who work for the cooperative. In a credit union , the members are people who have accounts with the credit union. The day-to-day activities of
14484-532: The lives of any particular member, existing in perpetuity. The alleged oldest commercial corporation in the world, the Stora Kopparberg mining community in Falun , Sweden , obtained a charter from King Magnus Eriksson in 1347. In medieval times , traders would do business through common law constructs, such as partnerships . Whenever people acted together with a view to profit, the law deemed that
14626-417: The members of their boards. In Canada, this possibility is taken to its logical extreme: many smaller Canadian corporations have no names at all, merely numbers based on a registration number (for example, "12345678 Ontario Limited"), which is assigned by the provincial or territorial government where the corporation incorporates. In most countries, corporate names include a term or an abbreviation that denotes
14768-476: The metaphor of the body politic to describe the state . Early entities which carried on business and were the subjects of legal rights included the collegium of ancient Rome and the sreni of the Maurya Empire in ancient India. In medieval Europe, churches became incorporated, as did local governments, such as the City of London Corporation . The point was that the incorporation would survive longer than
14910-400: The mid-2000s, armed activists conducted minor terrorist attacks in some parts of the state. Clashes with the administration took place at several controversial locations over the issue of industrial land acquisition. This became a decisive reason behind the defeat of the ruling Left Front government in the 2011 assembly election. Although the economy was severely damaged during the unrest in
15052-583: The mouths of the Ganges and the Brahmaputra to the Himalayas and the Punjab . The Bengal famine of 1770 claimed millions of lives due to tax policies enacted by the British company. Calcutta, the headquarters of the East India company, was named the capital of British-held territories in India in 1773. The failed Indian rebellion of 1857 started near Calcutta and resulted in a transfer of authority to
15194-474: The name Bengal ( Bangla and Bongo in Bengali ) is unknown. One theory suggests the word derives from "Bang", the name of a Dravidian tribe that settled the region around 1000 BCE. The Bengali word Bongo might have been derived from the ancient kingdom of Vanga (or Banga ). Although some early Sanskrit literature mentions the name Vanga , the region's early history is obscure. In 1947, at
15336-472: The name 'Bangla' may create confusion with neighbouring Bangladesh ). Stone Age tools dating back 20,000 years have been excavated in the state, showing human occupation 8,000 years earlier than scholars had thought. According to the Indian epic Mahabharata the region was part of the Vanga kingdom. Several Vedic realms were present in the Bengal region, including Vanga , Rarh , Pundravardhana and
15478-602: The national average of 74.7 km/km (120.2 mi/sq mi). As of 2011, the total railway route length was around 4,481 km (2,784 mi). Kolkata is the headquarters of three zones of the Indian Railways — Eastern Railway and South Eastern Railway and the Kolkata Metro, which is the newly formed 17th zone of the Indian Railways. The Northeast Frontier Railway (NFR) serves
15620-512: The northern parts of the state. The Kolkata metro is the country's first underground railway. The Darjeeling Himalayan Railway , part of NFR, is a UNESCO World Heritage Site . Netaji Subhas Chandra Bose International Airport at Dum Dum , Kolkata, is the state's largest airport. Bagdogra Airport near Siliguri is a customs airport that offers international service to Bhutan and Thailand, besides regular domestic service. Kazi Nazrul Islam Airport , India's first private sector airport, serves
15762-479: The offing to revive the economy. West Bengal has been able to attract 2% of the foreign direct investment in the last decade. As of 2011, the total length of surface roads in West Bengal was over 92,023 kilometres (57,180 miles); national highways comprise 2,578 km (1,602 mi) and state highways 2,393 km (1,487 mi). As of 2006, the road density of the state was 103.69 kilometres per square kilometre (166.87 miles per square mile), higher than
15904-412: The percentage share of Gross Value Added (GVA) at factor cost by economic activity at the constant price (the base year 2011–2012) was Agriculture-Forestry and Fishery—4.84%, Industry 18.51% and Services 66.65%. It has been observed that there has been a slow but steady decline in the percentage share of industry and agriculture over the years. Agriculture is the leading economic sector in West Bengal. Rice
16046-409: The provisional results of the 2011 national census, West Bengal is the fourth-most-populous state in India with a population of 91,347,736 (7.55% of India's population). The state's 2001–2011 decennial population growth rate was 13.93%, lower than the 1991–2001 growth rate of 17.8% and lower than the national rate of 17.64%. The gender ratio is 947 females per 1,000 males. As of 2011, West Bengal had
16188-411: The public or on other third-parties. Such critics note that the legal mandate of the corporation to focus exclusively on corporate profits and self-interest often victimizes employees, customers, the public at large, and/or the natural resources . The political theorist David Runciman notes that corporate personhood forms a fundamental part of the modern history of the idea of the state , and believes
16330-606: The region for four hundred years beginning in the 8th century. A shorter reign of the Hindu Sena dynasty followed. Rajendra Chola I of the Chola dynasty invaded some areas of Bengal between 1021 and 1023. Islam was introduced through trade with the Abbasid Caliphate . Following the Ghurid conquests led by Muhammad bin Bakhtiyar Khalji and the establishment of the Delhi Sultanate , it spread across
16472-610: The region. It was ruled by dynasties of the Bengal Sultanate and feudal lords under the Delhi Sultanate for the next few hundred years. The Bengal Sultanate was interrupted for twenty years by a Hindu uprising under Raja Ganesha . In the 16th century, Mughal general Islam Khan conquered Bengal. Administration by governors appointed by the court of the Mughal Empire gave way to semi-independence under
16614-491: The river by a feeder canal. Its water flow management has been a source of lingering dispute between India and Bangladesh. The Teesta , Torsa , Jaldhaka and Mahananda rivers are in the northern hilly region. The western plateau region has rivers like the Damodar, Ajay and Kangsabati . The Ganges delta and the Sundarbans area have numerous rivers and creeks. Pollution of the Ganges from indiscriminate waste dumped into
16756-509: The river is a major problem. Damodar , another tributary of the Ganges and once known as the "Sorrow of Bengal" (due to its frequent floods), has several dams under the Damodar Valley Project . At least nine districts in the state suffer from arsenic contamination of groundwater , and as of 2017 an estimated 1.04 crore people were afflicted by arsenic poisoning. West Bengal's climate varies from tropical savanna in
16898-407: The same names, a corporate name is a unique identifier only when combined with the name of the state of incorporation". This explains why lawyers in legal papers often expressly refer to a corporation's state of incorporation after the first mention of its name. Some jurisdictions do not allow the use of the word " company " alone to denote corporate status, since the word " company " may refer to
17040-431: The selling of publicly owned (or 'nationalised') services and enterprises to corporations. Deregulation (reducing the regulation of corporate activity) often accompanied privatization as part of a laissez-faire policy. A corporation is, at least in theory, owned and controlled by its members. In a joint-stock company the members are known as shareholders, and each of their shares in the ownership, control, and profits of
17182-788: The southern part of the state, especially in the Sundarbans area. Kolkata is the only city in India to have trams as a mode of transport; these are operated by the Calcutta Tramways Company. Several government-owned organisations operate bus services in the state, including: the Calcutta State Transport Corporation , the North Bengal State Transport Corporation , the South Bengal State Transport Corporation ,
17324-407: The southern portions to humid subtropical in the north. The main seasons are summer, the rainy season, a short autumn and winter. While the summer in the delta region is noted for excessive humidity, the western highlands experience a dry summer like northern India. The highest daytime temperatures range from 38 to 45 °C (100 to 113 °F). At night, a cool southerly breeze carries moisture from
17466-458: The state during the winter. The high-altitude forests of Singalila National Park shelter barking deer , red panda , chinkara , takin , serow , pangolin , minivet and kalij pheasants . The Sundarbans are noted for a reserve project devoted to conserving the endangered Bengal tiger , although the forest hosts many other endangered species such as the Gangetic dolphin , river terrapin and estuarine crocodile. The mangrove forest also acts as
17608-448: The state is 16,847 km (6,505 sq mi), while in 2013, forest area was 16,805 km (6,488 sq mi), which was 18.93% of the state's geographical area, compared to the then national average of 21.23%. Reserves and protected and unclassed forests constitute 59.4%, 31.8% and 8.9%, respectively, of forested areas, as of 2009. Part of the world's largest mangrove forest, the Sundarbans in southern West Bengal. From
17750-466: The state's healthcare system was severely criticised in the aftermath of the West Bengal blood test kit scam . West Bengal is on the eastern bottleneck of India , stretching from the Himalayas in the north to the Bay of Bengal in the south. The state has a total area of 88,752 square kilometres (34,267 sq mi). The Darjeeling Himalayan hill region in the northern extreme of the state
17892-500: The state, and they can themselves be responsible for human rights violations. Corporations can be "dissolved" either by statutory operation, the order of the court, or voluntary action on the part of shareholders. Insolvency may result in a form of corporate failure, when creditors force the liquidation and dissolution of the corporation under court order, but it most often results in a restructuring of corporate holdings. Corporations can even be convicted of special criminal offenses in
18034-581: The state, in 1896. In 1899, Delaware followed New Jersey's lead with the enactment of an enabling corporate statute, but Delaware only became the leading corporate state after the enabling provisions of the 1896 New Jersey corporate law were repealed in 1913. The end of the 19th century saw the emergence of holding companies and corporate mergers creating larger corporations with dispersed shareholders. Countries began enacting antitrust laws to prevent anti-competitive practices and corporations were granted more legal rights and protections. The 20th century saw
18176-604: The twin cities of Asansol-Durgapur at Andal , Paschim Bardhaman . Kolkata is a major river port in eastern India. The Kolkata Port Trust manages the Kolkata and the Haldia docks. There is passenger service to Port Blair on the Andaman and Nicobar Islands . Cargo ship service operates to ports in India and abroad, operated by the Shipping Corporation of India . Ferries are a principal mode of transport in
18318-539: The world. As a part of the Bengal region of the Indian subcontinent , it borders Bangladesh in the east, and Nepal and Bhutan in the north. It also borders the Indian states of Jharkhand , Odisha , Bihar , Sikkim and Assam . The state capital is Kolkata , the third-largest metropolis , and seventh largest city by population in India. West Bengal includes the Darjeeling Himalayan hill region ,
18460-624: Was Shashanka , who reigned in the early 7th century. Shashanka is often recorded in Buddhist annals as an intolerant Hindu ruler noted for his persecution of the Buddhists. He murdered Rajyavardhana , the Buddhist king of Thanesar , and is noted for destroying the Bodhi tree at Bodhgaya , and replacing Buddha statues with Shiva lingams . After a period of anarchy, the Pala dynasty ruled
18602-528: Was 19.98%, a decline from 31.8% a decade prior. Scheduled castes and tribes form 28.6% and 5.8% of the population, respectively, in rural areas and 19.9% and 1.5%, respectively, in urban areas. In September 2017, West Bengal achieved 100% electrification, after some remote villages in the Sunderbans became the last to be electrified. As of September 2017, of 125 towns and cities in Bengal, 76 have achieved open defecation free (ODF) status. All towns in
18744-416: Was 9.8% in 1980–1981, declining to 5% by 1997–1998. In contrast, the service sector has grown at a rate higher than the national rate. The state's total financial debt stood at ₹ 1,918,350 million (US$ 23 billion) as of 2011. In the period 2004–2010, the average gross state domestic product (GSDP) growth rate was 13.9% (calculated in Indian rupee terms) lower than 15.5%, the average for all states of
18886-632: Was briefly overrun by the Suri Empire . Following the death of Emperor Aurangzeb in the early 1700s, the proto-industrialised Mughal Bengal became a semi-independent state under the Nawabs of Bengal , and showed signs of the first Industrial Revolution . The region was later annexed into the Bengal Presidency by the British East India Company after the Battle of Buxar in 1764. From 1772 to 1911, Calcutta
19028-408: Was integrated into West Bengal; portions of Bihar were also subsequently merged with West Bengal. Both West and East Bengal experienced large influxes of refugees during and after the partition in 1947. Refugee resettlement and related issues continued to play a significant role in the politics and socio-economic condition of the state. During the 1970s and 1980s, severe power shortages, strikes and
19170-550: Was limited liability. Limited liability separates control of a company from ownership and means that a passive shareholder in a corporation will not be personally liable either for contractually agreed obligations of the corporation, or for torts (involuntary harms) committed by the corporation against a third party (acts done by the controllers of the corporation). Where local law distinguishes corporations by their ability to issue stock , corporations allowed to do so are referred to as stock corporations ; one type of investment in
19312-659: Was mothballed. The tea industry of West Bengal has also witnessed shutdowns for financial and political reasons. The tourism industry of West Bengal was negatively impacted in 2017 because of the Gorkhaland agitation. However, over the years due to effective changes in the stance towards industrialisation, ease of doing business has improved in West Bengal. Steps are being taken to remedy this situation by promoting West Bengal as an investment destination. A leather complex has been built in Kolkata. Smart cities are being planned close to Kolkata, and major roadway projects are in
19454-484: Was opposed to the notion that businessmen could escape accountability for their role in the failing businesses. In 1892, Germany introduced the Gesellschaft mit beschränkter Haftung with a separate legal personality and limited liability even if all the shares of the company were held by only one person. This inspired other countries to introduce corporations of this kind. The last significant development in
19596-589: Was partitioned along religious lines. The western part went to the Dominion of India and was named West Bengal. The eastern part went to the Dominion of Pakistan as a province called East Bengal (later renamed East Pakistan in 1956), becoming the independent nation of Bangladesh in 1971. In 1950 the Princely State of Cooch Behar merged with West Bengal. In 1955 the former French enclave of Chandannagar , which had passed into Indian control after 1950,
19738-454: Was possible only through a royal charter or a private act and was limited, owing to Parliament's jealous protection of the privileges and advantages thereby granted. As a result, many businesses came to be operated as unincorporated associations with possibly thousands of members. Any consequent litigation had to be carried out in the joint names of all the members and was almost impossibly cumbersome. Though Parliament would sometimes grant
19880-534: Was recognised by the same magazine more than 70 years later, when it claimed that, "[t]he economic historian of the future... may be inclined to assign to the nameless inventor of the principle of limited liability, as applied to trade corporations, a place of honour with Watt and Stephenson , and other pioneers of the Industrial Revolution. " These two features – a simple registration procedure and limited liability – were subsequently codified into
20022-546: Was the capital of all of East India Company's territories and then the capital of the entirety of India after the establishment of the Viceroyalty . From 1912 to India's Independence in 1947, it was the capital of the Bengal Province . The region was a hotbed of the Indian independence movement and has remained one of India's great artistic and intellectual centres. Following widespread religious violence ,
20164-417: Was the first speculative bubble the country had seen, but by the end of 1720, the bubble had "burst", and the share price sank from £1,000 to under £100. As bankruptcies and recriminations ricocheted through government and high society, the mood against corporations and errant directors was bitter. In the late 18th century, Stewart Kyd , the author of the first treatise on corporate law in English, defined
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