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Companies Act 2013

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The Companies Act, 2013
Parliament of India
  • An Act to consolidate and amend the law relating to companies.
CitationAct No. 18 of 2013
Territorial extentIndia
Enacted byParliament of India
Assented to29 August 2013
Signed29 August 2013
Commenced12 September 2013 (98 sections)
1 April 2014 (184 sections)
Legislative history
Bill titleThe Companies Bill, 2012
Bill citationBill No. 121-C of 2011
Repeals
The Companies Act, 1956

Companies Act, 2013 is an Act of the Parliament of India which regulates incorporation of a company, responsibilities of a company, directors, dissolution of a company. The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules.[1]The Act has replaced The Companies Act, 1956 (in a partial manner) after receiving the assent of the President of India on 29 August 2013. The Act came into force on 12 September 2013 with few changes like earlier private companies maximum number of member was 20 and now it will be 50. A new term of "one person company" is included in this act that will be a private company and with only 98 provisions of the Act notified.[2][3] On 27 February 2014, the MCA stated that Section 135 of the Act which deals with corporate social responsibility will come into effect from 1 April 2014. On 26 March 2014, the MCA stated that another 183 sections will be notified from 1 April 2014.[4]

The Ministry of Company Affairs thereafter proposed a draft notification for exempting private companies from the ambit of various sections under the companies act. [5]

New Concepts

  • One Person Companies (opc)[6]
  • Women Directors
  • Corporate Social Responsibility
  • Registered Valuers
  • Rotation of Auditors
  • Class Action
  • Dormant Company
  • Fast Track Mergers
  • Serious Fraud Investigation Office

See also

References

  1. ^ Prasad, Suresh. "Complete list of Sections of Companies Act, 2013". AUBSP. Retrieved 12 September 2014.
  2. ^ "Commencement Notification Of Companies Act 2013" (PDF). Ministry of Corporate Affairs, India. Retrieved 11 January 2014.
  3. ^ Varma, Sindhu. "India: New Companies Act, 2013 – The Cat Is Finally Out". Mondaq. Retrieved 27 March 2014.
  4. ^ "MCA notifies 183 sections of Companies Act 2013". Business Standards. 26 March 2014. Retrieved 27 March 2014.
  5. ^ http://www.companiesact.in/Companies-Act-2013/News-Details/545/%20MCA%20lays%20draft%20notification%20us%20462%20for%20Private%20Companies%20in%20Parliament
  6. ^ https://www.icsi.edu/portals/70/516102013.pdf
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