Definition of companies act: an act of parliament which regulates the workings of companies, stating the legal limits within which companies may do their. A comprehensive commentary with faqs on selected issues under companies act, 2013 also incorporating new concepts in companies act, 2013.
As per second proviso to section 149(1) read with rule 3 of the companies ( appointment and qualification of directors) rules, 2014 (chapter. The companies act 2013 requires that one-third of a company's board comprise independent directors, and that at least one board member be.
In the companies act 2013, india's parliament incorporated a provision allowing for the “compounding” of offenses “compounding” is a way for. Pursuant to section 434 (1) (c) of the companies act, 2013 (“the act”) provides that on a date which may be notified by the central government. The companies act, 2013 passed by the parliament has received the assent of the president of india on 29th august, 2013 this an act to consolidate and.
Chapter ii incorporation of company and matters incidental thereto 3 formation of company 4 memorandum 5 articles. The companies act 2013 is an act of the parliament of india on indian company law which regulates incorporation of a company, responsibilities of a company,. A streamlined framework for rectification of a company name is now available under the companies act 2013 under the new act, the.
Section 406 of the companies act 2013 talks about nidhi companies which are companies incorporated with the object of cultivating the habit. The president of india accorded his assent to the companies (amendment) act, 2017 (the amendment act) on 3 january 2018 the central.
By raj barot and mehul modi the companies act, 2013 ushered in a host of sweeping changes that will set the tone for modern legislation that. Section 2(62) of the companies act, 2013 (“act”) defines opc as a company which has only one person as a member legal nature of opc. The ministry of corporate affairs ('mca') vide its circular in november 2013 had clarified that section 372a of the companies act, 1956, would.