The Companies Act 2013 is a crucial legislation in India governing the incorporation, functioning, and management of companies. Learn about the key provisions, compliance requirements, and legal framework under the Companies Act 2013.
Company Law : The article explains the legal framework governing debenture issuance under the Companies Act, 2013. It outlines the types of debe...
Company Law : Section 42 of the Companies Act, 2013 permits companies to raise funds from a select group of investors through private placement....
Company Law : The 2025 amendments significantly expand the scope of fast-track mergers by allowing more categories of companies, including eligi...
Company Law : The article explains the legal framework governing share capital and share issuance under the Companies Act, 2013. It highlights h...
Company Law : The article explains how Section 118 mandates the preparation and preservation of meeting minutes to ensure transparency and accou...
Company Law : The MCA has widened CSR eligibility by recognizing subscriptions to Zero Coupon Zero Principal Instruments as a valid CSR activity...
Company Law : Provisional list of audit firms of listed companies yet to file NFRA-2 for 2023-24. Filing deadline was 30.11.2025; fines apply fo...
Company Law : ICSI recommended restoring public access to basic company master data without mandatory login requirements. The representation sta...
Company Law : NFRA introduced guidelines to evaluate audit firms’ compliance and quality control systems. The framework emphasizes governance,...
Company Law : The issue is ambiguity in filing authority during liquidation. ICSI has requested clarity to enable liquidators to maintain statut...
Company Law : Section 7 insolvency application filed by State Bank of India (SBI) was admitted against Martina Bio Genics Private Limited and he...
Company Law : The NCLT Allahabad Bench dispensed with shareholder meetings after finding that all shareholders had consented to the proposed red...
Company Law : NCLT Kochi held that shareholders have a statutory right to convene an EGM and remove directors through ordinary resolution if leg...
Company Law : The Bombay High Court held that statements made in Special Notices for removal of a director under the Companies Act formed part o...
Company Law : The Court held that a shareholder holding requisite voting strength has a statutory right under Section 169 to convene an extraord...
Company Law : The MCA has amended the valuation rules to require Registered Valuer Organisations to maintain a minimum paid-up capital of ₹25 ...
Company Law : The Registrar of Companies penalized the company and its authorized signatory after an incorrect document was attached with Form A...
Company Law : MCA amends Schedule VII of the Companies Act to include subscription to zero coupon zero principal instruments on Social Stock Exc...
Company Law : MCA has amended the CSR Rules to recognize zero coupon zero principal instruments issued by Social Stock Exchange-listed NPOs. The...
Company Law : ROC Mumbai held that repeated return of official notices proved non-maintenance of a registered office under Section 12(1) of the ...
Many CA firms including big Firms may lose audit of Companies providing utility service providers & other companies due to the certain new impractical disqualifications inserted in the new Companies Act. Sec 141(3) of the Companies Act, 2013
Many CA firms including big Firms may lose audit of Companies due to the certain new impractical disqualifications inserted in the new Companies Act. Sec 141(3) of the Companies Act, 2013 states that the following persons shall not be eligible for appointment as an auditor of a company
It is generally said by every expert that an auditor will be removed under new company Law only after obtaining previous approval of central Govt. Sec 140(1) confirms this. However, in my opinion an auditor can be removed under new company Law without obtaining previous approval of central Govt also .
Third proviso to section 123(1) of the 2013 Act provides that no dividend shall be declared or paid by a company from its reserves other than free reserves. Rule 8.1 – A company may declare dividend out of the accumulated profits earned by it in previous years and transferred by it to the reserves, in the event of inadequacy or absence of profits in any year, subject to the fulfillment of the following conditions :
Section 128 of the Companies Act, 2013 provides for Maintenance of books of accounts under the new Companies Act. The erstwhile corresponding section 209 on Books of accounts to be kept by company of Companies Act, 1956 dealt with the books of accounts required to be maintained to give a true and fair view of the state of affairs of the company or branch office and to explain its transactions and also specify the place of keeping and period for which such books to be kept by the company.
Section 188 of the Companies Act, 2013 has been inserted in place of section 297 of the Companies Act, 1956. In previous law, it was mandatory to take Central Government approval for any transactions which was covered under section 297 of the Companies Act, 1956 where the paid up capital of the company was more than Rs. 1 cr.
Many corporate including Pvt Ltd Cos have other related group companies and they transfer money to & from other company as and when require. Stop doing this, even retrospectively from 12th September, 2013 as these can be treated as interest free loan u/s 185 of new company law.
Now, The Company may keep its BOA or other relevant papers in electronic form. The CG may direct that the BOA may be kept for a longer period in case of a company under inspection
Today i.e. October 23, 2013 is the last date for submission of suggestions/ comments for the 2nd tranche of Draft Rules being framed under the Companies Act, 2013. Earlier, the Ministry of Corporate Affairs had extended the date by 4 days to 23rd October 2013.
a) Private company can have a maximum of 200 members (earlier limit was upto 50). (Clause 2(68)). b) The maximum limit of directors in the Company has been increased to 15 with a power to add more directors upon passing of Special Resolution without taking CG approval as earlier required. One director can also form a company .
