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.
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In exercise of the powers conferred by clause (31) of section 2, section 73 and section 76 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), and in supersession of the Companies (Acceptance of Deposits) Rules, 1975 or any other rules prescribed under the Companies Act, 1956 (1 of 1956) on matters covered under these rules except as respects things done or omitted to be done before such supersession,
In exercise of the powers conferred by sub-section (2) of section 123read with sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following alterations to Schedule II to the said Act, namely:-
Meetings of Board through video conferencing or other audio visual means.- A company shall comply with the following procedure, for convening and conducting the Board meetings through video conferencing or other audio visual means.
Woman director on the Board.- The following class of companies shall appoint at least one woman director- (i) every listed company; (ii) every other public company having – (a) paid–up share capital of one hundred crore rupees or more; or (b) turnover of three hundred crore rupees or more:
The Audit Committee of the company or the Board shall, in consultation with the Internal Auditor, formulate the scope, functioning, periodicity and methodology for conducting the internal audit.
Declaration of dividend out of reserves.- In the event of adequacy or absence of profits in any year, a company may declare dividend out of surplus subject to the fulfillment of the following conditions, namely:-
Register of members.- (1) Every company limited by shares shall, from the date of its registration, maintain a register of its members in Form No. MGT.1: Provided that in the case of existing companies, registered under the Companies Act, 1956, particulars shall be compiled within six months from the date of commencement of these rules.
Registration of creation or modification of charge. (1) For registration of charge as provided in sub-section (1) of section 77, section 78 and section 79, the particulars of the charge together with a copy of the instrument, if any, creating or modifying the charge in Form No.CHG-1 (for other than Debentures) or Form No.CHG-9
The Board of Directors shall, inter alia, disclose in the Board’s Report for the financial year in which the issue of equity shares with differential rights was completed, the following details, namely.
Chapter III – The Companies (Prospectus and Allotment of Securities) Rules, 2014 – Information to be stated in the prospectus.- (1) The Prospectus to be issued shall contain- (a) the names, addresses and contact details of the corporate office of the issuer company, compliance officer of the issuer company,
