What is Indian Companies Act, 2013?

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, directors, dissolution of a company.

What is company as per Companies Act, 2013?

Meaning of a Company However, Section 2(20) of the Companies Act, 2013, defines the term ‘Company’ as follows: “Company means a company incorporated under this Act or under any previous company law.”

When was the first Indian company Act passed?

1866
Under this Act the concept of limited liability was introduced for the first time in India. Thereafter the Companies Act was passed in the year 1866….

Which government enterprise is registered under Indian Companies Act 1956?

A public enterprise incorporated under the Indian Companies Act, 1956 is called a government company. These companies are owned and managed by the central or the state government. These companies are registered as private limited companies though their management and their control vest with the government.

Why do we need Company Act 2013?

Ans. The Companies Act 2013 was introduced to ease the process of doing business in India and improving corporate governance. Another factor behind the introduction of Companies Act 2013 was to make companies more accountable.

Which company is not required to hold AGM?

All companies except one person company (OPC) should hold an AGM after the end of each financial year. A company must hold its AGM within a period of six months from the end of the financial year.

What are the key features of company Act 2013?

Key Highlights of Indian Companies Act 2013 The maximum number of members (shareholders) permitted for a Private Limited Company is increased to 200 from 50. One-Person company. Section 135 of the Act which deals with Corporate Social Responsibility. Company Law Tribunal and Company Law Appellate Tribunal.

Which is the latest company act?

The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013.

Is Companies Act 1956 still valid?

Companies Act, 1956 stands Repealed from 30 January 2019: MCA Notification. MCA has notified that provisions of Section 465 of the Companies Act, 2013 would partially come into force with effect from 30 Jan.

Can a government company be a small company?

It must be noted that a public company, a subsidiary of another company, Section 8 company or a company governed under any Special Act will by default not be recognised as a small company regardless of the above criteria.

Can AGM be held without accounts?

You could hold the annual general meeting without laying the accounts, then lay the accounts later at a general meeting. The AGM could be opened then adjourned to a later date when the accounts will be ready. This does comply with the law, but of course it can only be done with the consent of the members.

Who may call extraordinary general meeting?

Answers: The members/shareholders of a company can call for an extraordinary general meeting. However, only certain members with a significant stake in the company are allowed to call for an EGM.

When did the Indian Companies Act come into force?

1. Short Title, Commencement And Extent (1) This Act may be called the Indian Companies Act, 1913. (2) It shall come into force on the first day of April 1911; and (3) It extends to the whole of British India including British Baluchistan and the Sambhal Parganas. 2. Definitions.

What was the Indial Act no.vii of 1913?

ACT No. VII of 1913. [Passed By the Governor General of India in Council.] [Received the assent of the Governor General on the 27thMarch, 1913.] An Act to Consolidate and Amend the law relating to Trading Companies and other Associations.

What are the different provisions of the Companies Act?

Different provisions of the Companies ( Section Contains Search in   Chapter I Preliminary Section 1 & 2 Chapter II Incorporation of Company and Section 3 to 22 Chapter III Part – I Prospectus and Allo Section 23 to 41