What is company Act 2013 and its features?
What is company Act 2013 and its features?
The major highlights of the 2013 Act are given below: The maximum number of shareholders for a private company is 200 (the previous cap was at 50). The concept of a one-person company. Company Law Appellate Tribunal & Company Law Tribunal. CSR made mandatory.
What is the difference between Companies Act 1956 and 2013?
In Companies Act 1956, only public financial institution, public sector banks or scheduled bank with main object of financing were allowed to issue there shelf prospectus but now Companies Act 2013 provides that the government shall prescribe the types of companies that can issue shelf prospectus.
What is company under company Act 2013?
In terms of the Companies Act, 2013 a “company” means a company incorporated under this Act or under any previous company law [Section 2 (68)] In common law, a company is a “legal person” or “legal entity” separate from, and capable of surviving beyond the lives of its members.
What are the legal requirements as per Companies Act, 2013?
Following is a list of all such required compliances under Companies Act, 2013:
- Verification of Registered Office.
- Display company information.
- First Board Meeting.
- Appointment of auditor.
- Share Certificate Issuance.
- Disclosure of interest by Directors.
- Maintenance of Minutes.
- Maintenance of Statutory Registers.
Why was Companies Act, 2013 introduced?
The new law is aimed at easing the process of doing business in India and improving corporate governance by making companies more accountable. The 2013 Act also introduces new concepts such as one – Person Company, small company, dormant company and corporate social responsibility (CSR) etc.
Which companies are registered by the Companies Act 2013?
Statutory Companies : These companies are constituted by a special Act of Parliament or State Legislature.
Who can be a member of a company under Companies Act, 2013?
Shareholders are otherwise known as the members of a company. Under the Companies Act, 2013, any person can become a shareholder and a person could mean an individual, body corporate, an association or a company irrespective of its incorporation.
What are the main changes introduced by Companies Act, 2013?
Major Changes brought by the. Companies Act, 2013.
How many times Companies Act, 2013 has been amended?
The Companies Act, 2013 has undergone amendments in 2015, 2017, 2019 and by Amendment Act, 2020.
What are different types of company?
A company can be a “corporation, partnership, association, joint-stock company, trust, fund, or organized group of persons, whether incorporated or not, and (in an official capacity) any receiver, trustee in bankruptcy, or similar official, or liquidating agent, for any of the foregoing”
How many types of companies are there?
Based on the mode of incorporation of the company; 3 types of companies are (1) chartered Or royal chartered companies, (2) registered Or incorporated companies, and (3) unregistered company.