The Companies Act

The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013. The Act consolidates and amends the law relating to companies. The Companies Act, 2013 has been notified in the Official Gazette on 30th August, 2013. Some of the provisions of the Act have been implemented by a notification published on 12th September, 2013. The provisions of Companies Act, 1956 is still in force

Click here  to view Companies Act, 2013 Sectionwise/Chapterwise Or search within the act.

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Table containing provisions of Companies Act, 2013 as notified up to date and corresponding provisions there of under Companies Act, 1956 is available for ready reference. (329 KB)

Read the complete Act :Companies Act, 2013eBook Companies Act, 2013 Producer Company (114 KB)**

Provisions of Part IX A of the Companies Act, 1956 shall be applicable mutatis mutandis to a Producer Company in a manner as if the Companies Act, 1956 has not been repealed. (Ref. section 465 of Companies Act, 2013) (114 KB)

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Read the complete Act :Companies Act, 1956(2.9MB)


Companies Act commencement and its applications:

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  • This Act known as Companies Act 2013 earlier it was Companies Act 1956
  • It is applicable to whole of the India
  • The provisions of the act applies to :
    • Companies Incorporated
    • Insurance Companies except where  provisions of IRDA,1999 is applicable
    • Banking companies except where the provisions of Banking Regulation Act 1949 is inconsistent.
    • Companies engaged in the generation or supply of electricity, except in so far as the said provisions are inconsistent with the provisions of the Electricity Act, 2003
    • any other company governed by any special Act for the time being in force, except in so far as the said provisions are inconsistent with the provisions of such special Act; and
    • such body corporate, incorporated by any Act for the time being in force, as the Central Government may, by notification, specify in this behalf, subject to such exceptions, modifications or adaptation, as may be specified in the notification.
  • Act covers various chapters, provisions along with its rules.
  • Act guides on matters related to incorporation of Companies, private placements, merger, acquisitions , deposits, charges ,managements, dividends ,accounts , audit, directors , meeting, inspections, winding up, Nidhi , NCLT  etc

Companies Act 2013

The Companies Act 2013 regulates the Companies, LLPs or other Corporations in India for their formulations and functioning. It consists of 29 chapters, 470 sections and 7 schedules. The Act keeps on amended multiple times for proper regulations. The companies Act is replaced by Companies Act 1956, whose some provisions are still apply along with the provisions of Companies Act 2013. The Companies Act 2013 was introduced on 30th August 2013.

The Ministry of Corporate Affairs (MCA) administers the following acts of the Central Government;

  1. Companies Act, 2013
  2. Companies Act, 1956
  3. Competition Act, 2002
  4. The Insolvency & Bankruptcy Code, 2016
  5. The Charted Accountant Act, 1949

Highlights of Companies Act 2013 :

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  1. Section 135 of corporate social responsibility (CSR)is mandatory
  2. Increased the number of shareholders of the private company to 200
  3. Introduced the One person Company
  4. Company Law Appellate Tribunal & Company Law Tribunal
  5. Introduced the Dormant Company
  6. Required Documentation in Electronic forms
  7. Introduced the National Company Law Tribunal
  8. mergers and amalgamations becomes simpler
  9. Increased the adjudicatory powers of Official liquidators
  10.  Becomes mandatory for public companies to have independent directors.
  11.  Appointing women Directors also becomes compulsory for few classes
  12.  Requirement of at least 7 days of notice for calling board meetings.
  13. Listed companies ought to have one director to represent small shareholders as well.
  14. Setting up of the National Financial Reporting Authority (NFRA)
  15. Introduce a new concept of Class action suits
  16.  Provides the option of Entrenchment in Articles of Association
  17.  Provides rotation of auditors and audit firms wherever applicable
  18. Rehabilitation and Liquidation Process becomes time bound.
  19. Prohibition on forward dealings and insider trading