What is the difference between Companies Act 1956 and Companies Act, 2013?
The Companies Act, 1956 (existing Act) contains 658 sections and XV schedules. The Companies Act 2013 has 464 sections and 7 schedules. The Act, has lesser sections as the Companies will be governed more through the rules which are yet to be prescribed.
How many sections are there in Companies Act, 2013?
470 sections
The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules.
What are the major changes in Companies Act, 2013?
1) Mandatory Registration of NGO’s with MCA for raising CSR Funds. 3) Minimum Offer period for Right offer reduced from 15 days to now 7 days. 5) Abridged Annual return for OPC and small companies in Form MGT-7A.
What is Section 180 of Companies Act 2013?
Section 180 of the companies act, 2013, restricts the power of board of directors. Board can exercise some powers only with the consent of the company by a special resolution. (i) “undertaking” shall mean an undertaking in which the investment of the company exceeds twenty per cent.
How many sections are there in the Companies Act 1956?
658 sections
The Companies Act 1956 is administered by the Government of India through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc. The Act is 658 sections long.
What is Section 62 of Companies Act, 2013?
(1) Where any Government by virtue of provisions of sub-section (4) of section 62, in public interest, converts the debentures or loan or any part thereof into shares in the company on such terms and conditions as appear to the Government to be reasonable in the circumstances of the case even in terms of the issue of …
How many sections are there in Companies Act 1956?
Companies Act 1956 was separated into 13 parts having 658 sections, along with 15 schedules where as Companies Act 2013 has been divided into 29 chapters along with 470 sections and 7 schedules.
What is Section 10 of Companies Act, 2013?
The Companies Act, 2013
| Section No. | Section Name |
|---|---|
| 8 | Formation of companies with charitable objects, etc |
| 9 | Effect of registration |
| 10 | Effect of memorandum and articles |
| 11 | Commencement of business, etc |
What is Section 23 of Companies Act, 2013?
Section 23 (1) A public company may issue securities- (a) to public through prospectus (herein referred to as “public offer”) by complying with the provisions of this Part; or (b) through private placement by complying with the provisions of Part II of this Chapter; or (c) through a rights issue or a bonus issue in …
Under which section of Companies Act, 2013 a company can buyback its own shares?
Section 68
As per Section 68 of the Companies Act, 2013 the conditions for Buy-back of shares are: Authorization for Buy-Back: Articles of Association(AOA) of the company should authorize Buy-Back, if no provision in AOA then first alter the AOA.
What is section 394 of Companies Act 2013?
Section 394 of Companies Act, 2013 – Annual reports on Government companies 1 (1) Where the Central Government is a member of a Government company, the Central Government shall cause an annual… 2 (2) Where in addition to the Central Government, any State Government is also a member of a Government company, that… More
What are the provisions of section 394394?
394. Provisions for facilitating reconstruction and amalgamation of companies. (a) that the compromise or arrangement has been proposed for the purposes of, or in connection with, a scheme for the reconstruction of any company or companies, or the amalgamation of any two or more companies; and
What is section 394 of the Indian Constitution?
SECTION 394. ANNUAL REPORTS ON GOVERNMENT COMPANIES (1) Where the Central Government is a member of a Government company, the Central Government shall cause an annual report on the working and affairs of that company to be—
What are the sections of the Companies Act of 1956?
Sections of Companies Act, 1956 Corresponding sections of Companies Act, 2013 10FB Constitution of National Company Law Tribunal 408 Constitution of National Company Law Tribunal 10FC Composition of Tribunal 408 Constitution of National Company Law Tribunal 10FD Qualifications for appointment of President and Members 409