companies act 1956

Companies Act 2013 Vs Companies Act 1956

Oct 29, 2013The Companies Act, 2013 has been passed by LokSabha as well as RajyaSabha and the President has given his consent to the same in August 2013. 98 sections of the Act, have come into force. 2 sets of the draft rules have also been circulated. The Companies Act, 1956 (existing Act) contains 658 sections and XV schedules. Get price

Companies Act

(3) Nothing in this Act shall affect the Table in any repealed written law corresponding to Table A in the Fourth Schedule in force immediately before the date of commencement of section 181 of the Companies (Amendment) Act 2014 or any part thereof (either as originally enacted or as altered in pursuance of any statutory power) or the corresponding Table in any former written law relating to Get price

Board Resolutions for Approval of Annual Financial

Mar 31, 20141. To consider and take on record balance sheet, profit loss account and cash flow statement of the company for the financial year ended 31 st March, 2014 as recommended by the Audit Committee The Financial Statements of the Company for the year Financial Year ended March 31, 2014 as reviewed and recommended by the Audit Committee were placed before the Meeting for the Get price

Difference Between Members and Shareholders (with

Mar 30, 2015The term member is defined under section 2 (55) of the Indian Companies Act, 1956. Conversely, the term shareholder is not defined in the Indian Companies Act, 1956. The bearer of a share warrant is not a member, but the bearer of a share warrant can be a shareholder. All shareholders whose name are entered in the register of members are the Get price

Companies (Court) Rules, 1959 PART I GENERAL R.1. R.2.

Companies Act, 1956, and of all other powers enabling, the Supreme Court of India, after consulting the High Courts, hereby makes the following rules :- PART I GENERAL R.1. Short title and commencement -These rules shall be cited as THE COMPANIES (COURT) RULES, 1959, and shall come into force on the 1st day of October, 1959. R.2. Get price

THE INDIAN COMPANIES ACT, 1956 BASIC CONCEPT The

THE INDIAN COMPANIES ACT, 1956 BASIC CONCEPT 1. What is the meaning of a Company? The word company means an association formed by a number of persons for some common object. When such an association of persons is registered under the companies act, it becomes an artificial person with perpetual succession and common seal. 2. How is a company Get price

Chapter 1 Introduction 1.1 History of Company Legislation

English Companies Acts, with certain modifications. Even the Companies Act, 1956, it is said, closely followed the U.K. Companies Act, 1948. In London, the earliest business associations during the 11th to 13th centuries were called the ‗merchant guilds'. These guilds Get price

The Companies Act, 1956 (Section 303 to 674 The Schedule)

The Companies Act 1956 – 1st Page Repealed – See The Companies Act 2013 The Companies Act 1956 – 2nd Page Repealed – See The Companies Act 2013. Repealed – See The Companies Act 2013 303. Register of directors. 303. Register of directors, 1 [***] etc. (1) Every company shall keep at its registered office a register of its directors, managing director, 1 [***] manager and secretary Get price

Hypothecation and Mortgage Property in India

Mar 14, 2014Hypothecation is to be registered under Section 125 of the Indian Companies Act, 1956 before the Registrar of Companies by filing Form No. 8, when the hypothecator is a company. Hypothecation is a way of creating a charge against the security of movable assets, which is quite similar to pledge. a) The assets remain in the custody of the borrower. Get price

THE INDIAN COMPANIES ACT, 1956 BASIC CONCEPT The

THE INDIAN COMPANIES ACT, 1956 BASIC CONCEPT 1. What is the meaning of a Company? The word company means an association formed by a number of persons for some common object. When such an association of persons is registered under the companies act, it becomes an artificial person with perpetual succession and common seal. 2. How is a company Get price

Duties liabilities of director

Companies Act 2013 is a revolution in corporate law development in India. The legislature, through this, has tried to bring the Indian corporate law in International paradigm. Although the inclusion of diverse groups makes it a bit complex still the efforts to serve the interest of Get price

'Promoter' 'Control' [Sec 2(69) read with Sec 2(27)] Part

It could be observed that barring section 167 and 168, the Act provides only for liabilities of the promoters. Control [Sec 2(27)] 1. Meaning of control under the Act The Companies Act, 1956 does not define the term "control." The definition of 'control' is introduced first time under the Act and it is an extensive definition. Get price

Section 25 Companies in the Companies Act, 1956

Oct 05, 2017Companies are distinct legal entity and are separate from its members. Profit and risk taking are the main elements of a company. Higher the risk more is the profit of any concern. Various companies have been incorporated under the Companies Act, 1956. Get price

Companies Types: 5 Types of Companies – Discussed!

The provisions of the Companies Act 1956 apply to statutory companies except where the said provisions are inconsistent with the provisions of the Act creating them. Statutory companies are mostly invested with compulsory powers. (iii) Registered companies: Companies registered under the Companies Act 1956, or earlier Companies Acts are called Get price

Business Law

The Companies Act, 1956, does not impose any restrictions on the timing of board meetings. They can be held during or outside business hours, as per the convenience of the board. Place for Holding Board Meetings. Board meetings can be held anywhere as per the convenience of the board. The board is not bound to select a venue for the meeting in Get price

Role of Promoters in Company Establishment

The Companies Act, 1956 contains no provision regarding the duties of the promoter. It merely imposes a liability on promoters for fallaciousdeclarations in prospectus they are parties section 62 and 63 to be precise, and for fraudulent trading. The Courts, however have been conscious of the possibility of abuse inherent in the promotion and Get price

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. The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules. However, currently there are only 438 (470-39+7) sections remains Get price

Difference Between Pvt Ltd and Public Ltd Company (with

Dec 09, 2014A Private Limited Company is a joint stock company, incorporated under The Indian Companies Act, 2013 or any other previous act. The maximum number of members is 200, excluding the current employees and the ex-employees who were the members during their employment or continues to be the member after the termination of employment in the company. Get price

Comparative Analysis Of Companies Act, 1956 Companies

Mar 06, 2014Companies Act, 1956: Companies Act, 2013: Allotment of securities – Not Yet Effective. In the case of private limited companies the matters of further issue are normally protected by appropriate clauses in the Articles of Association ("AOA "), as section 81 is not applicable to private limited companies. Sec 75: Return of Allotment Get price

Difference between Companies Act 2013 vs Companies Act 1956

Companies Act 2013. Companies Act 1956. 1. Financial Year. Companies must have their financial year ending on 31 Mar every year. Companies were permitted to have financial year ending on a date decide by Company. 2. Formats of Financial Statement. Schedule III. Schedule VI. 3. Maximum No of Partners. As per rules, subject to Max 100.currently Get price

Overview of Companies Act, 1956 Company Law Board (CLB)

The Companies Act, 1956 constitutes the Company Law in India. It came into force with effect from 1 st April, 1956. It is a consolidating Act which presents the whole body of the company law in a complete form and repeals earlier Companies Act and subsequent amendments. It contains 658 sections and XV schedules and numerous forms. Get price

Comparison Between Companies Act 1956 And The Revised Act

Aug 29, 2017S.No: Scope: Companies Act, 2013: Companies Act, 1956: Comments: 1. Definition of Charge Section 2(16): charge means an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage. No provision: Charge was not defined earlier but includes interest and lien in the definition provided now. Get price

Borrowing Powers

Jan 12, 2014Section 180 of the Companies Act, 2013 corresponds to section 293 of the companies Act, 1956 and the said section has been brought into effect from 12th September 2013. The earlier section 293 and the new section 180 pertained to powers of the Board of Directors which can be exercised only at a general meeting by way of special resolution to be Get price

Minimum Number of Board Meetings A Company should hold

Jun 30, 2015Under section 285 of old Companies Act 1956, a company was required to hold at least 4 meetings of board of directors in a year and at least once in every 3 months. Now this provision has been changed in new Companies Act 2013. Get price