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What Is Companies Act 2013

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

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What Is Companies Act 2013

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  1. WHAT IS COMPANIES ACT 2013

  2. 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 new provisions include various changes like making directors liable for misrepresentation, provision for averaging of losses for certain companies, mandating disclosure of financial statements through Registry or Stock Exchange, stronger punishment for failure to file annual returns, and applicable penalties.

  3. The Companies Act 2013, An Act to consolidate and amend the law relating to companies. This act is applicable for the whole of India except Jammu & Kashmir. The States of Jammu & Kashmir, Himachal Pradesh, Uttarakhand, and New Delhi have got their own separate acts. The functions of the Central Government in relation to the incorporation and regulation of companies under this act have been delegated to UCO Bank and some other financial institutions on a contract basis, who charge certain fees while following central government guidelines.

  4. WHY DO WE NEED COMPANY ACT 2013 The Companies Act 2013 was introduced to ease the process of doing business in India and improve corporate governance. Another factor behind the introduction of the Companies Act 2013 was to make companies more accountable.

  5. WHAT IS SECTION 4 OF THE COMPANIES ACT, 2013 According to Section 4 of the Companies Act, 2013, the MOA is a legal document specifying information about the shareholding of the company. It also outlines the scope of the company's business activities. Further, it is prepared for the purpose of registering the company. It is also called the charter of the company.

  6. READ MORE RELATED ARTICLES  common cause vs union of India judgment.  what is the companies act 2013  justice ks puttaswamy vs union of india citation  Pocso Act Section 12

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