COMPANIES ACT 2013

A) CONTAINTS
1. Introduction ,

2. Meaning ,
3. Major changes,
4. Conclusion,
1. INTRODUCTION
2008

2009
2010

2012

• First introduced in Lokhsabha oct 23,
• Bill re-introduced in 3rd, Aug ,
• Report...
The

act 1956 and 2013

Details

Companies act 1956.

Companies act 2013.

Parts/Chapter

13

29

Section

658

470

Sche...
a) SHARES
Sl ,no

Com, act 1956

Com, act 2013

1.

Shares can be Issue at
discount rate.

Issue of shares at a discount
r...
b) DEPOSITS
Sl ,no

Com, act 1956

Com, act 2013

1.

Deposits not to be invited
without advertisement

Prohibition of rec...
C) AUDITS AND AUDITORS

Sl ,no

Com, act 1956

Com, act 2013

1.

Rotation of auditor- discretion Rotation of auditor is
o...
d) DIRECTORS
Sl
no

Com, act 1956

Com, act 2013

1.

Woman director – Not mandatory

Woman director –Mandatory

2.

Gover...
e) CORPORATE SOCIAL RESPONSIBILITY
Sl
no

Com, act 1956

Com, act 2013

1.

No such an obligation on the
company

Companie...
f) FINANCIAL STATEMENTS
Sl
no

Com, act 1956

Com, act 2013

1.

Financial statements are,
a) Balance sheet.
b) Statement ...
g) BOARD MEETING
Sl
no

Com, act 1956

Com, act 2013

1.

•In a person.

• In a person and
• Video conference

2.

•No len...
i) ANNUAL GENERAL MEETING
Sl
no

Com, act 1956

Com, act 2013

1.

•First AGM within 18months from
date of incorporation.
...
j) WINDING -UP
Sl
no

Com, act 1956

Com, act 2013

1.

Concepts of dormant company
does not exists.

Dormant of company h...
4. CONCLUSION

TOO LATE IN ACT,
 CSR,
 MINORITY SHAREHOLDER,
 TRANCEPERANCY,
 WAIT AND SEE,

FEEDBACK WILL ALWAYS
ACCEPTABLE.
major changes in companies act,2013
major changes in companies act,2013
major changes in companies act,2013
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major changes in companies act,2013

  1. 1. COMPANIES ACT 2013 A) CONTAINTS 1. Introduction , 2. Meaning , 3. Major changes, 4. Conclusion,
  2. 2. 1. INTRODUCTION 2008 2009 2010 2012 • First introduced in Lokhsabha oct 23, • Bill re-introduced in 3rd, Aug , • Report tabled in Lokhsabha 31st,Aug. • Company bill passed by Lokhsabha18th,Dec. • Passed by Rajyasabha 8th,Aug, 2013 2013 • Received assent Hon’able president 30th,Aug.
  3. 3. The act 1956 and 2013 Details Companies act 1956. Companies act 2013. Parts/Chapter 13 29 Section 658 470 Schedules 15 7 No. of clauses in section 2 67 95 2. MEANING
  4. 4. a) SHARES Sl ,no Com, act 1956 Com, act 2013 1. Shares can be Issue at discount rate. Issue of shares at a discount rate is prohibited. 2. No restriction here. Sweat equity shares can be issued at a discount rate.
  5. 5. b) DEPOSITS Sl ,no Com, act 1956 Com, act 2013 1. Deposits not to be invited without advertisement Prohibition of receiving deposits from public 2. Deposits repaid in accordance with terms and conditions Deposits issue from members repay within 1year
  6. 6. C) AUDITS AND AUDITORS Sl ,no Com, act 1956 Com, act 2013 1. Rotation of auditor- discretion Rotation of auditor is of the company compulsory 2. Provision relates to certain Provision relates to certain service provided by Auditor to service provided by Auditor to company- Liberal in nature company- Highly restrictive 3. Auditor shall be entitled Attend AGM Auditor shall Attend AGM (compulsory )
  7. 7. d) DIRECTORS Sl no Com, act 1956 Com, act 2013 1. Woman director – Not mandatory Woman director –Mandatory 2. Government approval required for increase No of directors No of directors can be increasable by the passing special resolution 3. Maximum no of directors in a company 12, for increase Govt approval required Maximum no of directors in a company 12, for increase special resolution required 4. Directorship of an individual maximum- 15 companies Directorship of an individual maximum- 20 companies, out of which max 10 public companies
  8. 8. e) CORPORATE SOCIAL RESPONSIBILITY Sl no Com, act 1956 Com, act 2013 1. No such an obligation on the company Companies having net worth of Rs 500 crores or more OR turnover of Rs 1000 crores or more OR net profit of 5 crores or more 2. No such an obligation on the company Required to spent at least 2% of it average net profit during the 3 preceding financial years. 3. No such an obligation on the company Reasons for not meeting the obligations ,shall be disclosed in the directors report.
  9. 9. f) FINANCIAL STATEMENTS Sl no Com, act 1956 Com, act 2013 1. Financial statements are, a) Balance sheet. b) Statement of profit and loss a/c. c) Trading a/c. d) Notes. Financial statements are, a) Balance sheet . b) Statement of profit and loss/ Income and expenditure a /c. c) Cash flow statement . d) Statement showing changes in equity. e) Notes.
  10. 10. g) BOARD MEETING Sl no Com, act 1956 Com, act 2013 1. •In a person. • In a person and • Video conference 2. •No length notice prescribed. •Before 7 days Through •Post •Hand delivery •Electronic media 3. •4 per year •1 per quarter year •4 every •< 120 days gap between meetings
  11. 11. i) ANNUAL GENERAL MEETING Sl no Com, act 1956 Com, act 2013 1. •First AGM within 18months from date of incorporation. • Within 9months of end of FY. •Cannot take place in public holidays •Outside business hours • Cannot take place in National holidays Outside business hours (9am to 6pm) • •In writing only • Either in writing or electrical mode.
  12. 12. j) WINDING -UP Sl no Com, act 1956 Com, act 2013 1. Concepts of dormant company does not exists. Dormant of company has introduced, 2. Winding up- member voluntarily winding up and creditors voluntarily winding up. No distinction between members and creditors voluntarily winding up. 3. The company shall be deemed to be unable to pay debts of a creditors for more than 500/within the 21 days after the receipt of demand from a such a creditor. The new act raised the amount from Rs. 500/ to Rs. 100000
  13. 13. 4. CONCLUSION TOO LATE IN ACT,  CSR,  MINORITY SHAREHOLDER,  TRANCEPERANCY,  WAIT AND SEE, 
  14. 14. FEEDBACK WILL ALWAYS ACCEPTABLE.

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