presentation on the companies act.

3. The companies bill,2012 was
passed by Lok sabha on the 18th
of December 2012.
Companies act,2013 contains 470
Sections and 7 schedules.

4.  Simplify laws
 Improve corporate governance
 Provide for better and more powerful
oversight
 Allow class action suits
 Enforce gender equality
 Enforce independence of boards
 Make spending on CSR de facto mandatory
 Improve quality of financial statements.

8.  ‘One person company’ means a company which has
only one person as a member.
 Memorandum of one person company shall indicate
the name of a person who shall become member, in
the event of death of the single member.
 The words ‘One person company’ shall be mentioned
in brackets below the name of such company,
wherever its name is printed, affixed or engraved.

9.  One person company can be:
--Limited by shares
--Limited by guarantee
--Unlimited company
 CAPITAL:
--Min: Rs 100000
--Max: No limit
 Minimum no of directors is only 1
COMPANY

11.  Key managerial personnel , in relation to a company
means-
 The chief executive officer or managing director
 The whole time director
 The chief financial officer

13. Right of members, deposit holders or their
representatives to file an application before the
tribunal for restraining the company from some
specified acts.

15.  A company, other than a public company—
Paid up share capital which doesn’t exceed 50 lakh
rupees
Turnover of which as per its last profit and loss
account does not exceed 02 crore rupees
 Not applicable to-
A holding company
A company governed by any special act

17. First AGM- within 9 months of end
of financial year
AGM cannot be held on:
•National holidays
•Outside business hours
MODE OF NOTICE:
Either in writing or electronic mode
Other AGM -6 months from the end
of financial year
Gap between two AGM’S – not
more than 15 months

18.  Non compliance by company
* Fine – Rs.25000 to Rs.500000
* 1 year imprisonment or fine of Rs.10000 to Rs.100000
or both

19. COMPANY ACT 1956
 Private and public
company
 A pvt company can have
a max of 50 members
 Provision is applicable
only to public limited
companies
 Private company,public
company and one person
company
 Pvt. Company can have
max of 200 members
 Now applicable to all
companies having share
capital
COMPANY ACT 2013

21.  The companies act,2013 is a progressive and forward
looking which promises improved corporate
governance norms, enhanced disclosures and
transparency , protection of interest of investors and
better shareholder democracy.
 The new law also transits company secretaries to
corporate governance professionals. It brackets them
in the category of key mangerial personnel and holds
them responsible for implementation of all relevant
laws applicable to the companies.