SlideShare a Scribd company logo
THE COMPANIES ACT, 2013
-Kartik Karemore
New Concepts
• One Person Companies (opc)
• Women Directors
• Corporate Social Responsibility.
• Registered Valuers
• Class Action
• Dormant Company
• Fast Track Mergers
• Serious Fraud Investigation Office
One Person Company
One Person Company is a company with only one
person as a member. That one person will be the
shareholder of the company. It avails all the
benefits of a private limited company such as
separate legal entity, protecting personal assets
from business liability, and perpetual succession.
One Person Company (OPC) is a Company
registered with ONLY ONE PERSON as its
shareholder. An OPC is classified as a private
company under Companies Act.
Woman Director
Every Listed Company /Public Company
with paid up capital of Rs 100 Crores or
more / Public Company with turnover of Rs
300 Crores or more shall have at least one
Woman Director.
Corporate Social Responsibility
Corporate Social Responsibility Clause
(135) Every company having net worth of
rupees five hundred crore or more, or
turnover of rupees one thousand crore or
more or a net profit of rupees five crore or
more during any financial year shall
constitute a Corporate Social Responsibility
Committee of the Board consisting of three
or more directors, out of which at least one
director shall be an independent director.
Registered Valuers
Registered Valuers-Valuation by registered valuers. Clause
(247) (1) Where a valuation is required to be made in
respect of any property, stocks, shares, debentures,
securities or goodwill or any other assets (herein referred to
as the assets) or net worth of a company or its liabilities
under the provision of this Act, it shall be valued by a
person having such qualifications and experience and
registered as a valuer in such manner, on such terms and
conditions as may be prescribed and appointed by the
audit committee or in its absence by the Board of Directors
of that company
Class Action
Class action suits (clause 245) For the first time, a provision has been
made for class action suits. It is provided that specified number of
member(s), depositor(s) or any class of them, may, if they are of the
opinion that the management or control of the affairs of the company
are being conducted in a manner prejudicial to the interests of the
company or its members or depositors, file an application before the
Tribunal on behalf of the members or depositors. Where the members
or depositors seek any damages or compensation or demand any
other suitable action from or against an audit firm, the liability shall be
of the firm as well as of each partner who was involved in making any
improper or misleading statement of particulars in the audit report or
who acted in a fraudulent, unlawful or wrongful manner. The order
passed by the Tribunal shall be binding on the company and all its
members, depositors and auditors including audit firm or expert or
consultant or advisor or any other person associated with the company.
Dormant Company
Where a company is formed and registered
under this Act for a future project or to hold
an asset or intellectual property and has no
significant accounting transaction, such a
company or an inactive company may make
an application to the Registrar for obtaining
the status of a dormant company.
CHANGES REGARDING
INCORPORATION RELATING
MATTERS
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act
2013
1 Types of Companies Public company
Private company
Public company
Private company
One Person company
2 Maximum no of
members for private
companies
A private company can have
maximum of 50 members
A private company can
have maximum of 200
members
3 One person
company
No provision for OPC New Concept
Introduced
4 Commencement of
business
Provisions applicable to
public limited company
only
Now applicable to all
companies having
share capital
Sr
No
Particular Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
5 Registered Office Companies are required
the Registered office
to furnish the details of
of
the company by filing
Form 18 at the time of
incorporation.
The company is also
required to furnish to the
Registrar verification of its
registered office within a
period of 30 days of its
incorporation in a prescribed
manner. Notice of every
change of the situation of the
registered office, shall be
given to the Registrar within
fifteen days of the change,
who shall record the same.
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
6 Object Clause of
MOA
Object clause bifurcated
into - Main Objects,
Incidental or Ancillary
Objects and Other
Objects
MOA to contain the
objects for which the
company is proposed to
be incorporated and any
matter considered
necessary in furtherance
thereof.
CHANGES REGARDING
BOARD MEETING
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
1 First Board Meeting No specific time stipulated
for holding first the first
board meeting
2 Length of Notice No specific length of notice
specified
Every company shall
hold the first meeting of
the Board of Directors
within thirty days of the
date of its
incorporation.
Meeting of the Board
shall called by giving
not less than seven
days’ notice
3 Penalty Every officer of the company
whose duty is to
give notice as aforesaid and
who fails to do so shall be
punishable with fine which
may extend to one thousand
rupees.
Every officer of the
company whose duty is
to give notice under
this section and who
fails to do so shall be
liable to a penalty of
twenty-five thousand
rupees.
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
4 Time Gap between
two meetings
At least one meeting to be
held in every quarter.
Not more than one hundred
intervene between
and twenty days shall
two
consecutive meetings of
the Board
CHANGES REGARDING ISSUE
OF SHARES CAPITAL
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
1 Issue of Shares
at a discount
Section 79 permits issue of
shares at discount subject to
compliance with conditions.
Shares, other than sweat
equity shares, cannot be
issued at a discount.
2 Issue of
preference
shares for more
than 20 years
Section 80 prohibits issueof
irredeemable preference
shares and preference
shares Redeemable after 20
years.
Preference shares have to
be redeemed within 20
years of issue except for the
shares issued for prescribed
infrastructure projects,
provided a certain
percentage of shares are
redeemed annually at the
option of shareholders
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
4 Notice of
alteration of share
capital
Notice of redemption of
preference shares is not
required to be filed with
ROC.
5 Consolidation and
division of shares
Company permitted to
consolidated or sub
divide its shares by
passing
resolution in general
meeting
Company shall file a
notice in the prescribed
form with the Registrar
within a period of thirty
days of redemption of
redeemable preference
shares.
Consolidation and
division which results in
changes in the voting
percentage of
shareholders shall require
approval of the Tribunal
to be effective.
CHANGES REGARDING
DIRECTORS AND THEIR
POWERS
Sr Particular
No
1 Maximum Number
of Directors
Provisions under
Companies Act 1956
12
2 Maximum number
of Directorship
15; Excluding Private
companies, Unlimited
Companies, Alternate
Directorship and
Directorship in Non-Profit
Associations
3 Resignation of
Director
No specific provisions
except that any change
in directors to be filed
with ROC within 30 days.
Provisions under
Companies Act 2013
15. More can be
appointed by
passing S.R.
20. Out of which not
more than 10 can be
Public Companies.
Includes Alternate
Directorship also. No
specific exclusions
provided
Director to send
copy of resignation
letter and detailed
reasons for
resignation to
Registrar within 30
days of resignation
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
4 Composition
Board
of Minimum of 2 directors in
case of private and 3 in
case of public
companies. Maximum 12
Directors.
Prescribed class of
companies are
required to appoint at
least 1 woman
director. At least 1
director should be a
person who has
stayed in India for a
period not less than
182 days in previous
year. Listed
Companies to have
atleast one third
independent
directors. Existing
companies to get a
transition period of 1
year to comply.
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
5 Vacancy of office for
not attending board
meetings
The office of a director shall
become vacant if he absents
himself from three
consecutive meetings of the
Board of directors, or from all
meetings of the Board, for a
continuous period of three
months, whichever is longer,
without obtaining leave of
absence from the Board
The office of a director
shall become vacant in
case he absents himself
from all the meetings of
the Board of Directors
held during a period of
twelve months with or
without seeking leave of
absence of the Board.
6 Disclosures in
Board’s report
Section 217 contains
disclosure requirements of
Board’s report
Additional Disclosures
proposed by the bill,
namely, Extract of
Annual Return, Number
of board meetings, CSR
initiatives and policy,
particulars of loans,
guarantees, investments
etc.
CHANGES REGARDING
CHARGES AND THEIR
REGISTRATION
Sr Particular
No
1 Definition
Provisions under
Companies Act 1956
Inclusive definition of
charge given in the present
Act - “Charge to include
mortgage”.
2 Registration
of all
charges
Present Act specifies only 9
types of charges which
require registration.
Provisions under
Companies Act 2013
Charge defined as “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
Company are required to
register all types of charges
within or outside India, on
its property or assets or
any of its undertakings,
whether tangible or
otherwise, and situated in
or outside India with ROC
within 30 days.
Sr Particular
No
Provisions under
Companies Act 1956
Provisions under
Companies Act 2013
3 Registration of
pledge
Pledge of movable property
does not require registration
with ROC.
Bill proposes to
withdraw this
exemption
lawfinal-160403042212.pptx

More Related Content

Similar to lawfinal-160403042212.pptx

BOD: power and liabilities
BOD: power and liabilitiesBOD: power and liabilities
BOD: power and liabilities
SonalJain210
 
Companies act2013 comparisonwithcompaniesact1956-20131
Companies act2013 comparisonwithcompaniesact1956-20131Companies act2013 comparisonwithcompaniesact1956-20131
Companies act2013 comparisonwithcompaniesact1956-20131
Karishma Kakkad
 
Corporate administration Introduction part 1
Corporate administration Introduction part 1Corporate administration Introduction part 1
Corporate administration Introduction part 1
reenu40
 
1.introduction , features & formation of copanies (1)
1.introduction , features & formation of copanies (1)1.introduction , features & formation of copanies (1)
1.introduction , features & formation of copanies (1)
A. Pooja Narayan
 
Chapter xi 13.09.2013.appointment and qualification of directors
Chapter xi 13.09.2013.appointment and qualification of directorsChapter xi 13.09.2013.appointment and qualification of directors
Chapter xi 13.09.2013.appointment and qualification of directors
Vineeta Jain
 
Company's Act 1956
Company's Act 1956Company's Act 1956
Company's Act 1956
Vipul Jain
 
Appointment of directors powers, duties and liabilities
Appointment of directors powers, duties and liabilitiesAppointment of directors powers, duties and liabilities
Appointment of directors powers, duties and liabilities
mcomgirl
 
Unit 3 companies act
Unit 3 companies actUnit 3 companies act
Unit 3 companies act
Shahab Ud Din
 
Main provisions of companies act 1956
Main provisions of companies act 1956Main provisions of companies act 1956
Main provisions of companies act 1956Ankur Yadav
 
New Companies Act 2013 highlights
New Companies Act 2013 highlightsNew Companies Act 2013 highlights
New Companies Act 2013 highlightsANAND GAWADE
 
Business law unit 4
Business law unit 4Business law unit 4
Business law unit 4
Ashish Hande
 
Coy law unit 1
Coy law unit 1Coy law unit 1
Coy law unit 1
Kanwaljeet Singh
 
Business Law
Business LawBusiness Law
Companies Act, 2013
Companies Act, 2013 Companies Act, 2013
Companies Act, 2013
Dattatreya Reddy Peram
 
Companies Bill, 2012
Companies Bill, 2012Companies Bill, 2012
Companies Bill, 2012Mamta Binani
 
Company law
Company lawCompany law
Company lawparas14
 
Assignment on Business Law in India
Assignment on Business Law in IndiaAssignment on Business Law in India
Assignment on Business Law in India
akoijam Machanglen
 

Similar to lawfinal-160403042212.pptx (20)

BOD: power and liabilities
BOD: power and liabilitiesBOD: power and liabilities
BOD: power and liabilities
 
Companies act2013 comparisonwithcompaniesact1956-20131
Companies act2013 comparisonwithcompaniesact1956-20131Companies act2013 comparisonwithcompaniesact1956-20131
Companies act2013 comparisonwithcompaniesact1956-20131
 
Corporate administration Introduction part 1
Corporate administration Introduction part 1Corporate administration Introduction part 1
Corporate administration Introduction part 1
 
1.introduction , features & formation of copanies (1)
1.introduction , features & formation of copanies (1)1.introduction , features & formation of copanies (1)
1.introduction , features & formation of copanies (1)
 
Chapter xi 13.09.2013.appointment and qualification of directors
Chapter xi 13.09.2013.appointment and qualification of directorsChapter xi 13.09.2013.appointment and qualification of directors
Chapter xi 13.09.2013.appointment and qualification of directors
 
Company's Act 1956
Company's Act 1956Company's Act 1956
Company's Act 1956
 
Appointment of directors powers, duties and liabilities
Appointment of directors powers, duties and liabilitiesAppointment of directors powers, duties and liabilities
Appointment of directors powers, duties and liabilities
 
Unit 3 companies act
Unit 3 companies actUnit 3 companies act
Unit 3 companies act
 
Main provisions of companies act 1956
Main provisions of companies act 1956Main provisions of companies act 1956
Main provisions of companies act 1956
 
New Companies Act 2013 highlights
New Companies Act 2013 highlightsNew Companies Act 2013 highlights
New Companies Act 2013 highlights
 
Companies act,1956
Companies act,1956Companies act,1956
Companies act,1956
 
Business law unit 4
Business law unit 4Business law unit 4
Business law unit 4
 
Coy law unit 1
Coy law unit 1Coy law unit 1
Coy law unit 1
 
Presentation1
Presentation1Presentation1
Presentation1
 
Business Law
Business LawBusiness Law
Business Law
 
Companies Act, 2013
Companies Act, 2013 Companies Act, 2013
Companies Act, 2013
 
Companies Bill, 2012
Companies Bill, 2012Companies Bill, 2012
Companies Bill, 2012
 
Company law
Company lawCompany law
Company law
 
Assignment on Business Law in India
Assignment on Business Law in IndiaAssignment on Business Law in India
Assignment on Business Law in India
 
Company law
Company lawCompany law
Company law
 

More from BharaniEswariMM

businesscommunication.pptx
businesscommunication.pptxbusinesscommunication.pptx
businesscommunication.pptx
BharaniEswariMM
 
companiesact.pptx
companiesact.pptxcompaniesact.pptx
companiesact.pptx
BharaniEswariMM
 
givingandreceivingfeedback.pptx
givingandreceivingfeedback.pptxgivingandreceivingfeedback.pptx
givingandreceivingfeedback.pptx
BharaniEswariMM
 
Unit -3 bc.pptx
Unit -3 bc.pptxUnit -3 bc.pptx
Unit -3 bc.pptx
BharaniEswariMM
 
Feedback.pptx
Feedback.pptxFeedback.pptx
Feedback.pptx
BharaniEswariMM
 
Quasi contract.pptx
Quasi contract.pptxQuasi contract.pptx
Quasi contract.pptx
BharaniEswariMM
 
classificationofcompanies-150817082617-lva1-app6891 (1).pptx
classificationofcompanies-150817082617-lva1-app6891 (1).pptxclassificationofcompanies-150817082617-lva1-app6891 (1).pptx
classificationofcompanies-150817082617-lva1-app6891 (1).pptx
BharaniEswariMM
 
indore_ppt_final_02062021.pptx
indore_ppt_final_02062021.pptxindore_ppt_final_02062021.pptx
indore_ppt_final_02062021.pptx
BharaniEswariMM
 
Non Verbal Communication.ppt
Non Verbal Communication.pptNon Verbal Communication.ppt
Non Verbal Communication.ppt
BharaniEswariMM
 
bodylanguage-150910060708-lva1-app6891.pptx
bodylanguage-150910060708-lva1-app6891.pptxbodylanguage-150910060708-lva1-app6891.pptx
bodylanguage-150910060708-lva1-app6891.pptx
BharaniEswariMM
 
memo_agenda_and_minutes.pptx
memo_agenda_and_minutes.pptxmemo_agenda_and_minutes.pptx
memo_agenda_and_minutes.pptx
BharaniEswariMM
 
Feedback.pptx
Feedback.pptxFeedback.pptx
Feedback.pptx
BharaniEswariMM
 
communicationnetwork.pptx
communicationnetwork.pptxcommunicationnetwork.pptx
communicationnetwork.pptx
BharaniEswariMM
 
givingandreceivingfeedback.pdf
givingandreceivingfeedback.pdfgivingandreceivingfeedback.pdf
givingandreceivingfeedback.pdf
BharaniEswariMM
 
Feedback.pdf
Feedback.pdfFeedback.pdf
Feedback.pdf
BharaniEswariMM
 
typesofconract.pdf
typesofconract.pdftypesofconract.pdf
typesofconract.pdf
BharaniEswariMM
 
POM_UNIT_I_Introduction to Management.pptx
POM_UNIT_I_Introduction to Management.pptxPOM_UNIT_I_Introduction to Management.pptx
POM_UNIT_I_Introduction to Management.pptx
BharaniEswariMM
 
POM_UNIT_V_CONTROLLING.pptx
POM_UNIT_V_CONTROLLING.pptxPOM_UNIT_V_CONTROLLING.pptx
POM_UNIT_V_CONTROLLING.pptx
BharaniEswariMM
 
POM_UNIT_II_PLANNING.pptx
POM_UNIT_II_PLANNING.pptxPOM_UNIT_II_PLANNING.pptx
POM_UNIT_II_PLANNING.pptx
BharaniEswariMM
 

More from BharaniEswariMM (19)

businesscommunication.pptx
businesscommunication.pptxbusinesscommunication.pptx
businesscommunication.pptx
 
companiesact.pptx
companiesact.pptxcompaniesact.pptx
companiesact.pptx
 
givingandreceivingfeedback.pptx
givingandreceivingfeedback.pptxgivingandreceivingfeedback.pptx
givingandreceivingfeedback.pptx
 
Unit -3 bc.pptx
Unit -3 bc.pptxUnit -3 bc.pptx
Unit -3 bc.pptx
 
Feedback.pptx
Feedback.pptxFeedback.pptx
Feedback.pptx
 
Quasi contract.pptx
Quasi contract.pptxQuasi contract.pptx
Quasi contract.pptx
 
classificationofcompanies-150817082617-lva1-app6891 (1).pptx
classificationofcompanies-150817082617-lva1-app6891 (1).pptxclassificationofcompanies-150817082617-lva1-app6891 (1).pptx
classificationofcompanies-150817082617-lva1-app6891 (1).pptx
 
indore_ppt_final_02062021.pptx
indore_ppt_final_02062021.pptxindore_ppt_final_02062021.pptx
indore_ppt_final_02062021.pptx
 
Non Verbal Communication.ppt
Non Verbal Communication.pptNon Verbal Communication.ppt
Non Verbal Communication.ppt
 
bodylanguage-150910060708-lva1-app6891.pptx
bodylanguage-150910060708-lva1-app6891.pptxbodylanguage-150910060708-lva1-app6891.pptx
bodylanguage-150910060708-lva1-app6891.pptx
 
memo_agenda_and_minutes.pptx
memo_agenda_and_minutes.pptxmemo_agenda_and_minutes.pptx
memo_agenda_and_minutes.pptx
 
Feedback.pptx
Feedback.pptxFeedback.pptx
Feedback.pptx
 
communicationnetwork.pptx
communicationnetwork.pptxcommunicationnetwork.pptx
communicationnetwork.pptx
 
givingandreceivingfeedback.pdf
givingandreceivingfeedback.pdfgivingandreceivingfeedback.pdf
givingandreceivingfeedback.pdf
 
Feedback.pdf
Feedback.pdfFeedback.pdf
Feedback.pdf
 
typesofconract.pdf
typesofconract.pdftypesofconract.pdf
typesofconract.pdf
 
POM_UNIT_I_Introduction to Management.pptx
POM_UNIT_I_Introduction to Management.pptxPOM_UNIT_I_Introduction to Management.pptx
POM_UNIT_I_Introduction to Management.pptx
 
POM_UNIT_V_CONTROLLING.pptx
POM_UNIT_V_CONTROLLING.pptxPOM_UNIT_V_CONTROLLING.pptx
POM_UNIT_V_CONTROLLING.pptx
 
POM_UNIT_II_PLANNING.pptx
POM_UNIT_II_PLANNING.pptxPOM_UNIT_II_PLANNING.pptx
POM_UNIT_II_PLANNING.pptx
 

Recently uploaded

Defending Weapons Offence Charges: Role of Mississauga Criminal Defence Lawyers
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersDefending Weapons Offence Charges: Role of Mississauga Criminal Defence Lawyers
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence Lawyers
HarpreetSaini48
 
Bharatiya Nagarik Suraksha Sanhita power.pptx
Bharatiya Nagarik Suraksha Sanhita power.pptxBharatiya Nagarik Suraksha Sanhita power.pptx
Bharatiya Nagarik Suraksha Sanhita power.pptx
ShivkumarIyer18
 
Rokita Releases Soccer Stadium Legal Opinion
Rokita Releases Soccer Stadium Legal OpinionRokita Releases Soccer Stadium Legal Opinion
Rokita Releases Soccer Stadium Legal Opinion
Abdul-Hakim Shabazz
 
定制(nus毕业证书)新加坡国立大学毕业证学位证书实拍图原版一模一样
定制(nus毕业证书)新加坡国立大学毕业证学位证书实拍图原版一模一样定制(nus毕业证书)新加坡国立大学毕业证学位证书实拍图原版一模一样
定制(nus毕业证书)新加坡国立大学毕业证学位证书实拍图原版一模一样
9ib5wiwt
 
原版仿制(aut毕业证书)新西兰奥克兰理工大学毕业证文凭毕业证雅思成绩单原版一模一样
原版仿制(aut毕业证书)新西兰奥克兰理工大学毕业证文凭毕业证雅思成绩单原版一模一样原版仿制(aut毕业证书)新西兰奥克兰理工大学毕业证文凭毕业证雅思成绩单原版一模一样
原版仿制(aut毕业证书)新西兰奥克兰理工大学毕业证文凭毕业证雅思成绩单原版一模一样
9ib5wiwt
 
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...
Massimo Talia
 
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee
 
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
osenwakm
 
Lifting the Corporate Veil. Power Point Presentation
Lifting the Corporate Veil. Power Point PresentationLifting the Corporate Veil. Power Point Presentation
Lifting the Corporate Veil. Power Point Presentation
seri bangash
 
Ease of Paying Tax Law Republic Act 11976
Ease of Paying Tax Law Republic Act 11976Ease of Paying Tax Law Republic Act 11976
Ease of Paying Tax Law Republic Act 11976
PelayoGilbert
 
1比1制作(swansea毕业证书)英国斯旺西大学毕业证学位证书托业成绩单原版一模一样
1比1制作(swansea毕业证书)英国斯旺西大学毕业证学位证书托业成绩单原版一模一样1比1制作(swansea毕业证书)英国斯旺西大学毕业证学位证书托业成绩单原版一模一样
1比1制作(swansea毕业证书)英国斯旺西大学毕业证学位证书托业成绩单原版一模一样
9ib5wiwt
 
Understanding about ITR-1 and Documentation
Understanding about ITR-1 and DocumentationUnderstanding about ITR-1 and Documentation
Understanding about ITR-1 and Documentation
CAAJAYKUMAR4
 
Tax Law Notes on taxation law tax law for 10th sem
Tax Law Notes on taxation law tax law for 10th semTax Law Notes on taxation law tax law for 10th sem
Tax Law Notes on taxation law tax law for 10th sem
azizurrahaman17
 
办理(waikato毕业证书)新西兰怀卡托大学毕业证双学位证书原版一模一样
办理(waikato毕业证书)新西兰怀卡托大学毕业证双学位证书原版一模一样办理(waikato毕业证书)新西兰怀卡托大学毕业证双学位证书原版一模一样
办理(waikato毕业证书)新西兰怀卡托大学毕业证双学位证书原版一模一样
9ib5wiwt
 
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordina...
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordina...Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordina...
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordina...
Syed Muhammad Humza Hussain
 
Energizing Communities, Fostering Growth, Sustaining Futures
Energizing Communities, Fostering Growth, Sustaining FuturesEnergizing Communities, Fostering Growth, Sustaining Futures
Energizing Communities, Fostering Growth, Sustaining Futures
USDAReapgrants.com
 
Incometax Compliance_PF_ ESI- June 2024
Incometax  Compliance_PF_ ESI- June 2024Incometax  Compliance_PF_ ESI- June 2024
Incometax Compliance_PF_ ESI- June 2024
EbizfilingIndia
 
2015pmkemenhub163.pdf. 2015pmkemenhub163.pdf
2015pmkemenhub163.pdf. 2015pmkemenhub163.pdf2015pmkemenhub163.pdf. 2015pmkemenhub163.pdf
2015pmkemenhub163.pdf. 2015pmkemenhub163.pdf
CIkumparan
 
XYZ-v.-state-of-Maharashtra-Bombay-HC-Writ-Petition-6340-2023.pdf
XYZ-v.-state-of-Maharashtra-Bombay-HC-Writ-Petition-6340-2023.pdfXYZ-v.-state-of-Maharashtra-Bombay-HC-Writ-Petition-6340-2023.pdf
XYZ-v.-state-of-Maharashtra-Bombay-HC-Writ-Petition-6340-2023.pdf
bhavenpr
 
Patenting_Innovations_in_3D_Printing_Prosthetics.pptx
Patenting_Innovations_in_3D_Printing_Prosthetics.pptxPatenting_Innovations_in_3D_Printing_Prosthetics.pptx
Patenting_Innovations_in_3D_Printing_Prosthetics.pptx
ssuser559494
 

Recently uploaded (20)

Defending Weapons Offence Charges: Role of Mississauga Criminal Defence Lawyers
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersDefending Weapons Offence Charges: Role of Mississauga Criminal Defence Lawyers
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence Lawyers
 
Bharatiya Nagarik Suraksha Sanhita power.pptx
Bharatiya Nagarik Suraksha Sanhita power.pptxBharatiya Nagarik Suraksha Sanhita power.pptx
Bharatiya Nagarik Suraksha Sanhita power.pptx
 
Rokita Releases Soccer Stadium Legal Opinion
Rokita Releases Soccer Stadium Legal OpinionRokita Releases Soccer Stadium Legal Opinion
Rokita Releases Soccer Stadium Legal Opinion
 
定制(nus毕业证书)新加坡国立大学毕业证学位证书实拍图原版一模一样
定制(nus毕业证书)新加坡国立大学毕业证学位证书实拍图原版一模一样定制(nus毕业证书)新加坡国立大学毕业证学位证书实拍图原版一模一样
定制(nus毕业证书)新加坡国立大学毕业证学位证书实拍图原版一模一样
 
原版仿制(aut毕业证书)新西兰奥克兰理工大学毕业证文凭毕业证雅思成绩单原版一模一样
原版仿制(aut毕业证书)新西兰奥克兰理工大学毕业证文凭毕业证雅思成绩单原版一模一样原版仿制(aut毕业证书)新西兰奥克兰理工大学毕业证文凭毕业证雅思成绩单原版一模一样
原版仿制(aut毕业证书)新西兰奥克兰理工大学毕业证文凭毕业证雅思成绩单原版一模一样
 
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...
 
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
 
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
原版制作(PSU毕业证书)宾州州立大学公园分校毕业证学历证书一模一样
 
Lifting the Corporate Veil. Power Point Presentation
Lifting the Corporate Veil. Power Point PresentationLifting the Corporate Veil. Power Point Presentation
Lifting the Corporate Veil. Power Point Presentation
 
Ease of Paying Tax Law Republic Act 11976
Ease of Paying Tax Law Republic Act 11976Ease of Paying Tax Law Republic Act 11976
Ease of Paying Tax Law Republic Act 11976
 
1比1制作(swansea毕业证书)英国斯旺西大学毕业证学位证书托业成绩单原版一模一样
1比1制作(swansea毕业证书)英国斯旺西大学毕业证学位证书托业成绩单原版一模一样1比1制作(swansea毕业证书)英国斯旺西大学毕业证学位证书托业成绩单原版一模一样
1比1制作(swansea毕业证书)英国斯旺西大学毕业证学位证书托业成绩单原版一模一样
 
Understanding about ITR-1 and Documentation
Understanding about ITR-1 and DocumentationUnderstanding about ITR-1 and Documentation
Understanding about ITR-1 and Documentation
 
Tax Law Notes on taxation law tax law for 10th sem
Tax Law Notes on taxation law tax law for 10th semTax Law Notes on taxation law tax law for 10th sem
Tax Law Notes on taxation law tax law for 10th sem
 
办理(waikato毕业证书)新西兰怀卡托大学毕业证双学位证书原版一模一样
办理(waikato毕业证书)新西兰怀卡托大学毕业证双学位证书原版一模一样办理(waikato毕业证书)新西兰怀卡托大学毕业证双学位证书原版一模一样
办理(waikato毕业证书)新西兰怀卡托大学毕业证双学位证书原版一模一样
 
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordina...
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordina...Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordina...
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordina...
 
Energizing Communities, Fostering Growth, Sustaining Futures
Energizing Communities, Fostering Growth, Sustaining FuturesEnergizing Communities, Fostering Growth, Sustaining Futures
Energizing Communities, Fostering Growth, Sustaining Futures
 
Incometax Compliance_PF_ ESI- June 2024
Incometax  Compliance_PF_ ESI- June 2024Incometax  Compliance_PF_ ESI- June 2024
Incometax Compliance_PF_ ESI- June 2024
 
2015pmkemenhub163.pdf. 2015pmkemenhub163.pdf
2015pmkemenhub163.pdf. 2015pmkemenhub163.pdf2015pmkemenhub163.pdf. 2015pmkemenhub163.pdf
2015pmkemenhub163.pdf. 2015pmkemenhub163.pdf
 
XYZ-v.-state-of-Maharashtra-Bombay-HC-Writ-Petition-6340-2023.pdf
XYZ-v.-state-of-Maharashtra-Bombay-HC-Writ-Petition-6340-2023.pdfXYZ-v.-state-of-Maharashtra-Bombay-HC-Writ-Petition-6340-2023.pdf
XYZ-v.-state-of-Maharashtra-Bombay-HC-Writ-Petition-6340-2023.pdf
 
Patenting_Innovations_in_3D_Printing_Prosthetics.pptx
Patenting_Innovations_in_3D_Printing_Prosthetics.pptxPatenting_Innovations_in_3D_Printing_Prosthetics.pptx
Patenting_Innovations_in_3D_Printing_Prosthetics.pptx
 

lawfinal-160403042212.pptx

  • 1. THE COMPANIES ACT, 2013 -Kartik Karemore
  • 2. New Concepts • One Person Companies (opc) • Women Directors • Corporate Social Responsibility. • Registered Valuers • Class Action • Dormant Company • Fast Track Mergers • Serious Fraud Investigation Office
  • 3. One Person Company One Person Company is a company with only one person as a member. That one person will be the shareholder of the company. It avails all the benefits of a private limited company such as separate legal entity, protecting personal assets from business liability, and perpetual succession. One Person Company (OPC) is a Company registered with ONLY ONE PERSON as its shareholder. An OPC is classified as a private company under Companies Act.
  • 4. Woman Director Every Listed Company /Public Company with paid up capital of Rs 100 Crores or more / Public Company with turnover of Rs 300 Crores or more shall have at least one Woman Director.
  • 5. Corporate Social Responsibility Corporate Social Responsibility Clause (135) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.
  • 6. Registered Valuers Registered Valuers-Valuation by registered valuers. Clause (247) (1) Where a valuation is required to be made in respect of any property, stocks, shares, debentures, securities or goodwill or any other assets (herein referred to as the assets) or net worth of a company or its liabilities under the provision of this Act, it shall be valued by a person having such qualifications and experience and registered as a valuer in such manner, on such terms and conditions as may be prescribed and appointed by the audit committee or in its absence by the Board of Directors of that company
  • 7. Class Action Class action suits (clause 245) For the first time, a provision has been made for class action suits. It is provided that specified number of member(s), depositor(s) or any class of them, may, if they are of the opinion that the management or control of the affairs of the company are being conducted in a manner prejudicial to the interests of the company or its members or depositors, file an application before the Tribunal on behalf of the members or depositors. Where the members or depositors seek any damages or compensation or demand any other suitable action from or against an audit firm, the liability shall be of the firm as well as of each partner who was involved in making any improper or misleading statement of particulars in the audit report or who acted in a fraudulent, unlawful or wrongful manner. The order passed by the Tribunal shall be binding on the company and all its members, depositors and auditors including audit firm or expert or consultant or advisor or any other person associated with the company.
  • 8. Dormant Company Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company or an inactive company may make an application to the Registrar for obtaining the status of a dormant company.
  • 10. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 1 Types of Companies Public company Private company Public company Private company One Person company 2 Maximum no of members for private companies A private company can have maximum of 50 members A private company can have maximum of 200 members 3 One person company No provision for OPC New Concept Introduced 4 Commencement of business Provisions applicable to public limited company only Now applicable to all companies having share capital
  • 11. Sr No Particular Provisions under Companies Act 1956 Provisions under Companies Act 2013 5 Registered Office Companies are required the Registered office to furnish the details of of the company by filing Form 18 at the time of incorporation. The company is also required to furnish to the Registrar verification of its registered office within a period of 30 days of its incorporation in a prescribed manner. Notice of every change of the situation of the registered office, shall be given to the Registrar within fifteen days of the change, who shall record the same.
  • 12. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 6 Object Clause of MOA Object clause bifurcated into - Main Objects, Incidental or Ancillary Objects and Other Objects MOA to contain the objects for which the company is proposed to be incorporated and any matter considered necessary in furtherance thereof.
  • 14. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 1 First Board Meeting No specific time stipulated for holding first the first board meeting 2 Length of Notice No specific length of notice specified Every company shall hold the first meeting of the Board of Directors within thirty days of the date of its incorporation. Meeting of the Board shall called by giving not less than seven days’ notice 3 Penalty Every officer of the company whose duty is to give notice as aforesaid and who fails to do so shall be punishable with fine which may extend to one thousand rupees. Every officer of the company whose duty is to give notice under this section and who fails to do so shall be liable to a penalty of twenty-five thousand rupees.
  • 15. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 4 Time Gap between two meetings At least one meeting to be held in every quarter. Not more than one hundred intervene between and twenty days shall two consecutive meetings of the Board
  • 16. CHANGES REGARDING ISSUE OF SHARES CAPITAL
  • 17. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 1 Issue of Shares at a discount Section 79 permits issue of shares at discount subject to compliance with conditions. Shares, other than sweat equity shares, cannot be issued at a discount. 2 Issue of preference shares for more than 20 years Section 80 prohibits issueof irredeemable preference shares and preference shares Redeemable after 20 years. Preference shares have to be redeemed within 20 years of issue except for the shares issued for prescribed infrastructure projects, provided a certain percentage of shares are redeemed annually at the option of shareholders
  • 18. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 4 Notice of alteration of share capital Notice of redemption of preference shares is not required to be filed with ROC. 5 Consolidation and division of shares Company permitted to consolidated or sub divide its shares by passing resolution in general meeting Company shall file a notice in the prescribed form with the Registrar within a period of thirty days of redemption of redeemable preference shares. Consolidation and division which results in changes in the voting percentage of shareholders shall require approval of the Tribunal to be effective.
  • 20. Sr Particular No 1 Maximum Number of Directors Provisions under Companies Act 1956 12 2 Maximum number of Directorship 15; Excluding Private companies, Unlimited Companies, Alternate Directorship and Directorship in Non-Profit Associations 3 Resignation of Director No specific provisions except that any change in directors to be filed with ROC within 30 days. Provisions under Companies Act 2013 15. More can be appointed by passing S.R. 20. Out of which not more than 10 can be Public Companies. Includes Alternate Directorship also. No specific exclusions provided Director to send copy of resignation letter and detailed reasons for resignation to Registrar within 30 days of resignation
  • 21. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 4 Composition Board of Minimum of 2 directors in case of private and 3 in case of public companies. Maximum 12 Directors. Prescribed class of companies are required to appoint at least 1 woman director. At least 1 director should be a person who has stayed in India for a period not less than 182 days in previous year. Listed Companies to have atleast one third independent directors. Existing companies to get a transition period of 1 year to comply.
  • 22. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 5 Vacancy of office for not attending board meetings The office of a director shall become vacant if he absents himself from three consecutive meetings of the Board of directors, or from all meetings of the Board, for a continuous period of three months, whichever is longer, without obtaining leave of absence from the Board The office of a director shall become vacant in case he absents himself from all the meetings of the Board of Directors held during a period of twelve months with or without seeking leave of absence of the Board. 6 Disclosures in Board’s report Section 217 contains disclosure requirements of Board’s report Additional Disclosures proposed by the bill, namely, Extract of Annual Return, Number of board meetings, CSR initiatives and policy, particulars of loans, guarantees, investments etc.
  • 23. CHANGES REGARDING CHARGES AND THEIR REGISTRATION
  • 24. Sr Particular No 1 Definition Provisions under Companies Act 1956 Inclusive definition of charge given in the present Act - “Charge to include mortgage”. 2 Registration of all charges Present Act specifies only 9 types of charges which require registration. Provisions under Companies Act 2013 Charge defined as “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 Company are required to register all types of charges within or outside India, on its property or assets or any of its undertakings, whether tangible or otherwise, and situated in or outside India with ROC within 30 days.
  • 25. Sr Particular No Provisions under Companies Act 1956 Provisions under Companies Act 2013 3 Registration of pledge Pledge of movable property does not require registration with ROC. Bill proposes to withdraw this exemption