Description
CCH India The Companies Act 2013 By Icsi by CCH
The object of new Companies Act is to replace the existing Companies Act, 1956 in order to achieve more transparency, accountability and promote better Corporate Governance in the functioning of the Companies.Except Section 1 of the Companies Act 2013 (“Act”), which is coming into force at once, remaining provisions of the Act shall come into force, as and when they are notified in official gazette by Central Government. Introduction of new concepts viz. One Person Company, Private Placement, Independent Directors, Appointment of Women Director, Duties of Directors, Rotation of Auditors, Registered Valuer, Corporate Social Responsibility, Nidhi Companies, Class Action.
Key Features:-
- Division of Companies Act, 2013 into 29 Chapters, 470 Sections and 7 Schedules
- Addition of more than 30 new definitions.
- Prohibition of issue of shares on discount, restrictions on Public Deposits.
- Enhanced coverage in Director’s Report, Introduction of Code of Conduct for Independent Directors.
- Rationalization of provisions related to Revival and Rehabilitation of Sick Companies.
- Mandatory compliance with Secretarial Standards.