How many sections are there in Companies Act, 1956?
The Companies Act, 1956 (existing Act) contains 658 sections and XV schedules. The Companies Act 2013 has 464 sections and 7 schedules. The Act, has lesser sections as the Companies will be governed more through the rules which are yet to be prescribed.
What is company Act 1956 in detail?
The Companies Act 1956 was an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.
How many sections does a company have?
The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules. However, currently there are only 484 (470-43+57) sections in this Act.
Which of the section from Companies Act, 1956 deals with?
1. Sections 235 and 237 of the Companies Act 1956 empower the Central Government for ordering investigation of the affairs of Companies.
What is the difference between Companies Act 1956 and 2013 PDF?
In Companies Act 1956, only public financial institution, public sector banks or scheduled bank with main object of financing were allowed to issue there shelf prospectus but now Companies Act 2013 provides that the government shall prescribe the types of companies that can issue shelf prospectus.
How many clauses are there in Moa?
six different clauses
Memorandum of Association (MOA) includes six different clauses as mentioned below: Name Clause. Domicile Clause. Objects Clause.
Can directors take loans from Section 8?
Yes a section 8 company can take loan from its members and pay interest thereupon, subject to the provisions of Chapter V of the Act read with rules made thereunder.
What are the 3 main divisions of business?
There are three main types of business activities: operating, investing, and financing.
What are the basic divisions of a company?
Common departments include Marketing, Finance, Operations management, Human Resource, and IT. These five divisions represent the major departments within a publicly traded company, though there are often smaller departments within autonomous firms.
How new Companies Act, 2013 is different from Companies Act, 1956?
What does section 12 of Companies Act, 1956 deals with?
(1) Any seven or more persons, or where the company to be formed will be a private company, any two or more persons, associated for any lawful purpose may, by subscribing their names to a memorandum of association and otherwise complying with the requirements of this Act in respect of registration, form an incorporated …
What is page 1 of the Companies Act 1956?
Page 1 of 332 COMPANIES ACT, 1956 [Act No. 1 OF 1956] PART I : PRELIMINARY Sections 1. Short title, commencement and extent 2.
What is Companies Act?
COMPANIES ACT, 1956 [act no. 1 of 1956] An Act to consolidate and amend the law relating to companies and certain other associations Be it enacted by Parliament in the Sixth Year of the Republic of India as follows : PART I : PRELIMINARY
What words are omitted by the Companies Act 2000?
1. Words “the managing agent, if any, the secretaries and treasurers, if any,” omitted by the Companies (Amendment) Act, 2000 w.e.f. 13-12-2000. 174. QUORUM FOR MEETING
What are the references to documents annexed to company accounts?
CONSTRUCTION OF REFERENCES TO DOCUMENTS ANNEXED TO ACCOUNTS References in this Act to documents annexed or required to be annexed to a company’s accounts or any of them shall not include the Board’s report, the auditors’ report or any document attached or required to be attached to those accounts :