ranjan says: September 4, 2015 at 2:59 pm There were provisions under the Companies Act, 1956 to protect the interest of the minority shareholders. The Companies Act 1956 was the first Act which governs the various Companies registered in India - DEC 2018 NMIMS Solved Assignments, NMIMS DEC Assignments, NMIMS Ready DEC Assignments, NMIMS 2018 DEC Assignments, NMIMS Customized 2018 DEC Assignments, NMIMS Unique Assignments, NMIMS Best 2018 Assignments. 1 OF 1956] PART I : PRELIMINARY Sections 1. To distribute among the members in specie or in kind any property of the Company or any proceeds of sale or disposal of any property of the Company in the event of winding up so that no distribution amounting … Get details of the ministries affiliated offices such as the Company Law Board, Monopolies and Restrictive Trade Practices Commission (MRTPC), Competition... Get information about the various schemes of Ministry of Corporate Affairs. MCA regulates corporate affairs in India through the Companies Act, 1956, 2013 and other allied Acts, Bills and Rules. Share This. Generally, a single person is incapable of gathering it all alone, and even if he is capable of doing so, still he prefers others to join him because of … Under the Companies Act, 1956 maintenance of books of accounts is mandatory for every class of companies. The Companies Act 2013 has 464 sections and 7 schedules. Section 416 Contracts by agents of company in which company is undisclosed principal. Answers for the FAQs are available. Content Introduction Definition Characteristics of A Company Types of company 2. (a) "the Act" means the Companies Act, 1956, (b) "the seal" means the common seal of the company. Companies Act, 1956 - upto Section 302 (Repealed) Application of section 159 to Foreign Companies Rules, 1975; Companies (Amendment) Act, 2006; Companies (Appointment and Qualifications of Secretary) Rules, 1988; Companies (Appointment of Sole Agents) Rules, 1975; Companies (Appointment of the Small Shareholders' Director) Rules, 2001 The Companies Act 1956 – 1st Page Repealed – See The Companies Act 2013 The Companies Act 1956 – 2nd Page Repealed – See The Companies Act 2013. It contains 658 sections and XV schedules and numerous forms. This Portal is a Mission Mode Project under the National E-Governance Plan, designed and developed by National Informatics Centre (NIC), Ministry of Electronics & Information Technology, Government of India. 1911, the Companies Act, 1926, the Administration of Justice (Further Amendment) Act, 1927, the Insolvency Act, 1936, the Deeds Registries Act, 1937, the Prescription Act, 1943, the Magistrates' Courts Act, 1944, the Second-hand Goods Act, 1955 and the Criminal Procedure Act, 1955. (2) in the State of Jammu and Kashmir, or any part thereof, before the commencement of the Jammu and Kashmir (Extension of Laws) Act, 1956 (62 of 1956), 2 [in so far as banking, insurance and financial corporations are concerned, and before the commencement of the Central Laws (Extension to Jammu and Kashmir) Act, 1968 (25 of 1968) insofar as other corporations are concerned];] and It mentions what type … COMPANIES ACT, 1956 [Act No. The Companies Act, 1956 (existing Act) contains 658 sections and XV schedules. Please wait.. 2 [PART IXA CHAPTER I PRODUCER COMPANIES. Compare Section. The Companies Act 71 of 2008 aims: to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of foreign companies carrying on business within the Republic; Definitions 2A. Rajya Sabha. Repeals 4. Companies Act, 1956. w w w . Last reviewed and updated on 22 Jun, 2017, Information about schemes of Ministry of Corporate Affairs, Detailed Demands for Grants, Ministry of Corporate Affairs, Ministry of Electronics & Information Technology. In the case of private limited companies the matters of further issue are normally protected by appropriate clauses in the Articles of Association (“AOA ”), as section 81 is not applicable to private limited companies. Companies Act 1956. 168/1966] Reprinted : First Reprint 1988, Second Reprint 1995, Third Reprint 2000: Revised up to : 1973 (As Act 125 w.e.f. Repealed – See The Companies Act 2013 303. An Act to consolidate and amend the law relating to companies and certain other associations. Companies Act, 1956 or any other law for the time being in force. Users can access links for getting complete details on the acts. A company means a group of persons associated together for the attainment of a common end, social or economic. But the minority has been incapable or unwilling due to lack of time, recourse or capability- financial or otherwise. 3-4-1970], Table of fees to be paid to the Registrar, Form in which sections 539 to 544 of Act are to apply to cases where an application is made under section 397 or 398, Conditions to be fulfilled for the appointment of a managing or whole-time director or a manager without the approval of the Central Government, Provisions applicable to Parts I and II of this schedule. IPCC suggestions and requirements. Get detailed information on the Companies Act, provided by Ministry of Corporate Affairs. Definition of ultimate holding company 5B. Definitions of "company", "existing company", "private company" and "public company" 4. This is the National Portal of India, developed with an objective to enable a single window access to information and services being provided by the various Indian Government entities. Several changes were accepted vide the proposed amendments in The Indian Companies Act of 1956. Books of accounts are a prime source of information through which information can be extracted about a Company. Reply. Sec 2 - Definitions. 14 December 1973) Companies act 1956-ppt 1. 1 in so far as banking, insurance and financial corporations are concerned, and … This act was enacted in 1956 by Parliament of India on 1st April 1956 and Companies act 2013 was in year 2013 by Parliament of India on 1st April 2014. A list of year wise category and description for various Rules, Master Circular, Circulars, and Notification under the Act is also available in links. Find out what has changed by comparing corresponding section of 2013 & 1956 Act in a single window. A person desirous of running a large business house needs huge amount of money and resources. Revised legislation carried on this site may not be fully up to date. it is an autonomous, multipartite, non-profit organization with equal representation from employers’ & workers’ organizations and Government, apart from technical & professional institutions and other interests. In this Act, unless the context otherwise requires, (1) "abridged prospectus" means a memorandum containing such salient features of a prospectus as may be prescribed; (1A) " alter " and " alteration " shall include the making of additions and omissions ; Features Of a Companys Act,1956 The Companies Act is the longest piece of legislation ever passed by our Parliament. Users can access links for getting complete details on … Interpretation 5. Section 79A Issue of sweat equity shares. This act was enacted in 1956 by Parliament of India on 1st April 1956 and Companies act 2013 was in year 2013 by Parliament of India on 1st April 2014. Meaning of "holding company" and "subsidiary" 4A. Conclusiveness of certificate of incorporation, Provision as to companies limited by guarantee, Effect of alteration in memorandum or articles, Copies of memorandum and articles, etc., to be given to members, Alteration of memorandum or articles, etc., to be noted in every copy, Consequences of default in complying with conditions constituting a company a private company, Private company to become public company in certain cases, Prospectus or statement in lieu of prospectus to be filed by private company on ceasing to be private company, Members severally liable for debts where business carried on with fewer than seven, or in the case of a private company, two members, Investments of company to be held in its own name, Power for company to have official seal for use outside India, Service of documents on members by company, Authentication of documents and proceedings, Powers of Securities and Exchange Board of India, Matters to be stated and reports to be set out in prospectus, Expert to be unconnected with formation or management of company, Expert's consent to issue of prospectus containing statement by him, Deposits not to be invited without issuing an advertisement, Default in acceptance or refund of deposits to be cognizable, Provisions relating to prospectus to apply to advertisement, Terms of contract mentioned in prospectus or statement in lieu of prospectus, not to be varied, Civil liability for mis-statements in prospectus, Criminal liability for misstatements in prospectus, Document containing offer of shares or debentures for sale to be deemed prospectus, Interpretation of provisions relating to prospectuses.