Company law in India

The Companies Act, 1956 is the Central law applicable to all Corporate in India. A new Company law is legislated in 2013. It’s called the Companies Act, 2013.

Ministry of Corporate Affairs (‘MCA’) is the administrative arm of the Central Government of India, which administers and implements the Company law.

Some of the provisions (98 in number) of the Companies Act, 2013 law are brought to force by MCA from 12 September 2013 (such provisions which do not required Rules to be notified). From 01 April 2014 few more provisions (184 in number), all seven Schedules to the Act along with Rules are brought to force.

Still provisions relating to, inter alia, National Company Law Tribunal and Special Courts are not brought to force.

Thus, in India currently two Company law is in force, simultaneously.

The new Company law in India, the Companies Act, 2013 has traveled a long journey.

On 18 Dec. 2012 – approved by Lok Sabha (lower house of Parliament)

On 08 Aug. 2013 – approved by Rajya Sabha (upper house of Parliament)

On 29 Aug. 2013 – approved by President of India

Writeup on Implementation of Companies Act contains more details.

%d bloggers like this:

Disclaimer

 

Chamber of Prakash K. Pandya

Advocate, Mediator and Insolvency Professional

The Bar Council of India does not permit advertisement or solicitation by advocates in any form or manner. By accessing this website, http://www.pkpandya.com, you acknowledge and confirm that you are seeking information relating to/from Chamber of Prakash K. Pandya of your own accord and that there has been no form of solicitation, advertisement or inducement by Chamber of Prakash K. Pandya or its members and associates. The content of this website is for informational purposes only and should not be interpreted as soliciting or advertisement.

The visit to this website implies your willing consent, acceptance and agreement to our terms of services including our privacy policy and cookie policy.