Category: Companies Act 2013
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Section 74: Repayment of deposits, etc., accepted before commencement of this Act.
Provisions on repayment of deposits, etc., accepted before commencement of Companies Act, 2013 is reproduced below: 74. (1) Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due…
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Section 73. Prohibition on acceptance of deposits from public.
Prohibition on acceptance of deposits from public – as contained under section 73 of the Companies Act, 2013 is reproduced below: 73. (1) On and after the commencement of this Act, no company shall invite, accept or renew deposits under this Act from the public except in a manner provided under this Chapter: Provided that…
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Section 135: Corporate Social Responsibility.
Corporate Social Responsibility: 135. (1) 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…
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Section 20: Service of documents.
Service of documents. 20. (1) A document may be served on a company or an officer thereof by sending it to the company or the officer at the registered office of the company by registered post or by speed post or by courier service or by leaving it at its registered office or by means…
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Section 2(87): Subsidiary company or subsidiary.
Subsidiary company or subsidiary. Unless the context requires otherwise, the term ‘subsidiary company’ or ‘subsidiary’ wherever appearing in the Companies Act, 2013 shall have the following meaning: “subsidiary company” or “subsidiary”, in relation to any other company (that is to say the holding company), means a company in which the holding company – (i) controls…
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Section 2(46) Holding company
Chapter I PRELIMINARY Provisions of the Companies Act, 2013: Section 2(46): Holding company. This provision is brought to force with effect from September 12, 2013. Corresponding provisions of the Companies Act, 1956: Section 2(19) and section 4. Corresponding provisions of the English Companies Act, 2006 Section 1159 and Schedule 6. Applicability: Unless the context requires…
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Section 18: Conversion of companies already registered.
Chapter II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO Provisions of the Companies Act, 2013: Section 18: Conversion of companies already registered. For this provision, no rules are prescribed the Companies Rules, 2013. [Section 18 is not yet brought to force.] Section 18 is not a procedural provision. It confers right on companies to convert itself…
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Section 17: Copies of memorandum, articles, etc., to be given to members.
Chapter II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO Provisions of the Companies Act, 2013: Section 17: Copies of memorandum, articles, etc., to be given to members. Rule 2.31 of the Companies Rules, 2013 [Section 17 is not yet brought to force and the Companies Rules, 2013 is not yet brought to force]. Corresponding provisions…
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Section 16: Rectification of name of Company.
Rectification of name of Company. 16. (1) If, through inadvertence or otherwise, a company on its first registration or on its registration by a new name, is registered by a name which,— (a) in the opinion of the Central Government, is identical with or too nearly resembles the name by which a company in existence…
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Section 15: Alteration of memorandum or articles to be noted in every copy.
Chapter II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO Provisions of the Companies Act, 2013: Section 15: Alteration of memorandum or articles to be noted in every copy. [Section 15 is not yet brought to force ] Corresponding provisions of the Companies Act, 1956: Section 40 There is not much change in section 15 and…