i n. Section 117C [ View Judgements] Liability of company to create security and debenture redemption reserve. However below, later you visit this web page, it will be thus totally simple to acquire as well as download guide mcq questions on company act 1956 It … L a w y e r S e r v i c e s . Read about the highlights of the companies act 2013 and download Indian Companies Act 2013 notes PDF for UPSC 2021. The NCLT provides complete coverage of the Companies Act 2013, Companies Act 1956 and related rules, notifications, circulars, orders, forms etc. MCA regulates corporate affairs in India through the Companies Act, 1956, 2013 and other allied Acts, Bills and Rules. Preamble. Registration of unlimited company as limited, etc. Clause 203 of the amendments in The Indian Companies Act of 1956: This proposed amendment in The Companies Act is for the separation of the office of the Chairman and The Managing Director modified to allow, in certain cases, a class of companies having multiple businesses and separate divisional MDs to appoint the same person as chairman as … Sections of Companies Act, 1956: Corresponding sections of Companies Act, 2013: 658: Section 6 of the General Clauses Act, 1897 (10 of 1897) to apply in addition to sections 645 to 657 of Act: 465: Repeal of certain enactments and savings: Sch.I: Regulations for management of a company limited by shares: Management Act, 2000 Industrial (Development & Regulation) Act, 1951 Intellectual Property Rights. Definitions of" Company"," Existing Company"," Private Company" and" Public Company". 581A. The Companies Act 2013 has 464 sections and 7 schedules. Interpretation of certain words and expressions 3. BE it enacted by Parliament in the Sixth Year of the Republic of India as follows--- Central Government Act Section 3 in The Companies Act, 1956 3. In view of these alterations and developments, the Indian Government decided to replace the old Companies Act, 1956 with a modern version – Companies Act, 2013. 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. Companies Act, 1956. w w w . 1 OF 1956] PART I : PRELIMINARY Sections 1. 79 of 1965) Date of coming into operation : [Throughout Malaysia 15 April 1966, P.U. Definitions 2A. •To protect the interests of large number of shareholders, as there exists separation of ownership from management in a company •To safeguard the interests of creditors Coupled with other statutes dealing with corporate entities, this is an extremely important piece of legislation. i n. Section 77A [ View Judgements] Power of company to purchase its own securities. The Registrar of Companies (ROC) handles incorporation of new companies and the administration of running companies. An Act to consolidate and amend the law relating to companies and certain other associations. The Companies Act 1956 is administered by the Government of India, there for,appointed on 25th October,1950, a committee of 12 members representing various interests under the Chairmanship of Mr. H.C Bhabha.The committee submitted a comprehensive report on all aspects of Company Law in April, 1952.. Definitions of "company", "existing company", "private company" and "public company" 4. Share This. Get detailed information on the Companies Act, provided by Ministry of Corporate Affairs. 14 December 1973) Employees' Securities and Provident Funds, Employees' securities to be deposited in post office savings bank or scheduled Bank, Provisions applicable to provident funds of employees, Right of employee to see bank's receipt for moneys or securities referred to in section 417 or 418, Penalty for contravention of sections 417, 418 and 419, Invoices, etc., to refer to receiver where there is one, Penalty for non-compliance with sections 421 and 422, Application of sections 421 to 423 to receivers and managers appointed by Court and managers appointed in pursuance of an instrument, Liability as contributories of present and past members, Obligations of directors and managers whose liability is unlimited, Contributories in case of death of member, Contributories in case of insolvency of member, Contributories in case of winding up of a body corporate which is a member, Circumstances in which company may be wound up by Court, Company when deemed unable to pay its debts, Transfer of winding up proceedings to District Court, Withdrawal and transfer of winding up from one District Court to another, Power of High Court to retain winding up proceedings in District Court, Jurisdiction of High Court under sections 435, 436 and 437 to be exercised at any time and at any stage, Provisions as to applications for winding up, Right to present winding up petition where company is being wound up voluntarily or subject to Courts supervision, Power of Court to stay or restrain proceedings against company, Order for winding up to be communicated to Official Liquidator and Registrar, Copy of winding up order to be filed with Registrar, Appointment and powers of provisional liquidator, Receiver not to be appointed of assets with liquidator, Statement of affairs to be made to Official Liquidator, Exclusion of certain time in computing periods of limitation, Provision for legal assistance to liquidator, Exercise and control of liquidator's powers, Control of Central Government over liquidators, Appointment and composition of committee of inspection, Constitution and proceedings of committee of inspection, Settlement of list of contributories and application of assets, Payment of debts due by contributory and extent of set-off, Payment into bank of moneys due to company, Moneys and securities paid into Bank to be subject to order of Court, Order on contributory to be conclusive evidence, Power to exclude creditors not proving in time, Power to summon persons suspected of having property of company, etc, Power to order public examination of promoters, directors, etc, Order made in any Court to be enforced by other Courts, Circumstances in which company may be wound up voluntarily, Publication of resolution to wind up voluntarily, Effect of voluntary winding up on status of company, Declaration of solvency in case of proposal to wind up voluntarily, Provisions applicable to a members' voluntary winding up, Power of company to appoint and fix remuneration of liquidators, Board's powers to cease on appointment of a liquidator, Power to fill vacancy in office of liquidator, Notice of appointment of liquidator to be given to Registrar, Power of liquidator to accept shares, etc., as consideration for sale of property of company, Duty of liquidator to call creditors' meeting in case of insolvency, Duty of liquidator to call general meeting at the end of each year, Alternative provisions as to annual and final meetings in case of insolvency, Provisions applicable to a creditor's voluntary winding up, Notice of resolutions passed by creditors' meeting to be given to Registrar, Board's powers to cease on appointment of liquidator, Application of section 494 to a creditors' voluntary winding up, Duty of liquidator to call meetings of company and of creditors at end of each year, Provisions applicable to every voluntary winding up, Application of section 454 to voluntary winding up, Powers and duties of liquidator in voluntary winding up, Body corporate not to be appointed as liquidator, Corrupt inducement affecting appointment as liquidator, Power of Court to appoint and remove liquidator in voluntary winding up, Arrangement when binding on company and creditors, Power to apply to Court to have questions determined or powers exercised, Application of liquidator to Court for public examination of promoters, directors, etc, Power to order winding up subject to supervision, Effect of petition for winding up subject to supervision, Power of Court to appoint or remove liquidators, Powers and obligations of liquidator appointed by court, Appointment in certain cases of voluntary liquidators to office of liquidators, Debts of all descriptions to be admitted to proof, Application of insolvency rules in winding up of insolvent companies, Transfers for benefit of all creditors to be void, Liabilities and rights of certain fraudulently preferred And to 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