Salient features of Companies Act ,2013 • STRUCTURE OF COMPANIES ACT,2013:
658 SECTIONS OF 1956 ACT Vs 470 sections 7 schedules ( 15 schedules in 1956 Act) 29 chapters Rule based act therefore not Complete code 348 SECTIONS ,WHREIN RULES TO BE FRAMED SEPERATELY 98 SECTIONS SO FAR NOTIFIED AND OPERATIONAL 4 PHASES OF DRAFT RULES FRAMED
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Salient features of Companies Act ,2013 ONE PERSON COMPANY ENTRECHMENT PROVISIONS IN ARTICLES CHANGE OF NAME ALTERATION OF OBJECT CLAUSE SECTION 8 COMPANIES AMALGAMATION PRIVATE PLACEMENT CLASS ACTION DISGORGEMENT PROVISIONS TRANSFER OF COMPANIES HAVING NO SHARECAPITAL LISTING OF COMPANY BEFORE MAKING PUBLIC OFFER RETURN OF CHANGES IN PROMOTER’S AND TOP 10 SHAREHOLDERS STAKE 20-11-2013
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Salient features of Companies Act ,2013
RIGHT OF CHARGE HOLDERS NOTICE OF GENERAL MEETING IN ELECTRONICS MODE ELECTRONICS VOTING MINUTES OF POSTAL BALLOT EXPLANATORY STATEMENT TO GENERAL MEETING NOTICE QUORAM PROXIES CONSOLODITED FINANCIAL STATEMENTS SUBSIDIARY’S ACCOUNTS ON WEB SITE REOPENING OF ACCOUNTS BY COURT’S ORDER/ MANAGEMENT CORPORATE SOCIAL RESPONSIBILITIES
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Salient features of Companies Act ,2013 MANDATORY INTERNAL AUDIT COMPULSORY ROTATION OF AUDITORS AUDITOR’S OBLIGATION ON HIS RESIGNATION TRIBUNAL’S POWER TO REMOVE AUDITORS AUDITING STANDARDS FRAUD DETECTION AND CA/CS/CWA ‘S DUTIES PROHIBITION ON NON AUDIT SERVICES BY AUDITOR AUDITOR’S PRESENCE IN AGM 20-11-2013
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Salient features of Companies Act ,2013 MANDATORY RESIDENT DIRECTOR WOMEN DIRECTOR INDEPENDENT DIRECTOR REGIGNATION OF DIRECTOR PARTICIPATION IN BOARD MEETING THRU VIDEO CONFERCING BOARD MEETING AND MINIMUM ONE INDEPENDENT DIRECTOR’S PRESENCE FREQUENCY OF BOARD MEETING IN OPC(>1 PERSON DIRECTOR)/DORMANT COMPANY/SMALL CO 20-11-2013
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Salient features of Companies Act ,2013 LAYERS OF SUBSIDIRES IN INVESTMENT COMPANIES STATUTORY RECOGNITION TO SERIOUS FRAUD INVESTIGATION OFFICE AMALGAMTION PROCEDURE SIMPLIFIED CROSS BORDER MEGER OF Ico WITH Fco SQUEEZE OUT PROVISIONS REGISTERED VALUER APPLICATION BY COMPANY FOR REMOVAL OF NAME SUMMARY PROCEDURE FOR LIQUIDATION OF CO < 1 CRORE BOOK VALUE SPECIAL TRIAL COURT U/S 435 COMPUNDING OF OFFENCE –GOV Vs COURT POWER 20-11-2013
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Salient features of Companies Act ,2013 DEFINITION OF FRAUD-U/S 447 ARM’S LENGTH CONCEPT NFRA FORMATION NCLT FORMATION STAKEHODERS RELATIONSHIP COMMITTEE DEFINITION OF PROMOTER NON CASH TRANSACTION WITH DIRECTORS-PRIOR APPROVAL OF GENERAL MEETING
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Salient features of Companies Act ,2013 PROVISIONS( ERSTWHILE ACT 1956) DROPPED UNDER COMPANIES ACT,2013: CERTIFICATE OF INCORPARATION CONCLUSIVE EVIDENCE OF COMPLIANCE CERTIFICATE OF COMMENCEMENT STATEMENT IN LIEU OF PROSPECTUS DEEMED SERVICE BY POST -48 HRS DEDUCTION OF SHARE CAPITAL ..AND REDUCED STATUTORY MEETING CENTRAL GOVT POWER TO REMOVE DISQUALIFICATION OF MORAL TURPITUDE SHARE QUALIFIACTION
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Salient features of Companies Act ,2013 RESTRICTION ON TAX FREE REMUNERATION TO OFICERS AND EMPLOYEES COMPLINACE CERTIFICATE FROM CS –NOT REQUIRED WHOLE TIME DIRCTOR REPORT FROM ROC AND OL UNDER ARRANGEMENT /REORGANISATION SCHEME-394
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Salient features of Companies Act ,2013 PROVISIONS( ERSTWHILE ACT 1956) MODIFIED UNDER COMPANIES ACT,2013: ISSUE OF SHARES AT DISCOUNT-PROHIBITED ISSUE OF BONUS SHARES OUT OF REVALUATION RESERVE DEBENTURE STRUSTEE >500 PERSON REGISTRATION OF CHARGE-EVERY CHARGE PROVISIONS RELATED TO RESOLUTION BY CIRCULATION-NOTING IN SUBSEQUENT MEETING PRIVATE CO- 200 MEMBERS DEPRECIATION 20-11-2013
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Salient features of Companies Act ,2013
P K MODI & CO CHARTERED ACCOUNTANTS A -411 SAFAL PEGASUS, PRAHALAD NAGAR, SATELLITE, AHMEDABAD-380051 Telephone : +91 79 40065204 Email:
[email protected] Web site: www.pkmodi.com 20-11-2013
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