Company bill 2013
Loksabha 18 December 2012
Rajya sabha 8 August 2013
President signature 29 August 2013
Company Act 2013
7 schedules
29 chapters
470 sections
Schedule l -forms of MOA & AOA
Schedule II -Depreciation
Schedule III -format of financial statement
Schedule IV- code of conduct of independent director
Schedule V - appointment of managerial personal and managerial B. remuneration
Schedule VI- meaning of infrastructure facilities
Schedule VII- activities included in CSR
Definition of company
Section 2(20)
Company means a company incorporated under this act or under any provision company law.
Some important point about company
Name end with- limited or private limited except section 8 company.
Owner of company- equity shareholders
Management of company- by board of director
Who will level for work of company- company itself
Features of company
Incorporated association
Separate legal entity
Artificial person
Limited liability- member liability limited company liability unlimited
Separate property
Perpetual succession
Common seal - not mandatory; Company amendment Act 2015
If no common seal then signature of two director
or
company secretary and one director
Separate management-directors
Capacity to sue and be sued
Limitation of action- not beyond article of association and management of association
Winding up- voluntary liquidation and compulsory liquidation
Example reconstruction amalgamation merger reorganisation
Transferability of share
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