Companies have also sought clarity about permitting free of cost inspection of records under rule 142 and rule 16 of the rules cited above and till a fee is prescribed for the purpose in the articles. Jan 20, 2011 what are the minimum and maximum numbers of members required for section 25 companies under companies act 1956. Road, ambavadi, ahmedabad 380 015 during the office hours. Companies act the companies act is a successor to the indian companies act of 19 and is a consolidation of many successive amendment acts, statutory rules and principles laid down in decisions of. Memorandum and articles of association of tata communications. The companies act, 1956 section 303 to 674 the schedule. Winding up of the company section 25 company can be wound up if the objects for which it had been established are fully achieved. Different provisions of the companies amendment act, 2017 including any amendments, references in any provisions there in, shall come into force on such date or dates as the central government may, by notification in the official gazette appoints. Section 393 1a in the companies act, 1956 a with every notice calling the meeting which is sent to a creditor or member, there shall be sent also a statement setting forth the terms of the compromise or arrangement and explaining its effect.
These companies may file their returns in the relevant form applicable under the companies act, 1956. Companies act, 1956 bare acts law library advocatekhoj. Various companies have been incorporated under the companies act, 1956. Provisions for facilitating reconstruction and amalgamation of companies. You can also search for keywords within the sections of the act. The companies act, 20 ministry of corporate affairs. The curious case of section 4 7 of the companies act, 1956. This is a ready reckoner for the information of stakeholders. Section 393 1 in the companies act, 1956 1 where a meeting of creditors or any class of creditors, or of members or any class of members, is called under section.
The companies act, 20 has been notified in the official gazette on 30th august, 20. Complaint comment report from december 3, 20 to december 30, 20 33 7. Section 3914 of companies act 1956 answered by expert corporate lawyer. Provisions of ca, 20 and corresponding provisions thereof. Section 92 of companies act, 20 annual return corporate. Section 264 consent of candidate for directorship to be filed with the company and consent to act as director to be filed with the registrar. Section 393 1 in the companies act, 1956 1 where a meeting of creditors or any class of creditors, or of members or any class of members, is called under section 391. India the companies act 1956 sec 25 power to dispense with limited in name of charitable or other company. Table containing provisions of companies act, 20 as notified up to date and corresponding provisions thereof under companies act, 1956. Companies act 2006, section 393 is up to date with all changes known to be in force on or before 22 april 2020. Companies act 1956 section 581b citation 11595 bare act. You can view a specific section, or view all sections grouped by chapters. Under 1956 act, there was no requirement to have independent directors.
A detailed view about section 25 company has been illustrated as under a introduction. Section 393 the companies act,1956 laws and bare acts. Section 210a constitution of national advisory committee on. Please refer to schedule 5 of the new companies act, no. Power to compromise or make arrangements with creditors and members. Dec 31, 2014 the curious case of section 4 7 of the companies act, 1956 this issue is of paramount importance for foreign companies having majority shareholding in indian companies since classification as a. Section 393 1 section 393 complete act try out our. Omitted by the companies amendment act, 1965, act 31 of 1965, w. Companies act 2006, section 393 is up to date with all changes known to be in force on or before 27 april 2020.
Registration offices effective from 1st april, 2014 1 for the purposes of exercising such powers and discharging such functions as are conferred on the central government by or under this act or under the rules made thereunder and for the purposes of registration of companies under this act, the central government shall, by. The surplus assets, if any may be given to a similar charitable concern. Section 25 companies under companies act 1956 legal news. Section 393 in the companies act, 1956 debenture private law. Information as to compromises or arrangements with creditors and members. Similarly, another type of company incorporated under the companies act, 1956 is section 25 companies. Explore the companies act 20 and companies act 1956. Section 372a of the companies act legal service india. Share capital to stand increased where an order is made under section 814. Section 396 of companies act, 20 registration offices. Section 3914 of companies act 1956 free legal advice.
Ca final study material,practice manual for may 2014 download new tax amendments for ca ipcc, final maynov 2014 download. If you agree then only proceed to download companies act 20 pdf. There are changes that may be brought into force at a future date. The provisions of companies act, 1956 is still in force. Full text containing the act, companies act, 1956, with all the sections. All companies act, 20 companies act, 1956 securities and exchange board of india act, 1992 sebi prohibition of fraudulent and unfair trade practice relating to securities market regulation, 2003 sebi stock brokers and subbrokers regulations, 1992 sebi substantial acquisition of shares and takeovers regulations, 19941997 other acts. Section 372a of the companies act, 1956 the act deals with intercorporate loan, investment, guarantee and securities in connection with loan. Definitions of company, existing company, private company and public company 4. Pdf companies act 1956 and 20 pdf download, high quality.
Main provisions of companies act 1956 presented by. Mar 30, 2019 companies amendment act, 2002 had added a new part ixa to the main companies act, 1956 consisting of 46 new sections from 581a to 581zt. Section 391 to 393 procedure for compromises and arrangement through steps 15. Companies act, 1882 6 of 1882, or in table a in the first schedule annexed to the. Companies act 1956 section 227 citation 11158 bare act. Scheme of amalgamation should fulfill the condition of sec. Caa of companies procedure for compromise and arrangement section 391 393 part 2. Act, 19 vii of 19, sanctioning a compro mise or an arrangement. The companies act, 1956 section 303 to 674 the schedule, indian bare acts at, a website for indian laws and bareacts, legal advice. Fairness opinion by ci group global markets india private limited 29 6. The companies act 10fq appeal from order of tribunal. Section 393 in the companies act, 1956 indian kanoon. Changes that have been made appear in the content and are referenced with annotations. The explanatory statement under sec ons 192a2 and 393 1a of the companies act, 1956 and sec on 102 of the companies act, 20, the scheme, a form of proxy with instruc ons and the a endance slip are enclosed herewith.
Table containing provisions of companies act, 20 as notified up to 28. In this section and sections 387b, 387c, 397 and 401, unless the contrary intention appears financial statements means the financial statements of a company required to be prepared by the accounting standards and, in the case of a parent company, means the consolidated financial statements. The pdf file you are about to download is not created by writinglaw. Some of the provisions of the act have been implemented by a notification published on 12th september, 20. Critical aspects and compliances issues of corporate. According to the provisions as prescribed under section 581al of the companies act, 1956, a producer company is a body corporate having objects or activities specified in section 581b and which is. Section 416 contracts by agents of company in which company is undisclosed principal. Explanatory statement under sec on 192a 2 and sec on 393 1 a of the companies act, 1956 and sec on 102 of the companies act, 20 7 4. Section 25 companies in the companies act, 1956 advisory. Directors of a company appointment and legal relationship.
Subject to the provisions of the companies act, 1956 and directives of reserve bank of india, to borrow or raise money or to receive money on deposit or loan including public deposit at interest otherwise in such manner as the company may think fit and in particular by the issue of the debentures or debenture stock or bonds, perpetual or. Transferor company to include any body corporate, whether a co. The 1956 act required that a public company can have one director elected by small shareholders. Copy of the scheme and the statement under section 393 of the companies act, 1956 can be obtained free of charge at the registered office of the company at gandhinagar or at the office of its advocate smt. All the four transactions are frequently taken place in any company and henceforth the section becomes more important and therefore it requires to special heed by virtue of strict penal provisions and. Section 393 in the companies act, 1956 free download as pdf file. Section 263a sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc. Where an application is made to the court under section 391 for the sanctioning of a compromise or arrangement proposed between a company and any such persons as are mentioned in that section. The act consolidates and amends the law relating to companies. Group 1 aarti singh, azhar hussain, jyoti nawlani, nemchand meena, renuka sharma companies act.
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