Highlights of the Companies Act of 2013

 Highlights of the Companies Act of 2013



  • The companies act has introduced a new concept called the class action suits for shareholders with the view of making the shareholders understand and provide them with enough knowledge on their rights.

  •  The Act gives more powers to shareholders regarding the approval of certain transactions.

 

  • The Act stipulates the appointment of at least one woman director on the board.

 

  • The Act demands a certain class of companies to set aside a certain amount of money for activities that promote corporate social responsibility.

 

  • The companies act has proposed a simple procedure for mergers and amalgamations of a certain class of companies after getting approval from the government

 

  • The Act has increased the number of shareholders in a Private limited Company from 50 to 200.

 

  • The Act provides for the entrenchment of articles of association.


  •  It is mandatory for every company to have at least one director who has stayed in India for not less than 182 days in the previous calendar year.

 

  • The Act allows the rotation of auditors and audit firms in case of publicly traded companies.

Comments

Popular posts from this blog

Private Limited Company Registration by ACSPL

Compliance under Provident Fund

AFTER INCORPORATION OF A COMPANY WHAT ARE THE STEPS TAKEN