Q: What were the contributions of companies act, 2013 ?

Ans: There were some loop holes in companies act, 1956.

Thus, the company act, 2013 was enacted and the major contributions of companies act 2013 are as follows: 

1. Strengthening Woman Contributions 

2. Corporate Social Responsibility 

3. National Company Law Tribunal

4. One Person Company

5. Independent Directors

6. Rotation of Auditors

7. Financial Year

Comments

Post a Comment

Popular posts from this blog

Q: On what type of companies is the companies act, 2013 applicable ?

  Ans:  Company act, 2013 is applicable on the following types of companies: 1.Insurance Company 2. Banking Company 3. Electricity Company 4. Incorporated under this act. 5. Foreign Company( Section 379 to Section 393 of Company act, 2013 ) 6. Special Act Company 7. Limited liability Company 8. Etc. Keywords used:  The concept of the Limited Liability Partnership (LLP) was introduced in India in 2008. The Limited Liability Partnership Act, 2008 regulates the LLPs in India. Minimum two partners are required to incorporate an LLP. However, there is no upper limit on the maximum number of partners of an LLP.
Read more

Q: Which companies do not require MOA and AOA ?

Ans: MOA and AOA, both require registration with the ROC (Registrar of Companies) during the time of incorporation.  These two are the primary documents of the company that serve as the constitution of the company. Both are public documents that can be inspected by anyone internally and externally.  MoA is mandatory for every company whereas AoA is mandatory for private companies only.  The statutory companies and companies registered under limited liability partnership act, 2008 do not require MoA. Thus , such companies do not require MoA and AoA. 
Read more

Q: Elaborate the types of companies on the basis of control ?

Ans:   Companies on the basis of control or Holding :  Holding and Subsidiary Companies  Associate companies or holding companies: As per Section 2(46) “holding company”, in relation to one or more other companies, means a company of which such companies are subsidiary companies. As per Section 2(87) “subsidiary company” or “subsidiary”, in relation to any other company (that is to say the holding company), means a company in which the holding company— (i) controls the composition of the Board of Directors; or (ii) exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies. So , the holding company will have subsidiary company.
Read more