COMPANIES ACT 2013
January 20, 2020
The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August 2013 and came into force on 12th September 2013. The Act consolidates and amends the law relating to companies, it has replaced The Companies Act, 1956 (in a partial manner).
The changes made were like earlier for private companies the maximum number of members were 50 and now it will be 200. A new term of “one-person company” is included in this act that will be a private company and with only 98 provisions of the Act notified. A total of another 184 sections came into force from 1st April 2014.
Article 135 of the Companies Act introduces mandatory CSR (corporate social responsibility) contributions for large companies, making it the only mandatory CSR law in the world