Chapter 29 - Corporate Law Reporter

Form MSC-2 of Companies Act, 2013 – Certificate of status of a Dormant Company

Certificate of status of a Dormant Company Pursuant to sub-section (2) of section 455 read with rule 4 of Companies (Miscellaneous) Rules, 2014 Read More

Form MSC-5 of Companies Act, 2013 – Certificate of status of an active Company

Certificate of status of an active Company Pursuant to sub-section (5) of section 455 read with rule 8(2) of Companies (Miscellaneous) Rules, 2014 Read More

Section 463 of Companies Act, 2013 – Power of court to grant relief in certain cases

SECTION 463. POWER OF COURT TO GRANT RELIEF IN CERTAIN CASES [Effective from 12th September, 2013] (1) If in any proceeding for negligence, default, breach of duty, misfeasance or breach of trust against an officer of a company, it appears to the court hearing the case that he is or may be liable in respect… Read More

Section 462 of Companies Act, 2013 – Power to exempt class or classes of companies from provisions of this Act

SECTION 462. POWER TO EXEMPT CLASS OR CLASSES OF COMPANIES FROM PROVISIONS OF THIS ACT [Effective from 12th September, 2013] (1) The Central Government may in the public interest, by notification direct that any of the provisions of this Act,— (a) shall not apply to such class or classes of companies; or (b) shall apply… Read More

Section 461 of Companies Act, 2013 – Annual report by Central Government

SECTION 461. ANNUAL REPORT BY CENTRAL GOVERNMENT [Effective from 12th September, 2013] The Central Government shall cause a general annual report on the working and administration of this Act to be prepared and laid before each House of Parliament within one year of the close of the year to which the report relates. Read More

Section 460 of Companies Act, 2013 – Condonation of delay in certain cases

SECTION 460. CONDONATION OF DELAY IN CERTAIN CASES [Effective from 12th September, 2013] Notwithstanding anything contained in this Act,— (a) where any application required to be made to the Central Government under any provision of this Act in respect of any matter is not made within the time specified therein, that Government may, for reasons… Read More

Section 459 of Companies Act, 2013 – Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications

SECTION 459. POWERS OF CENTRAL GOVERNMENT OR TRIBUNAL TO ACCORD APPROVAL, ETC., SUBJECT TO CONDITIONS AND TO PRESCRIBE FEES ON APPLICATIONS [Effective from 12th September, 2013] (1) Where the Central Government or the Tribunal is required or authorised by any provision of this Act— (a) to accord approval, sanction, consent, confirmation or recognition to,… Read More

Section 458 of Companies Act, 2013 – Delegation by Central Government of its powers and functions

SECTION 458. DELEGATION BY CENTRAL GOVERNMENT OF ITS POWERS AND FUNCTIONS [Effective from 12th September, 2013] (1) The Central Government may, by notification, and subject to such conditions, limitations and restrictions as may be specified therein, delegate any of its powers or functions under this Act other than the power to make rules to such… Read More

Section 457 of Companies Act, 2013 – Non-disclosure of information in certain cases

SECTION 457. NON-DISCLOSURE OF INFORMATION IN CERTAIN CASES [Effective from 12th September, 2013] Notwithstanding anything contained in any other law for the time being in force, the Registrar, any officer of the Government or any other person shall not be compelled to disclose to any court, Tribunal or other authority, the source from where he… Read More

Section 456 of Companies Act, 2013 – Protection of action taken in good faith

SECTION 456. PROTECTION OF ACTION TAKEN IN GOOD FAITH [Effective from 12th September, 2013] No suit, prosecution or other legal proceeding shall lie against the Government or any officer of the Government or any other person in respect of anything which is in good faith done or intended to be done in pursuance of this… Read More

Section 455 of Companies Act, 2013 – Dormant company

SECTION 455. DORMANT COMPANY [Effective from 1st April, 2014] (1) Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company or an inactive company may make an application to the Registrar in such manner… Read More

Section 454 of Companies Act, 2013 – Adjudication of penalties

SECTION 454. ADJUDICATION OF PENALTIES [Effective from 1st April, 2014] (1) The Central Government may, by an order published in the Official Gazette, appoint as many officers of the Central Government, not below the rank of Registrar, as adjudicating officers for adjudging penalty under the provisions of this Act in the manner as may… Read More

Section 453 of Companies Act, 2013 – Punishment for improper use of "Limited" or "Private Limited"

SECTION 453. PUNISHMENT FOR IMPROPER USE OF "LIMITED" OR "PRIVATE LIMITED" [Effective from 12th September, 2013] If any person or persons trade or carry on business under any name or title, of which the word "Limited" or the words "Private Limited" or any contraction or imitation thereof is or are the last word or… Read More