Companies Act - Corporate Law Reporter

National Company Law Tribunal Rules, 2016

MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 21st, July 2016 G.S.R (E).—In exercise of the powers conferred by section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely;- 1. Short title and Commencement.—(1) These rules may be called the National Company Law Tribunal Rules,… Read More

National Company Law Appellate Tribunal Rules, 2016

MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 21st, July 2016 G.S.R……..(E).—In exercise of the powers conferred by section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely: [1. Short title and commencement - (1) These rules may be called the National Company Law Appellate Tribunal (Amendment)… Read More

Secretarial Standard on General Meetings

SS-2 SECRETARIAL STANDARD ON GENERAL MEETINGS FollowingisthetextoftheSecretarialStandard-2(SS-2)on“GeneralMeetings”, issued by the Council of the Institute of Company Secretaries of India and approved by the Central Government. Adherence by a company to this Secretarial Standard is mandatory, as per the provisionsoftheCompaniesAct,2013. (In this Secretarial Standard, the Standard portions have been set in bold type.Theseshallbereadinthecontextofthebackgroundmaterialwhich hasbeensetinnormaltype.BoththeStandardportionsandthebackground materialhaveequalauthority).… Read More

Secretarial Standard on Meetings of the Board of Directors (SS-1)

SS-1 SECRETARIAL STANDARD ON MEETINGS OF THE BOARD OF DIRECTORS The following is the text of the Secretarial Standard-1 (SS-1) on “Meetings of the Board of Directors”, issued by the Council of the Institute of Company Secretaries of India and approved by the Central Government. Adherence by a company to this Secretarial Standard is mandatory,… Read More

Section 76A of Companies Act, 2013 – Punishment for contravention of Section 73 or Section 76

SECTION 76A . PUNISHMENT FOR CONTRAVENTION OF SECTION 73 OR SECTION 76 [1][Where a company accepts or invites or allows or causes any other person to accept or invite on its behalf any deposit in contravention of the manner or the conditions prescribed under section 73 or section 76 or rules made thereunder or if… Read More

Schedule 7 of Companies Act, 2013 : Activities which may me Included By Companies in their Corporate Social Responsibility Policies

SCHEDULE VII (See sections 135) [Effective from 1st April, 2014] ACTIVITIES WHICH MAY BE INCLUDED BY COMPANIES IN THEIR CORPORATE SOCIAL RESPONSIBILITY POLICIES Activities relating to:— [1][(i) eradicating hunger, poverty and malnutrition, [2][promoting health care including preventive health care] and sanitation [including contribution to the Swach Bharat Kosh set-up by the Central Government for the… Read More

Schedule 6 of Companies Act, 2013 : Infrastructural Projects/Facilities — Scope Of

SCHEDULE VI (See sections 55 and 186) [Effective from 1st April, 2014] INFRASTRUCTURAL PROJECTS/FACILITIES — SCOPE OF The term "infrastructural projects" or "infrastructural facilities" includes the following projects or activities:— (1) Transportation (including inter modal transportation), includes the following:— (a) roads, national highways, state highways, major district roads, other district roads and village roads, including… Read More

Schedule 5 of Companies Act, 2013 : Appointment and Remuneration of Managing / Whole-Time Director

SCHEDULE V[1] (See sections 196 and 197) [Effective from 1st April, 2014] PART I CONDITIONS TO BE FULFILLED FOR THE APPOINTMENT OF A MANAGING OR WHOLE-TIME DIRECTOR OR A MANAGER WITHOUT THE APPROVAL OF THE CENTRAL GOVERNMENT Appointments No person shall be eligible for appointment as a managing or whole-time director or a manager (hereinafter… Read More

Schedule 4 of Companies Act, 2013 : Code for Independent Directors

SCHEDULE IV [See section 149(8)] [Effective from 1st April, 2014] CODE FOR INDEPENDENT DIRECTORS[1] The Code is a guide to professional conduct for independent directors. Adherence to these standards by independent directors and fulfilment of their responsibilities in a professional and faithful manner will promote confidence of the investment community, particularly minority shareholders, regulators and… Read More

Schedule 3 of Companies Act, 2013 : General Instructions for Preparation of Balance Sheet and Statement of Profit and Loss of a Company

SCHEDULE III[1] (See section 129) [Effective from 1st April, 2014] [2][Division I Financial Statements for a company whose Financial Statements are required to comply with the Companies (Accounting Standards) Rules, 2006. GENERAL INSTRUCTIONS FOR PREPARATION OF BALANCE SHEET AND STATEMENT OF PROFIT AND LOSS OF A COMPANY] General Instructions 1. Where compliance with the requirements… Read More

Schedule 2 of Companies Act, 2013 : Useful Lives to Compute Depreciation

[1]SCHEDULE II (See section 123) [Effective from 1st April, 2014] USEFUL LIVES TO COMPUTE DEPRECIATION PART ‘A’ 1. Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual… Read More

Schedule 1 of Companies Act, 2013 : Memorandum of association of a company limited by shares

SCHEDULE I (See sections 4 and 5) [Effective from 1st April, 2014] [1]TABLE A [2]MEMORANDUM OF ASSOCIATION OF A COMPANY LIMITED BY SHARES 1st.—The name of the company is "...................... Limited/Private Limited". 2nd.—The registered office of the company will be situated in the State of .... 3rd.—(a) The objects to be pursued by the company on… 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