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EFFECTIVE DATES FOR THE PROVISIONS OF COMPANIES ACT, 2013

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EFFECTIVE DATES FOR THE PROVISIONS OF COMPANIES ACT, 2013
Mr. M. GOVINDARAJAN By: Mr. M. GOVINDARAJAN
January 24, 2017
All Articles by: Mr. M. GOVINDARAJAN       View Profile
  • Contents

EFFECTIVE DATES FOR THE PROVISIONS OF COMPANIES ACT, 2013

The provisions of Companies Act, 2013 have been made effective from various dates through various notifications .  This statement containing the number of the section and the effective date is given for the information of the  readers.  Any correction in this may please be informed to my email id [email protected]

Section

Description

Date of effect

 

 

CHAPTER - I PRELIMINARY

 

 

1

Short title, extent, commencement and application

12.9.2013

 

 

Definitions

 

 

2(1)

Abridged prospectus

12.09.2013

 

2(2)

Accounting Standards

01.04.2014

 

2(3)

Alter or alteration

12.09.2013

 

2(4)

Appellate Tribunal

12.09.2013

 

2(5)

Articles

12.09.2013

 

2(6)

Associate Company

12.09.2013

 

2(7)

Auditing Standards

01.04.2014

 

2(8)

Authorized capital or Nominal Capital

12.09.2013

 

2(9)

Banking company

12.09.2013

 

2(10)

Board of Directors or Board

12.09.2013

 

2(11)

Body Corporate or corporation

12.09.2013

 

2(12)

Book and paper' and 'book or paper'

12.09.2013

 

2(13)

Books of account

01.04.2014

 

2(14)

Branch office

12.09.2013

 

2(15)

Called up capital

12.09.2013

 

2(16)

Charge

12.09.2013

 

2(17)

Chartered Accountant

12.09.2013

 

2(18)

Chief Executive Officer

12.09.2013

 

2 (19)

Chief Financial Officer

12.09.2013

 

2(20)

Company

12.09.2013

 

2(21)

Company limited by guarantee

12.09.2013

 

2(22)

Company limited by shares

12.09.2013

 

2(23)

Company liquidator

15.12.2016

 

2(24)

Company Secretary or secretary

12.09.2013

 

2(25)

Company Secretary in practice

12.09.2013

 

2(26)

Contributory

12.09.2013

 

2(27)

Control

12.09.2013

 

2(28)

Cost Accountant

12.09.2013

 

2(29) except (iv)

Court

12.09.2013

 

2(29) (v)

Court

18.05.2016

 

2(30)

Debenture

12.09.2013

 

2(31)

Deposit

01.04.2014

 

2(32)

Depository

12.09.2013

 

2(33) 

Derivative

12.09.2013

 

2(34)

Director

12.09.2013

 

2(35)

Dividend

12.09.2013

 

2(36)

Document

12.09.2013

 

2(37)

Employees’ Stock Option

12.09.2013

 

2(38)

Expert

12.09.2013

 

2(39)

Financial Institution

12.09.2013

 

2(40)

Financial Statement

12.09.2013

 

2(41)

Financial year

01.04.2014

 

2(42)

Foreign company

01.04.2014

 

2(43)

Free reserves

12.09.2013

 

2(44)

Global Depository Receipt

12.09.2013

 

2(45)

Government Company

12.09.2013

 

2(46)

Holding Company

12.09.2013

 

2(47)

Independent Director

01.04.2014

 

2(48)

Indian Depository Receipt

01.04.2014

omitted

2(49)

Interested director

12.09.2013

 

2(50)

Issued Capital

12.09.2013

 

2(51)

Key Managerial personnel

12.09.2013

 

2(52)

Listed company

12.09.2013

 

2(53)

Manager

12.09.2013

 

2(54)

Managing Director

12.09.2013

 

2(55)

Member

12.09.2013

 

2(56)

Memorandum

12.09.2013

 

2(57)

Net worth

12.09.2013

 

2(58)

Notification

12.09.2013

 

2(59)

Officer

12.09.2013

 

2(60)

Officer who is in default

12.09.2013

 

2(61)

Official Liquidator

12.09.2013

 

2(62)

One Person Company

01.04.2014

 

2(63)

Ordinary or special resolution

12.09.2013

 

2(64)

Paid up share capital or share capital paid up

12.09.2013

 

2(65)

Postal ballot

12.09.2013

 

2(66)

Prescribed

12.09.2013

 

2(67) except (ix)

Previous Company Law

12.09.2013

 

2(67)(ix)

The Registration of Companies (Sikkim) Act, 1961

 

 

2(68)

Private Company

12.09.2013

 

2(69)

Promoter

12.09.2013

 

2(70)

Prospectus

12.09.2013

 

2(71)

Public company

12.09.2013

 

2(72)

Public financial institution

12.09.2013

 

2(73)

Recognized stock exchange

12.09.2013

 

2(74)

Register of Companies

12.09.2013

 

2(75)

Registrar

12.09.2013

 

2(76)

Related party

12.09.2013

 

2(77)

Relative

12.09.2013

 

2(78)

Remuneration

12.09.2013

 

2(79)

Schedule

12.09.2013

 

2(80)

Scheduled Bank

12.09.2013

 

2(81)

Securities

12.09.2013

 

2(82)

Securities and Exchange Board of India

12.09.2013

 

2(83)

Serious Fraud Investigation Office

01.04.2014

 

2(84)

Share

12.09.2013

 

2(85)

Small company

01.04.2014

 

2(86)

Subscribed capital

12.09.2013

 

2(87) except proviso and Explanation (d)

Subsidiary Company or subsidiary

12.09.2013

 

Proviso and Explanation (d)

Definition 'layer'

01.04.2014

omitted

2(88)

Sweat equity shares

12.09.2013

 

2(89)

Total voting power

12.09.2013

 

2(90)

Tribunal

12.09.2013

 

2(91)

Turnover

12.09.2013

 

2(92)

Unlimited company

12.09.2013

 

2(93)

Voting right

12.09.2013

 

2(94)

Whole time director

12.09.2013

 

2(95)

Meaning of certain and expressions not defined in the Act

12.09.2013

 

 

CHAPTER II - INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO

 

 

3

Formation of company

01.04.2014

 

4

Memorandum

01.04.2014

 

5

Articles

01.04.2014

 

6

Act to override memorandum, articles, etc

01.04.2014

 

7 (except 7 (7))

Incorporation of company

01.04.2014

 

7(7)(a)(b)

Order of Tribunal

01.06.2016

 

7(7)©(d)

Order of Tribunal

15.12.2016

 

8 (except 8(9))

Formation of companies with charitable objects, etc.

01.04.2014

 

8(9)

Order of Tribunal

15.12.2016

 

9

Effect of registration

01.04.2014

 

10

Effect of memorandum and articles

01.04.2014

 

11

Commencement of Business etc.,

01.04.2014

Omitted w.e.f. 29.05.2015

12

Registered Office of company

01.04.2014

 

13

Alteration of memorandum

01.04.2014

 

14(except 2nd proviso to 14(1) & 14(2)

Alteration of Articles

01.04.2014

 

2nd proviso to 14(1) & 14(2)

Alteration of Articles

01.06.2016

 

15

Alteration of memorandum or articles to be noted in every copy

01.04.2014

 

16

Rectification of name of company

01.04.2014

 

17

Copies of memorandum, articles etc., to be given to members

01.04.2014

 

18

Conversion of companies already registered

01.04.2014

 

19

Subsidiary company not to hold shares in its holding company

12.09.2013

 

20

Service of documents

01.04.2014

 

21

Authentication of documents, proceedings and contracts

12.09.2013

 

22

Execution of bills of exchange etc.,

12.09.2013

 

 

CHAPTER III - PROSPECTUS AND ALLOTMENT OF SECURITIES

 

 

 

PART I - PUBLIC OFFER

 

 

23(except 23(1)(b) and 23(2)

Public Offer and private placement

12.09.2013

 

23(1)(b) & (2)

Public Offer and private placement

01.04.2014

 

24

Power of Securities and  Exchange Board to regulate issue and transfer of securities etc.,

12.09.2013

 

25(except 25(3))

Document containing offer of securities for sale to be deemed prospectus

12.09.2013

 

25(3)

Document containing offer of securities for sale to be deemed prospectus

01.04.2014

 

26

Matters to be stated in prospectus

01.04.2014

 

27

Variation in terms of contract or objects in prospectus

01.04.2014

 

28

Offer of sale of shares by certain members of a company

01.04.2014

 

29

Public offer of securities to be in dematerialized form

12.09.2013

 

30

Advertisement of prospectus

12.09.2013

 

31

Shelf prospectus

12.09.2013

 

32

Red herring prospectus

12.09.2013

 

33 (except 33(3))

Issue of application forms for securities

12.09.2013

 

33(3)

Issue of application forms for securities

01.04.2014

 

34

Criminal liability for misstatements in prospectus

12.09.2013

 

35(except (35(1)(e))

Civil liability for mis-statement in prospectus

12.09.2013

 

35(1)(e)

Civil liability for mis statement in prospectus

01.04.2014

 

36

Punishment for fraudulently inducing persons to invest money

12.09.2013

 

37

Action by affected persons

12.09.2013

 

38

Punishment for personation for acquisition, etc., of securities

12.09.2013

 

39 (except 39(4))

Allotment of securities by company

12.09.2013

 

39(4)

Allotment of securities by company

01.04.2014

 

40(except 40(6)

Securities to be dealt with in stock exchanges

12.09.2013

 

40 (6)

Securities to be dealt with in stock exchanges

01.04.2014

 

41

Global depository receipt

01.04.2014

 

 

PART II - PRIVATE PLACEMENT

 

 

42

Offer or invitation for subscription of securities on private placement

01.04.2014

 

 

CHAPTER IV - SHARE CAPITAL AND DEBENTURE

 

 

43

Kinds of share capital

01.04.2014

 

44

Nature of shares or debentures

12.09.2013

 

45

Numbering of shares

12.09.2013

 

46

Certificate of shares

01.04.2014

 

47

Voting rights

01.04.2014

 

48

Variation of shareholders rights

15.12.2016

 

49

Calls on shares of same class to be made on uniform basis

12.09.2013

 

50

Company to accept unpaid share capital although not called up

12.09.2013

 

51

Payment of dividend in proportion to amount paid up

12.09.2013

 

52

Application for premiums received on issue of shares

01.04.2014

 

53

Prohibition on issue of shares as discount

01.04.2014

 

54

Issue of sweat equity shares

01.04.2014

 

55 (except 55(3)

Issue and redemption of preference shares

01.04.2014

 

55(3)

Issue and redemption of preference shares

01.06.2016

 

56

Transfer and transmission of securities

01.04.2014

 

57

Punishment for personation of shareholder

12.09.2013

 

58

Refusal of registration and appeal against refusal

12.09.2013

 

59

Rectification of register of members

12.09.2013

 

60

Publication of authorized, subscribed and paid up capital

12.09.2013

 

61 (except proviso to 61(1)(b)

Power of limited company to alter its share capital

01.04.2014

 

Proviso to Section 61 (1)(b)

Consoliation and division of all or any of share capital

01.06.2016

 

62 (except 62 (4) to (6)

Further issue of share capita

01.04.2014

 

62 (4) to (6)

Further issue of share capita

01.06.2016

 

63

Issue of bonus shares

01.04.2014

 

64

Notice to be given to Registrar for alteration of share capital

01.04.2014

 

65

Unlimited company to provide for reserve share capital on conversion into limited company

12.09.2013

 

66

Reduction of share capital

15.12.2016

 

67

Restrictions on purchase by company or giving loans by it for purchase of its shares

01.04.2014

 

68

Power of company to purchase its own securities

01.04.2014

 

69

Transfer of certain sums to capital redemption reserve account

12.09.2013

 

70 (except 70(2)

Prohibition for buy back in certain circumstances

12.09.2013

 

70(2)

Prohibition for buy back in certain circumstances

01.04.2014

 

71 (except 71 (9) to (11)

Debentures

01.04.2014

 

71 (9) to (11)

Debentures

01.06.2016

 

72

Power to nominate

01.04.2014

 

 

CHAPTER - V - ACCEPTANCE OF DEPOSITS BY COMPANIES

 

 

73

Probation on acceptance of deposits from public

01.04.2014

 

74 (1)

Repayment of deposits etc., accepted before commencement of the Act

01.04.2014

 

74 (2) & (3)

Repayment of deposits etc., accepted before commencement of the Act

06.06.2014

 

75

Damages for fraud

01.06.2016

 

76

Acceptance of deposits from public by certain companies

01.04.2014

 

76A

Punishment for contravention of Section 73 and 76

29.05.2014

 

 

CHAPTER VI - REGISTRATION OF CHARGES

 

 

77

Duty to register charges etc.,

01.04.2014

 

78

Application for registration of charge

01.04.2014

 

79

Section 77 to apply in certain matters

01.04.2014

 

80

Date of notice of charge

01.04.2014

 

81

Register of charges to be kept by Registrar

01.04.2014

 

82

Company to report satisfaction of charge

01.04.2014

 

83

Power of Registrar to make entries of satisfaction and release in absence of intimation from company

01.04.2014

 

84

Intimation of appointment of receiver or manager

01.04.2014

 

85

Company’s register of charges

01.04.2014

 

86

Punishment for contravention

12.09.2013

 

87

Rectification by Central Government in register of charges

01.04.2014

 

 

CHAPTER VII - MANAGEMENT AND ADMINISTRATION

 

 

88

Register of members, etc.,

01.04.2014

 

89

Declaration in respect of beneficial interest in any share

01.04.2014

 

90

Investigation of beneficial ownership of shares in certain cases

01.04.2014

 

91

Power to close register of members or debenture holders or other security holders

12.09.2013

 

92

Annual return

01.04.2014

 

93

Return to be filed with Registrar in case promoters’ stake changes

01.04.2014

 

94

Place of keeping and inspection of registers, returns, etc.,

01.04.2014

 

95

Registers etc., to be evidence

01.04.2014

 

96

Annual general meeting

01.04.2014

 

97

Power of Tribunal to call annual general meeting

01.06.2016

 

98

Power to Tribunal to call meetings of members, etc.,

01.06.2016

 

99

Punishment for default in complying with the provisions of Sections 96 to 98

01.06.2016

 

100 (except 100(6)

Calling of extraordinary general meeting

12.09.2013

 

100 (6)

Reimbursement of expenses incurred by requisitionists

01.04.2014

 

101

Notice of meeting

01.04.2014

 

102

Statement to be annexed to notice

12.09.2013

 

103

Quorum for meetings

12.09.2013

 

104

Chairman of meetings

12.09.2013

 

105 (except 3rd and 4th proviso to 105 (1) (7)

Proxies

12.09.2013

 

105(1), 3rd and 4th proviso to 105 (7)

Proxies

01.04.2014

 

106

Restriction on voting rights

12.09.2013

 

107

Voting by show of hands

12.09.2013

 

108

Voting through electronic means

01.04.2014

 

109

Demand for poll

01.04.2014

 

110

Postal ballot

01.04.2014

 

111

Circulation of members’ resolution

12.09.2013

 

112

Representation of President and Governors in meetings

12.09.2013

 

113(except 113(1)(b)

Representation of corporations at meeting of companies and creditors

12.09.2013

 

113(1)(b)

Representation of corporations at meeting of companies and creditors

01.04.2014

 

114

Ordinary and special resolutions

12.09.2013

 

115

Resolutions requiring special notice

01.04.2014

 

116

Resolutions passed at adjourned meeting

12.09.2013

 

117

Resolutions and agreements to be filed

01.04.2014

 

118

Minutes of proceedings of general meeting, meeting of Board of Directors and other meeting and resolutions passed by postal ballot

01.04.2014

 

119(except 119 (4)

Inspection of minute books of general meeting

01.04.2014

 

119 (4)

Order of Tribunal

01.06.2016

 

120

Maintenance and inspection of documents in electronic form

01.04.2014

 

121

Report on annual general meeting

01.04.2014

 

122

Applicability of this chapter to One Person Company

01.04.2014

 

 

CHAPTER VIII - DECLARATION AND PAYMENT OF DIVIDEND

 

 

123

Declaration of dividend

01.04.2014

 

124(1) to (4)

Unpaid dividend account

07.09.2016

 

124 (5)

Unpaid dividend account

 

 

125 (1) to (6)

Investor Education and Protection Fund

 

 

125(7)

Investor Education and Protection Fund

 

 

125 (8) to 11

Investor Education and Protection Fund

07.09.2016

 

126

Right to dividend, rights shares and bonus shares to be held in abeyance pending registration of transfer of shares

01.04.2014

 

127

Punishment for failure to distribute dividends

12.09.2013

 

 

CHAPTER IX - ACCOUNTS OF COMPANIES

 

 

128

Books of account, etc., to be kept by company

01.04.2014

 

129

Financial statement

01.04.2014

 

130

Re-opening of accounts on Court’s or Tribunal’s orders

01.06.2016

 

131

Voluntary revision of financial statements or Board’s report

01.06.2016

 

132

Constitution of National Financial Reporting Authority

 

 

133

Central Government to prescribe accounting standards

12.09.2013

 

134

Financial statement, Board’s report etc.,

01.04.2014

 

135

Corporate Social Responsibility

01.04.2014

 

136

Right of member to copies of audited financial statement

01.04.2014

 

137

Copy of financial statement to be filed with Registrar

01.04.2014

 

138

Internal audit

01.04.2014

 

 

CHAPTER X - AUDIT AND AUDITORS

 

 

139

Appointment of auditors

01.04.2014

 

140(except 2nd proviso to Section 140(4) (5)

Removal, resignation of auditor and giving of special notice

01.04.2014

 

2nd proviso to Section 140 (4) & (5)

Removal, resignation of auditor and giving of special notice

01.06.2016

 

141

Eligibility, qualifications and disqualifications of auditors

01.04.2014

 

142

Remuneration of auditors

01.04.2014

 

143

Powers and duties of auditors and auditing standards

01.04.2014

 

144

Auditor not to render certain services

01.04.2014

 

145

Auditor to sign audit reports, etc.,

01.04.2014

 

146

Auditors to attend general meeting

01.04.2014

 

147

Punishment for contravention

01.04.2014

 

148

Central Government to specify audit of items of cost in respect of certain companies.

01.04.2014

 

 

CHAPTER XI - APPOINTMENT AND QUALIFICATIONS OF DIRECTORS

 

 

149

Company to have Board of Directors

01.04.2014

 

150

Manner of selection of independent directors and maintenance of data bank of independent directors

01.04.2014

 

151

Appointment of director elected by small shareholders

01.04.2014

 

152

Appointment of directors

01.04.2014

 

153

Application for allotment of Director Identification Number

01.04.2014

 

154

Allotment of Director Identification Number

01.04.2014

 

155

Prohibition to obtain more than one Director Identification Number

01.04.2014

 

156

Director to intimate Director Identification Number

01.04.2014

 

157

Company to inform Director Identification Number

01.04.2014

 

158

Obligation to indicate Director Identification Number

01.04.2014

 

159

Punishment  for contravention

01.04.2014

 

160

Right of persons other than retiring directors to stand for directorship

01.04.2014

 

161 (except 161(2)

Appointment of additional director, alternate director and nominee director

12.09.2013

 

161(2)

Appointment of additional director, alternate director and nominee director

01.04.2014

 

162

Appointment of directors to be voted individually

12.09.2013

 

163

Option to adopt principle of proportional representation for appointment of directors

12.09.2013

 

164

Disqualifications for appointment of director

01.04.2014

 

165

Number of directorships

01.04.2014

 

166

Duties of directors

01.04.2014

 

167

Vacation of office of director

01.04.2014

 

168

Resignation of director

01.04.2014

 

169 (except 169 (4)

Removal of directors

01.04.2014

 

169 (4)

Removal of directors

01.06.2016

 

170

Register of directors and key managerial personnel and their shareholding

01.04.2014

 

171

Member’s right to inspect

01.04.2014

 

172

Punishment

01.04.2014

 

 

CHAPTER XII - MEETINGS OF BOARD AND ITS POWERS

 

 

173

Meetings of Board

01.04.2014

 

174

Quorum for meetings of Board

01.04.2014

 

175

Passing of resolution by circulation

01.04.2014

 

176

Defects in appointment of directors not to invalidate actions taken

12.09.2013

 

177

Audit committee

01.04.2014

 

178

Nomination and remuneration Committee and Stakeholders Relationship Committee

01.04.2014

 

179

Powers of Board

01.04.2014

 

180

Restrictions on powers of Board

12.09.2013

 

181

Company to contribute to bona fide and charitable funds etc.,

12.09.2013

 

182

Prohibitions and restrictions regarding political contributions

12.09.2013

 

183

Power of Board and other persons to make contributions to National Defence Fund, etc.,

12.09.2013

 

184

Disclosure of interest by director

01.04.2014

 

185

Loan to directors, etc.,

12.09.2013

 

186

Loan and investment by company

01.04.2014

 

187

Investments of company to be held in its own name

01.04.2014

 

188

Related party transactions

01.04.2014

 

189

Register of contracts and arrangements in which directors are interested

01.04.2014

 

190

Contract of employment with managing or whole time directors

01.04.2014

 

191

Payment to director for loss of office etc., in connection with transfer of undertaking, property or shares

01.04.2014

 

192

Restriction on non cash transactions involving directors

12.09.2013

 

193

Contract by One Person Company

01.04.2014

 

194

Prohibition on forward dealings in securities of company by director or a key managerial personnel

12.09.2013

 

195

Probation on insider trading of securities

12.09.2013

 

 

CHAPTER XIII - APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL

 

 

196

Appointment of managing director, whole time director or manager

01.04.2014

 

197

Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits

01.04.2014

 

198

Calculation of profits

01.04.2014

 

199

Recovery of remuneration in certain cases

01.04.2014

 

200

Central Government or company to fix limit with regard to remuneration

01.04.2014

 

201

Forms of, and procedure in relation to, certain applications

01.04.2014

 

202

Compensation for loss of office of managing or whole time director or manager

12.09.2013

 

203

Appointment of key managerial personnel

01.04.2014

 

204

Secretarial audit for bigger companies

01.04.2014

 

205

Functions of company secretary

01.04.2014

 

 

CHAPTER XIV - INSPECTION, INQUIRY AND INVESTIGATION

 

 

206

Power to call for information, inspect books and conduct inquiries

01.04.2014

 

207

Conduct of inspection and inquiry

01.04.2014

 

208

Report on inspection made

01.04.2014

 

209

Search and seizure

01.04.2014

 

210

Investigation into affairs of company

01.04.2014

 

211

Establishment of Serious Fraud Investigation Office

01.04.2014

 

212

Investigation into affairs of company by Serious Fraud Investigation Office

01.04.2014

*

213

Investigation into company’s affairs in other cases

01.06.2016

 

214

Security for payment of costs and expenses of investigation

01.04.2014

 

215

Firm, body corporate or association not to be appointed as inspector

01.04.2014

 

216(except 216(2)

Investigation of ownership of company

01.04.2014

 

216(2)

Appointment of inspector by CentralGovernment on directions of Tribunal

01.06.2016

 

217

Procedure, powers etc, of inspectors

01.04.2014

 

218

Protection of employees during investigation

01.06.2016

 

219

Power of inspector to conduct investigation into affairs of related companies etc.,

01.04.2014

 

220

Seizure of documents by inspector

01.04.2014

 

221

Freezing of assets of company on inquiry and investigation

01.06.2016

 

222

Imposition of restrictions upon securities

01.06.2016

 

223

Inspector’s report

01.04.2014

 

224 (except 224(2) (5)

Action to be taken in pursuance of Inspector’s report

01.04.2014

 

224(2)

Petition for winding up by Central Government

15.12.2016

 

224(5)

Disgorgement of asset,property or cash

01.06.2016

 

225

Expenses of investigation

01.04.2014

 

226

Voluntary winding up of company, etc., not to stop investigation proceedings

15.12.2016

 

227

Legal advisers and bankers do not disclose certain information

09.09.2016

 

228

Investigation, etc., of foreign companies

01.04.2014

 

229

Penalty for furnishing false statement, mutilation, destruction of documents

01.04.2014

 

 

CHAPTER XV - COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS

 

 

230 (except 230 (11) (12)

Power to compromise or make arrangements with creditors and members

15.12.2016

 

230 (11)

Compromise or arrangement in respect of any buy back of securities

 

 

230 (12)

Compromise or arrangement including takeover offer

 

 

231

Power of Tribunal to enforce compromise or arrangement

15.12.2016

 

232

Merger and amalgamation of companies

15.12.2016

 

233

Merger or amalgamation of certain companies

15.12.2016

 

234

Merger or amalgamation of company with foreign company

 

 

235

Power to acquire shares of shareholders dissenting from scheme or contract approved by majority

15.12.2016

 

236

Purchase of minority shareholding

15.12.2016

 

237

Power of Central Government to provide for amalgamation of companies in public interest

15.12.2016

 

238

Registration of offer of schemes involving transfer of shares

15.12.2016

 

239

Preservation of books and papers of amalgamated companies

15.12.2016

 

240

Liability of officers in respect of offences committed prior to merger, amalgamation, etc.,

15.12.2016

 

 

CHAPTER XVI - PREVENTION OF OPPRESSION AND MANAGEMENT

 

 

241(except 241(1)(b)

Application to Tribunal for relief in cases of oppression

01.06.2016

 

241 (1)(b)

Application to Tribunal for relief in cases of oppression

09.09.2016

 

242 (except 242 (2)(2)© & (g)

Powers of Tribunal

01.06.2016

 

242 (2)© & (g)

Powers of Tribunal

09.09.2016

 

243

Consequence of termination or modifications of certain agreements

01.06.2016

 

244

Right to apply under Section 241

01.06.2016

 

245

Class action

01.06.2016

 

246

Application of certain provisions to proceedings under Section 241 or Section 245

09.09.2016

 

 

CHAPTER XVII - REGISTERED VALUERS

 

 

247

Valuation by registered valuers

 

 

 

CHAPTER XVIII - REMOVAL OF NAMES OF COMPANIES FROM THE REGISTER OF COMPANIES

 

 

248

Power of Registrar to remove name of company from register of companies

26.12.2016

 

249

Restrictions on making application under Section 248 in certain situations

26.12.2016

 

250

Effect of company notified as dissolved

26.12.2016

 

251

Fraudulent application for removal of name

26.12.2016

 

252

Appeal to Tribunal

26.12.2016

 

 

CHAPTER XIX - REVIVAL AND REHABILITATION OF SICK COMPANIES

 

 

253

Determination of sickness

 

Section 253 to 269 - proposed to be omitted by Insolvency and

Bankruptcy Code, 2016

254

Application for revival and rehabilitation

 

 

255

Exclusion of certain time in computing period of limitation

 

 

256

Appointment of interim administrator

 

 

257

Committee of creditors

 

 

258

Order of Tribunal

 

 

259

Appointment of administrator

 

 

260

Powers and duties of company administrator

 

 

261

Scheme of revival and rehabilitation

 

 

262

Sanction of scheme

 

 

263

Scheme to be binding

 

 

264

Implementation of scheme

 

 

265

Winding up of company on report of company administrator

 

 

266

Power of Tribunal to assess damages against delinquent directors, etc.,

 

 

267

Punishment for certain offences

 

 

268

Bar of jurisdiction

 

 

269

Rehabilitation and Insolvency Fund

 

 

 

CHAPTER XX - WINDING UP

 

 

270

Modes of winding up

15.12.2016

 

 

PART  - I WINDING UP BY THE TRIBUNAL

 

 

271

Circumstances in which a company may be wound up by Tribunal

15.12.2016

 

272

Petition for winding up

15.12.2016

 

273

Powers of Tribunal

15.12.2016

 

274

Directions for filing statement of affairs

15.12.2016

 

275

Company liquidators and their appointments

15.12.2016

Section 275 (4) - proposed to be omitted by Insolvency and

Bankruptcy Code, 2016

276

Removal and replacement of liquidator

15.12.2016

 

277

Intimation to company liquidator, provisional liquidator and Registrar

15.12.2016

 

278

Effect of winding up order

15.12.2016

 

279

Stay of suits etc., on winding up order

15.12.2016

 

280

Jurisdiction of Tribunal

15.12.2016

 

281

Submission of report by Company Liquidator

15.12.2016

 

282

Directions of Tribunal on report of Company Liquidator

15.12.2016

 

283

Custody of company properties

15.12.2016

 

284

Promoters, directors etc., to co-operate with Company Liquidator

15.12.2016

 

285

Settlement of list of contributors and application of assets

15.12.2016

 

286

Obligations of directors and managers

15.12.2016

 

287

Advisory Committee

15.12.2016

 

288

Submission of periodical reports to Tribunal

15.12.2016

 

289

Power of Tribunal on application for stay of winding up

 

Proposed to be omitted by Insolcency and Bankruptcy Code, 2016

290

Powers and duties of Company Liquidator

15.12.2016

 

291

Provision for professional assistance to Company Liquidator

15.12.2016

 

292

Exercise and control of company liquidator’s powers

15.12.2016

 

293

Books to be kept by Company Liquidator

15.12.2016

 

294

Audit of Company Liquidator’s accounts

15.12.2016

 

295

Payment of debts by contributory and extent of set off

15.12.2016

 

296

Power of Tribunal to make calls

15.12.2016

 

297

Adjustment of rights of contributories

15.12.2016

 

298

Power to order costs

15.12.2016

 

299

Power to summon persons suspected of having property of company etc.,

15.12.2016

 

300

Power to order examination of promoters, directors, etc.,

15.12.2016

 

301

Arrest of person trying to leave India or abscond

15.12.2016

 

302

Dissolution of company by Tribunal

15.12.2016

 

303

Appeals from orders made before commencement of Act

15.12.2016

 

 

PART II - VOLUNTARY WINDING UP

 

 

304

Circumstances in which company may be wound up voluntarily

 

Section 304 to 323 - proposed to be omitted by Insolvency

and Bankruptcy Code, 2016

305

Declaration of solvency in case of proposal to wind up voluntarily

 

 

306

Meeting of creditors

 

 

307

Publication of resolution to wind up voluntarily

 

 

308

Commencement of voluntary winding up

 

 

309

Effect of voluntary winding up

 

 

310

Appointment of Company Liquidator

 

 

311

Power to remove and fill vacancy of Company Liquidator

 

 

312

Notice of appointment of Company Liquidator to be given to Registrar

 

 

313

Cesser of Board’s powers on appointment of Company Liquidator

 

 

314

Powers and duties of Company Liquidator in voluntary winding up

 

 

315

Appointment of Committees

 

 

316

Company Liquidator to submit report on progress of winding up

 

 

317

Report of Company Liquidator to Tribunal for examination of persons

 

 

318

Final meeting and dissolution of company

 

 

319

Power of Company Liquidator to accept shares etc., as consideration for sale of property of company

 

 

320

Distribution of property of company

 

 

321

Arrangement when binding on company and creditors

 

 

322

Power to apply to Tribunal to have questions determined etc.,

 

 

323

Costs of voluntary winding up

 

 

 

PART III - PROVISIONS APPLICABLE TO EVERY MODE OF WINDING UP

 

 

324

Debts of all descriptions to be admitted to proof

15.12.2016

 

325

Application of insolvency rules in winding up of insolvent companies

 

Proposed to be omitted by Insolcency and Bankruptcy Code, 2016

326

Overriding preferential payments

15.12.2016

 

327

Preferential payments

15.12.2016

 

328

Fraudulent preference

15.12.2016

 

329

Transfers not in good faith to be void

15.12.2016

 

330

Certain transfers to be void

15.12.2016

 

331

Liabilities and rights of certain persons fraudulently preferred

15.12.2016

 

332

Effect of floating charge

15.12.2016

 

333

Disclaimer of onerous property

15.12.2016

 

334

Transfers etc., after commencement of winding up

15.12.2016

 

335

 Certain attachments, executions etc., in winding up by Tribunal to be void

15.12.2016

 

336

Offences by officers of companies in liquidation

15.12.2016

 

337

Penalty for frauds by officers

15.12.2016

Sections 337 to 341 to the extent of their applicability for

Section 246 are applicable from 09.09.2016 and other

provisions from 15.12.2016

338

Liability where proper accounts not kept

15.12.2016

 

339

Liability for fraudulent conduct of business

15.12.2016

 

340

Power of Tribunal to address damages against delinquent directors etc.,

15.12.2016

 

341

Liability under Section 339 and 340 to extend to partners or directors in firms or companies

15.12.2016

 

342

Prosecution of delinquent officers and members of company

15.12.2016

Section 342 (2) (3)(4) - proposed to be omitted

by Insolvency and Bankruptcy Code, 2016

343

Company Liquidator to exercise certain powers subject to sanction

15.12.2016

 

344

Statement that a company is in liquidation

15.12.2016

 

345

Books and papers of company to be evidence

15.12.2016

 

346

Inspection of books and papers by creditors and contributories

15.12.2016

 

347

Disposal of books and papers of company

15.12.2016

 

348

Information as to pending liquidations

15.12.2016

 

349

Official liquidator to make payments into public account of India

15.12.2016

 

350

Company Liquidator to deposit monies into scheduled bank

15.12.2016

 

351

Liquidator not to deposit monies into private banking account

15.12.2016

 

352

Company Liquidator Dividend and Undistributed Assets Account

15.12.2016

 

353

Liquidator to make returns, etc.,

15.12.2016

 

354

Meetings to ascertain wishes of creditors or contributories

15.12.2016

 

355

Court, Tribunal or person, etc., before whom affidavit may be sworn

15.12.2016

 

356

Powers of Tribunal to declare dissolution of company void

15.12.2016

 

357

Commencement of winding up by Tribunal

15.12.2016

 

358

Exclusion of certain time in computing period of limitation

15.12.2016

 

 

PART IV - OFFICIAL LIQUIDATORS

 

 

359

Appointment of Official Liquidator

15.12.2016

 

360

Powers and functions of Official Liquidator

15.12.2016

 

361

Summary procedure for liquidation

15.12.2016

 

362

Sale of assets and recovery of debts due to company

15.12.2016

 

363

Settlement of claims of creditors by Official Liquidator

15.12.2016

 

364

Appeal by creditor

15.12.2016

 

365

Order of dissolution of company

15.12.2016

 

 

CHAPTER XXI - COMPANIES AUTHORISED TO REGISTER UNDER THIS ACT

 

 

 

PART I - COMPANIES AUTHORIZED TO REGISTER UNDER THIS ACT

 

 

366

Companies capable of being registered

01.04.2014

 

367

Certificate of registration of existing companies

01.04.2014

 

368

Vesting of property on registration

01.04.2014

 

369

Saving of existing liabilities

01.04.2014

 

370 (except proviso)

Continuation of pending legal proceedings

01.04.2014

 

Proviso to Section370

Continuation of pending legal proceedings

15.12.2016

 

371

Effect of registration under this Part

01.04.2014

 

372

Power of court to stay or restrain proceedings

15.12.2016

 

373

Suits stayed on winding up order

15.12.2016

 

374

Obligations of companies registering under this part

01.04.2014

 

 

PART II - WINDING UP OF UNREGISTERED COMPANIES

 

 

375

Winding up of unregistered companies

15.12.2016

 

376

Power to wind up foreign companies although dissolved

15.12.2016

 

377

Provisions of Chapter cumulative

15.12.2016

 

378

Saving and construction of enactments conferring power to wind up partnership firm, association or company, etc., in certain cases

15.12.2016

 

 

CHAPTER XXII - COMPANIES INCORPORATED OUTSIDE INDIA

 

 

379

Application of Act to foreign companies

12.09.2013

 

380

Documents etc., to be delivered to Registrar by foreign companies

01.04.2014

 

381

Accounts of foreign company

01.04.2014

 

382

Display of name, etc., of foreign company

12.09.2013

 

383

Service on foreign company

12.09.2013

 

384

Debentures, annual return, registration of charges, books of account and their inspection

01.04.2014

 

385

Fee for registration of documents

01.04.2014

 

386 (except 386 (a)

Interpretation

12.09.2013

 

386 (a)

Intepretation

01.04.2014

 

387

Dating of prospectus and particulars to be contained therein

01.04.2014

 

388

Provisions as to expert’s consent and allotment

01.04.2014

 

389

Registration of prospectus

01.04.2014

 

390

Offer of Indian Depository Receipts

01.04.2014

 

391 (1)

Application of Sections 34 to 36 and Chapter XX

01.04.2014

 

391 (2)

Applicatio of Sections 34 to 36 and Chapter  XX

15.12.2016

 

392

Punishment for contravention

01.04.2014

 

393

Company’s failure to comply with the provisions of this Chapter not to affect validity of contracts, etc.,

01.04.2014

 

 

CHAPTER XXIII - GOVERNMENT COMPANIES

 

 

394

Annual reports on Government companies

12.09.2013

 

395

Annual reports where one or more State Governments are  members of companies

01.04.2014

 

 

CHAPTER XXIV - REGISTRATION OFFICES AND FEES

 

 

396

Registration offices

01.04.2014

 

397

Admissibility of certain documents as evidence

01.04.2014

 

398

Provisions relating to filing of applications, documents, inspection etc., in electronic form

01.04.2014

 

399(except word ‘Tribunal’ in (2)

Inspection, production and evidence of documents kept by Registrar

01.04.2014

 

‘Tribunal’ in 399 (2)

Tribunal

01.06.2016

 

400

Electronic form to be exclusive, alternative or in addition to physical form

01.04.2014

 

401

Provision of value added services through electronic form

01.04.2014

 

402

Application of provisions of Information Technology Act, 2000

01.04.2014

 

403

Fee for filing etc.,

01.04.2014

 

404

Fees, etc., to be credited into public account

01.04.2014

 

 

CHAPTER XXV - COMPANIES TO FURNISH INFORMATION OR STATISTICS

 

 

405

Power of Central Government to direct companies to furnish information or statistics

12.09.2013

 

 

CHAPTER XXVI - NIDHIS

 

 

406

Power to modify Act in its application to Nidhis

01.04.2014

 

 

CHAPTER XXVII - NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL

 

 

407

National Company Law Tribunal and Appellate Tribunal Definitions of

12.09.2013

 

408

Constitution of National Company Law Tribunal

12.09.2013

 

409

Qualification of President and Members of Tribunal

12.09.2013

 

410

Constitution of Appellate Tribunal

12.09.2013

 

411

Qualification of Chairperson and Members of Appellate Tribunal

12.09.2013

 

412

Selection of Members of Tribunal and Appellate Tribunal

12.09.2013

 

413

Term of office of President, Chairperson and other Members

12.09.2013

 

414

Salary, allowances and other terms and conditions of service of members

12.09.2013

 

415

Acting President and Chairperson of Tribunal or Appellate Tribunal

01.06.2016

 

416

Resignation of Members

01.06.2016

 

417

Removal of Members

01.06.2016

 

418

Staff of Tribunal and Appellate Tribunal

01.06.2016

 

419

Benches of Tribunal

01.06.2016

 

420

Orders of Tribunal

01.06.2016

 

421

Appeal from orders of Tribunal

01.06.2016

 

422

Expeditious disposal by Tribunal and Appellate Tribunal

01.06.2016

 

423

Appeal to Supreme Court

01.06.2016

 

424

Procedure before Tribunal and Appellate Tribunal

01.06.2016

 

425

Power to punish for contempt

01.06.2016

 

426

Delegation of powers

01.06.2016

 

427

President, Members, Officers etc., to be public servants

01.06.2016

 

428

Protection of action taken in good faith

01.06.2016

 

429

Power to seek assistance of Chief Metropolitan Magistrate, etc.,

01.06.2016

 

430

Civil Court not to have jurisdiction

01.06.2016

 

431

Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings

01.06.2016

 

432

Right to Legal representation

01.06.2016

 

433

Limitation

01.06.2016

 

434 (1)(a) & (b) & (2)

Transfer of certain pending proceedings

01.06.2016

 

434 (1)©

Transfer of proceedings - arbitration, compromise etc.,

15.12.2016

*

 

CHAPTER XXVIII - SPECIAL COURTS

 

 

435

Establishment of Special Courts

18.05.2016

 

436

Offences triable by Special Courts

18.05.2016

 

437

Appeal and revision

18.05.2016

 

438

Application ofCode to proceedings before a special court

18.05.2016

 

439

Offences to be non cognizable

12.09.2013

 

440

Transitional provisions

 

 

441

Compounding of certain offences

01.06.2016

 

442

Mediation and Conciliation Panel

01.04.2014

 

443

Power of Central Government to appoint Company prosecutors

12.09.2013

 

444

Appeal against acquittal

12.09.2013

 

445

Compensation for accusation without reasonable cause

12.09.2013

 

446

Application of fines

12.09.2013

 

 

CHAPTER XXIX - MISCELLANEOUS

 

 

447

Punishment for fraud

12.09.2013

 

448

Punishment for false statement

12.09.2013

 

449

Punishment for false evidence

12.09.2013

 

450

Punishment where no specific penalty or punishment is provided

12.09.2013

 

451

Punishment in case oif repeated default

12.09.2013

 

452

Punishment for wrongful withholding of property

12.09.2013

 

453

Punishment for improper use of 'Limited' or 'Private Limited'

12.09.2013

 

454

Adjudication of penalties

01.04.2014

 

455

Dormant Company

01.04.2014

 

456

Protection of action taken in good faith

12.09.2013

 

457

Non disclosure of information in certain cases

12.09.2013

 

458

Delegation of Central Government of its powers and functions

12.09.2013

 

459

Powers of Central Government or Tribunal to accord approval, etc., subject to

 

 

 

conditions and to prescribe fees on applications

12.09.2013

 

460

Condonation of delay in certain cases

12.09.2013

 

461

Annual report by Central Government

12.09.2013

 

462

Power to exempt class or classes of companies from provisions of this Act

12.09.2013

 

463

Power of Court to grant relief in certainc ases

12.09.2013

 

464

Prohibtiion of association or partnership of persons exceeding certain number

01.04.2014

 

465

Repeal of certain enactments and savings

 

 

466

Dissolution ofCompany Law Board and consequential provisions

01.06.2016

 

467

Power of Central Government to amend shcedules

12.09.2013

 

468

Powers of Central Government to make rules relating to winding up

12.09.2013

 

469

Power of Central Government to make rules

12.09.2013

 

470

Power to remove difficulties

12.09.2013

 

 

 

 

 

 

SCHEDULES

 

 

 I

Memorandum of Association of a company limited by shares

01.04.2014

 

II

Useful lives to compute depreciation

01.04.2014

 

III

General instructions for preparation of balance sheet and statement of profit

 

 

 

and loss of a company

01.04.2014

 

IV

Code for independent directors

01.04.2014

 

V

Conditions to be fulfilled for the appointment of a managing or whole time

 

 

 

director or a manager without the approval of the Central Government

01.04.2014

 

VI

Infrastructural Projects/facilities

01.04.2014

 

VII

Activities which may be included by companies in their corporate social responsibility policies

01.04.2014

 

 

By: Mr. M. GOVINDARAJAN - January 24, 2017

 

 

 

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