Section
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Description
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Date of effect
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CHAPTER - I PRELIMINARY
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1
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Short title, extent, commencement and application
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12.9.2013
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Definitions
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2(1)
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Abridged prospectus
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12.09.2013
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2(2)
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Accounting Standards
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01.04.2014
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2(3)
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Alter or alteration
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12.09.2013
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2(4)
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Appellate Tribunal
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12.09.2013
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2(5)
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Articles
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12.09.2013
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2(6)
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Associate Company
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12.09.2013
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2(7)
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Auditing Standards
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01.04.2014
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2(8)
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Authorized capital or Nominal Capital
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12.09.2013
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2(9)
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Banking company
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12.09.2013
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2(10)
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Board of Directors or Board
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12.09.2013
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2(11)
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Body Corporate or corporation
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12.09.2013
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2(12)
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Book and paper' and 'book or paper'
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12.09.2013
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2(13)
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Books of account
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01.04.2014
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2(14)
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Branch office
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12.09.2013
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2(15)
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Called up capital
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12.09.2013
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2(16)
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Charge
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12.09.2013
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2(17)
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Chartered Accountant
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12.09.2013
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2(18)
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Chief Executive Officer
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12.09.2013
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2 (19)
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Chief Financial Officer
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12.09.2013
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2(20)
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Company
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12.09.2013
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2(21)
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Company limited by guarantee
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12.09.2013
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2(22)
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Company limited by shares
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12.09.2013
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2(23)
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Company liquidator
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15.12.2016
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2(24)
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Company Secretary or secretary
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12.09.2013
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2(25)
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Company Secretary in practice
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12.09.2013
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2(26)
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Contributory
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12.09.2013
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2(27)
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Control
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12.09.2013
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2(28)
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Cost Accountant
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12.09.2013
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2(29) except (iv)
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Court
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12.09.2013
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2(29) (v)
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Court
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18.05.2016
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2(30)
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Debenture
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12.09.2013
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2(31)
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Deposit
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01.04.2014
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2(32)
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Depository
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12.09.2013
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2(33)
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Derivative
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12.09.2013
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2(34)
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Director
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12.09.2013
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2(35)
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Dividend
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12.09.2013
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2(36)
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Document
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12.09.2013
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2(37)
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Employees’ Stock Option
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12.09.2013
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2(38)
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Expert
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12.09.2013
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2(39)
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Financial Institution
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12.09.2013
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2(40)
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Financial Statement
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12.09.2013
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2(41)
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Financial year
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01.04.2014
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2(42)
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Foreign company
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01.04.2014
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2(43)
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Free reserves
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12.09.2013
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2(44)
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Global Depository Receipt
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12.09.2013
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2(45)
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Government Company
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12.09.2013
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2(46)
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Holding Company
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12.09.2013
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2(47)
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Independent Director
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01.04.2014
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2(48)
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Indian Depository Receipt
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01.04.2014
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omitted
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2(49)
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Interested director
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12.09.2013
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2(50)
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Issued Capital
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12.09.2013
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2(51)
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Key Managerial personnel
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12.09.2013
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2(52)
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Listed company
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12.09.2013
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2(53)
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Manager
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12.09.2013
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2(54)
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Managing Director
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12.09.2013
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2(55)
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Member
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12.09.2013
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2(56)
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Memorandum
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12.09.2013
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2(57)
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Net worth
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12.09.2013
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2(58)
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Notification
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12.09.2013
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2(59)
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Officer
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12.09.2013
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2(60)
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Officer who is in default
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12.09.2013
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2(61)
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Official Liquidator
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12.09.2013
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2(62)
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One Person Company
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01.04.2014
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2(63)
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Ordinary or special resolution
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12.09.2013
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2(64)
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Paid up share capital or share capital paid up
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12.09.2013
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2(65)
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Postal ballot
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12.09.2013
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2(66)
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Prescribed
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12.09.2013
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2(67) except (ix)
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Previous Company Law
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12.09.2013
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2(67)(ix)
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The Registration of Companies (Sikkim) Act, 1961
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2(68)
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Private Company
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12.09.2013
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2(69)
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Promoter
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12.09.2013
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2(70)
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Prospectus
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12.09.2013
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2(71)
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Public company
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12.09.2013
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2(72)
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Public financial institution
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12.09.2013
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2(73)
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Recognized stock exchange
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12.09.2013
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2(74)
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Register of Companies
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12.09.2013
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2(75)
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Registrar
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12.09.2013
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2(76)
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Related party
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12.09.2013
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2(77)
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Relative
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12.09.2013
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2(78)
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Remuneration
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12.09.2013
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2(79)
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Schedule
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12.09.2013
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2(80)
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Scheduled Bank
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12.09.2013
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2(81)
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Securities
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12.09.2013
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2(82)
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Securities and Exchange Board of India
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12.09.2013
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2(83)
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Serious Fraud Investigation Office
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01.04.2014
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2(84)
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Share
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12.09.2013
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2(85)
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Small company
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01.04.2014
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2(86)
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Subscribed capital
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12.09.2013
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2(87) except proviso and Explanation (d)
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Subsidiary Company or subsidiary
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12.09.2013
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Proviso and Explanation (d)
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Definition 'layer'
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01.04.2014
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omitted
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2(88)
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Sweat equity shares
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12.09.2013
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2(89)
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Total voting power
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12.09.2013
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2(90)
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Tribunal
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12.09.2013
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2(91)
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Turnover
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12.09.2013
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2(92)
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Unlimited company
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12.09.2013
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2(93)
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Voting right
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12.09.2013
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2(94)
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Whole time director
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12.09.2013
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2(95)
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Meaning of certain and expressions not defined in the Act
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12.09.2013
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CHAPTER II - INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO
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3
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Formation of company
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01.04.2014
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4
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Memorandum
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01.04.2014
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5
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Articles
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01.04.2014
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6
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Act to override memorandum, articles, etc
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01.04.2014
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7 (except 7 (7))
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Incorporation of company
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01.04.2014
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7(7)(a)(b)
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Order of Tribunal
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01.06.2016
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7(7)©(d)
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Order of Tribunal
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15.12.2016
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8 (except 8(9))
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Formation of companies with charitable objects, etc.
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01.04.2014
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8(9)
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Order of Tribunal
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15.12.2016
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9
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Effect of registration
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01.04.2014
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10
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Effect of memorandum and articles
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01.04.2014
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11
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Commencement of Business etc.,
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01.04.2014
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Omitted w.e.f. 29.05.2015
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12
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Registered Office of company
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01.04.2014
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13
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Alteration of memorandum
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01.04.2014
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14(except 2nd proviso to 14(1) & 14(2)
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Alteration of Articles
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01.04.2014
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2nd proviso to 14(1) & 14(2)
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Alteration of Articles
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01.06.2016
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15
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Alteration of memorandum or articles to be noted in every copy
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01.04.2014
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16
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Rectification of name of company
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01.04.2014
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17
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Copies of memorandum, articles etc., to be given to members
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01.04.2014
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18
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Conversion of companies already registered
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01.04.2014
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19
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Subsidiary company not to hold shares in its holding company
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12.09.2013
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20
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Service of documents
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01.04.2014
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21
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Authentication of documents, proceedings and contracts
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12.09.2013
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22
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Execution of bills of exchange etc.,
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12.09.2013
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CHAPTER III - PROSPECTUS AND ALLOTMENT OF SECURITIES
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PART I - PUBLIC OFFER
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23(except 23(1)(b) and 23(2)
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Public Offer and private placement
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12.09.2013
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23(1)(b) & (2)
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Public Offer and private placement
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01.04.2014
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24
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Power of Securities and Exchange Board to regulate issue and transfer of securities etc.,
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12.09.2013
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25(except 25(3))
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Document containing offer of securities for sale to be deemed prospectus
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12.09.2013
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25(3)
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Document containing offer of securities for sale to be deemed prospectus
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01.04.2014
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26
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Matters to be stated in prospectus
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01.04.2014
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27
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Variation in terms of contract or objects in prospectus
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01.04.2014
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28
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Offer of sale of shares by certain members of a company
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01.04.2014
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29
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Public offer of securities to be in dematerialized form
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12.09.2013
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30
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Advertisement of prospectus
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12.09.2013
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31
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Shelf prospectus
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12.09.2013
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32
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Red herring prospectus
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12.09.2013
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33 (except 33(3))
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Issue of application forms for securities
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12.09.2013
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33(3)
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Issue of application forms for securities
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01.04.2014
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34
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Criminal liability for misstatements in prospectus
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12.09.2013
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35(except (35(1)(e))
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Civil liability for mis-statement in prospectus
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12.09.2013
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35(1)(e)
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Civil liability for mis statement in prospectus
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01.04.2014
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36
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Punishment for fraudulently inducing persons to invest money
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12.09.2013
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37
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Action by affected persons
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12.09.2013
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38
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Punishment for personation for acquisition, etc., of securities
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12.09.2013
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39 (except 39(4))
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Allotment of securities by company
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12.09.2013
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39(4)
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Allotment of securities by company
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01.04.2014
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40(except 40(6)
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Securities to be dealt with in stock exchanges
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12.09.2013
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40 (6)
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Securities to be dealt with in stock exchanges
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01.04.2014
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41
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Global depository receipt
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01.04.2014
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PART II - PRIVATE PLACEMENT
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42
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Offer or invitation for subscription of securities on private placement
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01.04.2014
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CHAPTER IV - SHARE CAPITAL AND DEBENTURE
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43
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Kinds of share capital
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01.04.2014
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44
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Nature of shares or debentures
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12.09.2013
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45
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Numbering of shares
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12.09.2013
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46
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Certificate of shares
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01.04.2014
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47
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Voting rights
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01.04.2014
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48
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Variation of shareholders rights
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15.12.2016
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49
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Calls on shares of same class to be made on uniform basis
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12.09.2013
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50
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Company to accept unpaid share capital although not called up
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12.09.2013
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51
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Payment of dividend in proportion to amount paid up
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12.09.2013
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52
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Application for premiums received on issue of shares
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01.04.2014
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53
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Prohibition on issue of shares as discount
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01.04.2014
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54
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Issue of sweat equity shares
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01.04.2014
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55 (except 55(3)
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Issue and redemption of preference shares
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01.04.2014
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55(3)
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Issue and redemption of preference shares
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01.06.2016
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56
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Transfer and transmission of securities
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01.04.2014
|
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57
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Punishment for personation of shareholder
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12.09.2013
|
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58
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Refusal of registration and appeal against refusal
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12.09.2013
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59
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Rectification of register of members
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12.09.2013
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60
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Publication of authorized, subscribed and paid up capital
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12.09.2013
|
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61 (except proviso to 61(1)(b)
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Power of limited company to alter its share capital
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01.04.2014
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Proviso to Section 61 (1)(b)
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Consoliation and division of all or any of share capital
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01.06.2016
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62 (except 62 (4) to (6)
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Further issue of share capita
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01.04.2014
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62 (4) to (6)
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Further issue of share capita
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01.06.2016
|
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63
|
Issue of bonus shares
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01.04.2014
|
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64
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Notice to be given to Registrar for alteration of share capital
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01.04.2014
|
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65
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Unlimited company to provide for reserve share capital on conversion into limited company
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12.09.2013
|
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66
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Reduction of share capital
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15.12.2016
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67
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Restrictions on purchase by company or giving loans by it for purchase of its shares
|
01.04.2014
|
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68
|
Power of company to purchase its own securities
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01.04.2014
|
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69
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Transfer of certain sums to capital redemption reserve account
|
12.09.2013
|
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70 (except 70(2)
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Prohibition for buy back in certain circumstances
|
12.09.2013
|
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70(2)
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Prohibition for buy back in certain circumstances
|
01.04.2014
|
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71 (except 71 (9) to (11)
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Debentures
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01.04.2014
|
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71 (9) to (11)
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Debentures
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01.06.2016
|
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72
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Power to nominate
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01.04.2014
|
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CHAPTER - V - ACCEPTANCE OF DEPOSITS BY COMPANIES
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73
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Probation on acceptance of deposits from public
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01.04.2014
|
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74 (1)
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Repayment of deposits etc., accepted before commencement of the Act
|
01.04.2014
|
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74 (2) & (3)
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Repayment of deposits etc., accepted before commencement of the Act
|
06.06.2014
|
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75
|
Damages for fraud
|
01.06.2016
|
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76
|
Acceptance of deposits from public by certain companies
|
01.04.2014
|
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76A
|
Punishment for contravention of Section 73 and 76
|
29.05.2014
|
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CHAPTER VI - REGISTRATION OF CHARGES
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77
|
Duty to register charges etc.,
|
01.04.2014
|
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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
|
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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
|
|
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CHAPTER VII - MANAGEMENT AND ADMINISTRATION
|
|
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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
|
|