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TMI BlogEFFECTIVE DATES FOR THE PROVISIONS OF COMPANIES ACT, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... EFFECTIVE DATES FOR THE PROVISIONS OF COMPANIES ACT, 2013 - By: - Mr. M. GOVINDARAJAN - Corporate Laws / IBC / SEBI - Dated:- 24-1-2017 - - 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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) Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st 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 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.09.2013 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14(except 2 nd proviso to 14(1) 14(2) Alteration of Articles 01.04.2014 2 nd 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., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... apital 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmencement 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecurity 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) Reimbur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sement 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 3 rd and 4 th proviso to 105 (1) (7) Proxies 12.09.2013 105(1), 3 rd and 4 th 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 2 nd proviso to Section 140(4) (5) Removal, resignation of auditor and giving of special notice 01.04.2014 2 nd proviso to Section 140 (4) (5) Removal, resignation of auditor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny 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 Identificatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nnel 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 managin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g 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 01.04.20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14 212 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 comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anies 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 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd 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 amalgam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 contributo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 charg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o 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 pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riod 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Chapte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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 Provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sions 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 certai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 01.04.2014 VII Activities which may be included by companies in their corporate social responsibility policies 01.04.2014 - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... 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