The bill for an act with this short title will usually have been known as a companies bill during its passage through parliament. It mentions what type on companies their differences, constitution. It includes following concepts all amendments corresponding with companies act 20 are compiled in this summary. The withdrawal must take place before the events have reached the commencement of the execution 5. The companies act 1956, defines company as a company formed and registered under the companies act. The companies act, 20 was passed by lok sabha on the 18th of december 2012 and passed by the rajya sabha on 8th august 20 and is all set to replace the 57 year old companies act, 1956. Application of act to companies registered but not formed under previous companies laws 563. Section 108c restriction on the transfer of shares of foreign companies. Complete list of sections of companies act, 20 corporate. Chapters vii and xi repealed with enactment of sale of goods act, 1930 and indian partnership act, 1932. Also, download the charter act of 18 notes pdf from the link given below. Explore the companies act 20 and companies act 1956.
Summary of companies act 1956 very useful for revision. This section, can you help you in finding out in quick manner, the changes in the new or old law. Companies act, 1956 contains provisions which regulate and restrict the minimum subscription and the application money payable on shares issued by a company going for public issue of shares. The regulations contained in table a in the first schedule to the companies act. All amendments corresponding with companies act 20 are compiled in this summary. It means a person who has been named in prospectus or is identified by the company in annual return. The indian companies act 1956 free pdf ebook cakart. Under the companies act, 1956 maintenance of books of accounts is mandatory for every class of companies.
Content introduction definition characteristics of a company types of company 2. Definitions of company, existing company, private company and public company 4. Indian companies act 1956 jun 2011 study material download. Classification on the basis of number of members private company a private company means a company which has a minimum paid up capital of rs.
Introduction to companies act 1956 what is a company. Section 31 ii of the act states that an existing company means a company formed and registered under any of the previous companies laws. Indian contract act, 1872, act ix of 1872 the notion of contract is part of mens common stock even outside the field of legal science, and to men of law, so familiar and necessary in its various applications, that we might expect a settled and just apprehension of it to prevail everywhere. Contract act 1872 law, governing the contract in pakistan is contained in the contract act 1872.
The contract of sale includes both a sale as sell as an agreement to sell. Report inappropriate content message 6 of 44 42,314 views. Under this section, we have made comparison between the companies act 20 and companies act 1956 on various topics under different chapters of the act. The companies act 1956 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, the companies act 1956 national security, others, procedural and administration, property related, public utilities, shipping laws, tax laws.
The bill for an act with this short title will usually have been known as a companies bill during its passage through parliament companies acts may be a generic name either for legislation. Download the complete list of all sections of companies act 20 in pdf format. It means the preliminary steps undertaken by the promoters to bring a company into existence. Introduction to companies act 19561 free download as powerpoint presentation. The indian companies act, 1956 basic concept the word. Introduction to companies act 19561 board of directors. Section 291 of the companies act, 1956 confers general power on the board of directors. As we know that the companies act, 20 has now replaced the decades old companies act, 1956 which was amended tons of time. The 20 act introduces a new type of entity to the existing list i. According to the companies act, 20, company means a company incorporated under this act or under any previous company law. Companies act 1956 explains about the whole procedure of the how to form a company, its fees procedure, name, constitution, its members, and the motive behind the company, its share capital, about its general board meetings, management and administration of the company including an important part which is the directors as they are the decision. Passed in 1871and came into force on 1st sep, 1872.
A company means a group of persons associated together for the attainment of a common end, social or economic. Companies act 1956, 20 pdf bare act, bare act pdf, law. The central government has constituted national company law tribunal nclt under section 408 of the companies act, 20 18 of 20 w. May 29, 2008 section 291 of the companies act, 1956 confers general power on the board of directors. Class notes on company law unit ii 2nd sem 3 year ll. As mike stated, the ability to get your notes to out of act. A company is a legal or juristic person, apart from its members, capable of rights and duties of its own, and endowed with the potential or perpetual succession and a common seal.
The type of act required for an effective withdrawal depends upon a number of circumstances 4. Provided that before making any such order the central government may consult the institute of chartered accountants of. Be it enacted by parliament in the sixth year of the republic of india as follows 1. Provided that before making any such order the central government may consult the institute of chartered accountants of india. Companies act 1956 by study material lecturing notes pdf. Section 3 defines a limited and an unlimited company. Books of accounts are a prime source of information through which information can be extracted about a company. Whereas it is expedient to define and amend certain parts of the law relating to contracts it contains 238 sections divided into x chapters. Based mainly on english common law which is to a large extent made up of judicial precedents. Section 3 1 i of the companies act, 1956 defines a company as a company formed and.
Get multiple slide sharing options for your powerpoint, keynote and pdf presentations. Dec 06, 2012 under the companies act, 1956 maintenance of books of accounts is mandatory for every class of companies. Section 3 1 i of the companies act, 1956 defines a company as a company formed and registered under this act or an existing company. Company law page 4 of 84 limited and unlimited companies. Be it enacted by parliament in the sixth year of the republic of india as follows. Scheme of the act the scheme of the act may be divided into two main groups, a.
A company means a company formed and registered under the companies act, 1956 or any existing company. When such an association of persons is registered under the companies act, it becomes an artificial person with perpetual succession and common seal. In the first phase the ministry of corporate affairs have set up eleven benches, one principal bench at new delhi and one each regional benches at new delhi, ahmedabad, allahabad, bengaluru. Power of company law board to call annual general meeting. Icsi house, 22, institutional area, lodi road, new delhi 110 003. Subsidiary company not to hold shares in its holding company. Subject as provided in these articles, the regulations in.
Section 31ii says that existing company means a company formed and registered under any of the previous companies laws. This is also called the east india company act, 18. Classroom live lectures edited, enlarged and updated. Maintenance of books of accounts in companies act, 1956. The companies act 1956 indian bare acts india bare act. Download cbse notes, neet notes, engineering notes, mba notes and a lot more from our website and app. Limited and unlimited companies 1a company is a limited company if the liability of its members is limited by its constitution. A company is defined as, a company formed and registered under this act or an existing company. Introductionwhat is company a company is an artificial person created by law. Definition of a company a company is a corporation an artificial person created by law. Chapters vii and xi repealed with enactment of sale of. Company law notes rohit natani cs, net, 9783110025 page 1 chapter 3 incorporation of a company promotion.
An act to consolidate and amend the law relating to companies and certain other associations. Download companies act 20 notes file in pdf format. Company law notes rohit natani cs, net, 9783110025 page 3 effects of incorporation section 34. It comes into existence from the date of incorporation. Subject to the provisions of the act, the board of directors of a company shall be entitled to exercise all such powers, and to do all such acts and things, as the company is authorised to exercise and do. Report inappropriate content message 6 of 44 42,326 views. India the companies act 1956 sec 25 power to dispense with limited in name of charitable or other company. The companies act, 1956 consolidates and amends the law relating to companies and certain other associations. It has been developed with an objective to enable a single window access to information and services being provided by the various indian.
These provisions are contained under section 691 and 693 to 6 of the act. This act states and discusses every single provision requires or may need to govern a company. Hi fellow law students, here i am sharing lecture notes in ebook format pdf for the subject company law for llb and ba. These sections are updated and extracted from the ebook on the companies act 20 by aubsp. The free ebook the indian companies act 1956 free pdf ebook is uploaded at. Section 108d power of central government to direct companies not to give effect to the transfer.
Section 108e time within which refusal to he communicated. This act extends to whole of india, except the state of jammu and kashmir. The marginal notes to the regulations shall not affect the construction thereof. This can also be accessed via cakart android app and can be read on move using your android mobile phones.
Section 31i of the companies act, 1956 defines a company as. This can also be accessed via cakart android app and can be read on move using your android. Nov 21, 2012 class notes on company law unit ii 2nd sem 3 year ll. Company law page 2 of 84 separate legal personality of companies and exceptions to that principle in both statute and the common law. The companies act 1956 is administered by the government of india through the ministry of corporate affairs and the offices of registrar of companies, official liquidators, public trustee, company law board, director of inspection, etc. Companies act with its variations is a stock short title used for legislation in botswana, hong kong, india, malaysia, new zealand, south africa and the united kingdom in relation to company law. Many sections of new companies act 20 is not notified by mca ministry of corporate affairs so that sections are of old companies act 1956.
93 1141 332 354 503 290 1327 268 55 1226 693 709 1115 664 1402 258 263 574 798 1150 555 270 1232 168 438 561 486 288 29 874 731 711 729 1461 753 1127 219 643 289 825