The enactment of the Companies Act, 2013 was one of the most significant legal reforms in India, aimed at bringing Indian companies’ law in line with global standards. The Act introduced significant changes in the companies’ law in India, especially in relation to accountability, disclosures, investor protection, and corporate governance.
The Amendments addresses difficulties in implementation, facilitate ease of doing business, helps to achieve better harmonization with other statutes such as Reserve Bank of India Act, 1934 and regulations made thereunder, and rectifies inconsistencies in the 2013 Act.
Registered Office and fees Issue of Share Capital and Debentures Audit and Auditors -Appointment/powers/duties, removal, resignation Management and Board – Meetings of Board and its Powers Appointment and Qualification of Directors Prospectus and Allotment of Securities Issue of Shares on Private Placement basis Significant Beneficial Ownership (SBO) Annual Return Corporate Social Responsibility Related Party Transactions Managerial Personnel and Managerial Remuneration Registered Valuers Filing/Late filing Fee Special Courts Compounding of offenses Penalties/Punishment
Latest Amendments in Companies Act and Companies (Amendment) Ordinance, 2018
Sec 2(6) – Associate Company Sec 2(87) – Subsidiary Company Sec 26 – Matters to be stated in Prospectus Sec 54 – Issue of sweat Equity Shares Sec 77 – Duty to register charges, etc. Sec 117 – Resolutions and agreements to be filed Sec 129 – Financial statements Sec 137 – Copy of Financial Statements to be filed with Registrar Sec 139 – Appointment of Auditors Sec 149 – Company to have Board of Directors Sec 164 – Disqualifications for appointment of Director Sec 167 – Vacation of office of Director Sec 168 – Resignation of Director Sec 173 – Meetings of Board Sec 177 – Audit Committee Sec 185 – Loan to Directors, etc Sec 186 – Loan and investment by Company Sec 403 – Fee for filing, etc.