The companies act 20 is an act of the parliament of india on indian company law which regulates incorporation of a company, responsibilities of a company, directors, dissolution of a company. The truth is, for something such as companies act, 20 for beginners, there is act. The 20 act is divided into 29 chapters containing 470 sections as against 658 sections in the companies act, 1956 and has 7 schedules. Is it mandatory to obtain credit rating for renewal of deposits. The company is a unlisted public company having paid up of rs. As per section 2 subsection 24 of companies act, 20. Appointment of company secretary companies act 20 yourstory. In exercise of the powers conferred by subsection 1 of section 458 of the companies act 18 of 20 the central government being satisfied that circumstances warrant, hereby delegates the powers to appoint inspectors for inspection of books and papers of a company under subsection 5 of section 206 as.
The term vanishing company is not defined under section 2 of the companies act, 20. I have few queries with regard to acceptance of deposits under section 73 of the companies act,20. With this idea, ministry of corporate affairs and icsi has taken initiative for taking up this project and at the occasion of the 44 th national convention of company secretaries held on 17 th 19 november, 2016, this ebook portal on the companies act, 20 was launched by the hands of smt. Karthik, company secretary course company secretary, icsi, new delhi, the institute of company secretaries of india. Checklist of applicable sections for a private limited company, under the new companies act, 20. It is an act to consolidate and amend the law relating to companies. The object of new companies act is to replace the existing companies act, 1956 in order to achieve more transparency, accountability and promote better corporate governance in the. He has graduated from university of delhi as one of the top scorers.
It has exhaustive section wise details on the companies act, 20 along with circulars, orders, rules and notifications. Section 206 of companies act, 20 power to call for. Icai faq on companies act 20 with 177 question and answers. All 438 sections of companies act are notified by the ministry of corporate affairs mca and majority of the rules to the various chapterssections of the companies act, 20.
Section 90 of the companies act 20 substituted by a new set of law by the companies amendment act, 2017 with effect from th june 2018. By following the ebooks of ca ipcc exam can use it in laptops, i pads, tabs, and mobile phones. The institute of company secretaries of indiaicsi is constituted under an act of parliament i. The book covers company law procedures under different sections notified under companies act, 20. Of the 470 sections in the companies act, 20, substantial number of sections and most of the rules thereunder have been notified. The companies bill 2012 has been tabled in the rajya sabha and is expected to be passed in the monsoon session. The long awaited companies bill 2012 was passed by lok sabha in december 2012 and subsequently passed by rajya sabha and got presidents assent in august 20. So students here we provide all sections and amendments related to companies act 20.
Buy the companies act, 20 book online at best prices in india on. Also, to understand the points where companies act 20 has got an edge over companies act 1956. I am grateful to cs k sethuraman, group company secretary, reliance industries ltd. The companies act 20 question and answers are there in that companies act 20. The act has replaced the companies act, 1956 after receiving the assent of the president of india on 29 august 20. Thus the companies act, 20, has now been enacted and will come into force from the date to be notified by the government. Seminars on companies act 20 include companies act, 1956 search results. Procedures and compliances a practical approach to the companies act, 20 2 editions bloomsburys desk referencer for professionals 3 editions the directors handbook a panoramic view of the provisions of the. The 20 act introduces a new type of entity to the existing list i. Deposit under section 73 of the companies act, 20 general. Smriti zubin irani, hon ble union minister for textiles, government of india. The companies act 20 shall have effect on both company accounts part a and auditing.
Sections 128 to 3 and 8 to 148 of this act deal with. The index contains the latest amendments, list of all sections including sections which has not yet been notified, schedules, and rules made under the companies act, 20. Amended section 90 and rules made thereunder has already been notified with effect from th june 2018 and 14th june 2018. She is an author and has coauthored the following books published by the bloomsbury india professional. Company secretary or secretary means a company secretary as defined in clause c. Corporate social responsibility in the companies act, 20 a boon for scientific. List of sections as per companies act 20 companies act 20, rules, circulars, notifications as notified by the ministry of corporate affairs.
Different provisions of the companies amendment act, 2017 including any amendments, references in any provisions there in, shall come into force on such date or dates as the central government may, by notification in the official gazette appoints. Sebi lodr regulations, 2015 and companies act, 20 a comparision corporate governance certification under listing regulations a referencer a guide to board evaluation revised edition. List of notified sections of companies amendment act. The object of new companies act is to replace the existing companies act, 1956 in order to achieve more transparency, accountability and promote better corporate governance in the functioning of the companies. Candidates who are preparing for the ca ipcc examination can also download the ca ipcc companies act 20 short notes in pdf format.
I have lot of interest in law particularly in company law an. Companies act, 20 analysis of important provisions. Smriti zubin irani, honble union minister for textiles, government of india. Icsi launches ebook on the companies act, 20 legalopedia. Resolved that pursuant to provisions of section 203 of companies act 20 and. Power to call for information, inspect books and conduct inquiries effective from 1st april, 2014 1 where on a scrutiny of any document filed by a company or on any information received by him, the registrar is of the opinion that any further information or explanation or any further documents relating to the. Icsi primer companies act 20 uploaded a video 6 years ago 34. Chapter ii incorporation of company and matters incidental thereto, section 3 to 22. Everything about companies act 20, rules, notification.
Each procedure is divided into following five heads in order to give a complete view of the procedure. Companies amendment act, 2017 was assented by honble president on the 3rd january, 2018 and after that three notification been issued by which various section of companies amendment act, 2017 been notified which are as under. It is a drastic change to understand and need urgent attention for all companies. The companies act 20 notes by icsi for all ca cma cs. The companies act, 20 stringent disclosures in the boards report, company s annual return and certification by the company secretary 1062 companies act, 20 accounts and audit 1068 chartered secretary is normally published in the first week of every month. The secretarial audits under the companies act, 20. Complete list of sections of companies act, 20 corporate. Learn the most concepts of the topic company regulatory legislation in india. Understanding companies amendment act, 2017 taxsutra.
The section 1 of the act has come into force from the date of the notification. To a beginner who wishes to learn something such as companies act, 20, the first question they often ask is, where can i begin to learn. Checklist of applicable sections private limited company. It may be noted that out of 470 sections, 98 sections have come into force with effect from 120920 by a notification issued by the government. Appointment of company secretary as per companies act 20. Ebook on companies act 20 in pdf april 2020 edition. Rather, it is defined under the explanation to rule 3 of the companies removal of names of companies from the register of companies rules, 2016. Cs simranjeet singh is an associate member of icsi.
A preference share or preference share capital is that part of share capital which carries a preferential right with respect to both dividend and capital. With 99 sections of companies act, 20 already notified and more to follow in the near future, its time for private companies in india to get started with the understanding of the act and the possible implications, it can have on the functioning of their companies, more so when we know that. Section 1 of companies amendment act, 2017 states that the amendment act shall come into force on such date as the central government may, by notification in the official gazette, appoint. Earlier, 98 sections were notified on 12th september, 20 and section 5 relating to corporate social responsibility and schedule vii amended were notified on february 27, 2014. On february 9, 2018, several sections of the companies amendment. The companies act, 20 permits a company limited by shares to issue two classes of shares, namely equity share capital and preference share capital. Powers to order books, papers inspection 2065 delegated. The companies act, 20 the long awaited companies bill 2012 was passed by lok sabha in december 2012 and subsequently passed by rajya sabha and got presidents assent in august 20. I commend the dedicated efforts put in by shri saurabh jain, deputy director. The companies act, 20 ministry of corporate affairs. Different provisions of the companies amendment act, 2017 including any amendments. Section 4 of the companies amendment act, relates to the procedure for name approval.
The act came into force on 12 september 20 with only 98 provisions of the act notified. Companies act, 20 and lists out the salient features, of the law in a capsule form. The appointment of company secretary cs has been made mandatory under the companies act 20 for a few categories of companies. He has authoredcoauthored many books published by leading publishers in india including commentary on the companies act, 1956 2 volumes, faqs on company law, prohibition of insider training law and procedure and guide to information act, 2005. Presidents assent on 29 th august 20 law to be operational in phases o 98 sections notified on 12 th september 20 corresponding sections of companies act, 1956 ceased to have effect from that date o no transitional provisions draft rules and corresponding forms issued. What is the best book available for the companies act, 20. Here we have give some important books for the book the companies. Which sections of the companies act of 20 are applicable for the. Every company shall at the first annual general meeting appoint an individual or firm as an auditor who shall hold office from the conclusion of this meeting until the conclusion of sixth annual general meeting. Companies law procedures with compliances and checklists. Nonreceipt of any issue should be notified within that month. How to learn sections of companies act 20 vidwan institute online. The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20.
Scroll down and download check list for annual compliance calendar under companies act. Around 3 months back i was also in the same situation looking here and there, asking for the advise on how to have sound knowledge of the companies act 20. According to section 205 of the companies act, 20 the company. Download the companies act 20 notes by icsi for all ca cma cs students. The companies act 20 book is free and available to everyone to download as a pdf. The companies act 20 contains 470 sections under 29 chapters with seven schedules. He is pioneered in drafting corporate agreements and petitions. Backgrounder on the companies act, 20 the companies bill, 2012, on receiving the assent of honorable president of india on august 29, 20, was notified in the gazette of india on august 30, 20 as the companies act, 20 18 of 20. Section content effective date some of the subsections of these sections have been notified on different dates.