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Some provisions of the Act are still in force (as per Ministry of Corporate Affairs Website) Status: Repealed The Companies Act 1956 was an Act of the Parliament of India , enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries . [ 1 ]
The 2013 Companies Act superseded the Companies Act of 1956, under whose provisions Indian corporations previously operated.In addition to the Companies Act, corporations are subject to other regulations administered by the Ministry of Corporate Affairs (MCA), [1] which has two branches: the Regional Director (RD) and the Registrar of Companies (ROC).
The Companies Act 2013 (No. 18 of 2013) is an Act of the Parliament of India which forms the primary source of Indian company law. It received presidential assent on 29 August 2013, and largely superseded the Companies Act 1956. The Act was brought into force in stages.
The Companies Amendment Act, 2006 The Limited liability Partnership Act, 2008 In August 2013, The Companies Act, 2013 was passed to regulate corporations by increasing responsibilities of corporate executives and is intended to avoid the accounting scandals such as the Satyam scandal which have plagued India. [ 2 ]
Lok Sahayak Sena Act: 1956: 53 Supreme Court (Number of Judges) Act: 1956: 55 Khadi and Village Industries Commission Act: 1956: 61 Jammu and Kashmir (Extension of Laws) Act: 1956: 62 Central Sales Tax Act: 1956: 74 Hindu Adoptions and Maintenance Act (HAMA) 1956: 78 Manipur (Village Authorities in Hill Areas) Act: 1956: 80 Faridabad ...
The introduction of the Companies Act 2013 (2013 Act), which replaced the previous Companies Act 1956, was one of the most important legal reforms in recent years (1956 Act). Though the 2013 Act was a start in the right way by introducing important improvements in areas like disclosures, investor protection, corporate governance, and so on ...
The major tax enactment is the Income Tax Act of 1961 passed by the Parliament, which establishes and governs the taxation of the incomes of individuals and corporations. [47] This Act imposes a tax on income under the following five heads: [48] Income from house and property, [49] Income from business and profession, Income from salaries,
Non-Banking Financial Company (NBFC) is [1] a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business, but does not include any institution whose principal business is that of agriculture, industrial activity, purchase or sale of any goods (other than ...