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Highlights of Companies Act 2013

The Ministry of Corporate Affairs (MCA) notified 183 sections of the new Companies Act, 2013 (the Act), which came into effect from 1 April 2014. With this, 282 of 470 sections of the Act have been notified in a phased manner. The changes in the Act have far-reaching implications that are set to significantly change the manner in which companies operate in India.

Chapter II, “Incorporation of Company and Matters Incidental thereto”, and the corresponding Companies (Incorporation) Rules, 2014 have also come into effect from 1 April 2014. In this note, we have encapsulated the major changes with respect to the incorporation of companies and the possible implications.
 
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