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Companies Act 2013 1956 Section Section 118 – Minutes of proceedings of general meeting, meeting of board of directors and other meeting and resolutions passed by postal ballot. *[Notified on 26-03-2014] 1. Every Company shall maintain minutes of every General Meeting of any class of shareholders or creditors, resolution passed by postal ballot , and …

Minutes of proceedings of General Meetings, Board Meetings and other meetings Read More »

Management and Administration Title Section 170 to 204 of Companies Act, 1956 Section 101  to 122 of Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014 Notice of meeting Section 171 & 172   No provision to issue notice in electronic mode existed.   Consent for shorter notice was by all members entitled …

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Management and Administration Title Section 150 to 169 of Companies Act, 1956 Section 88 to 100  of Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014 Register of Members Section’s 150, 151, 152, 152A, 157 and 158   Register of members and debentures holders to be maintained.     Particulars required to be …

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Companies(Acceptance of Deposits)Rules, 1975 Companies(Acceptance of Deposits)Rules, 2014 Changes in the New Act. Definition: (Rule 2 (b) ) Deposit means any deposit of money with, and includes any amount borrowed by, a company Definition:  (Sec 2(31) of Companies Act, 2013 read with Rule 2(1)(c)) Deposit includes any receipt of money by way of deposit or …

Comparison of Definition of Deposit under Companies Act, 1956 & Companies Act, 2013 Read More »

Auditors S No Title The Companies Act, 2013 The Companies Act, 1956 1 Appointment of First Auditor Section 139   Board shall appoint within 30 days from the date of registration of the company. Section 224   Board shall appoint within one month from the date of registration of the company. 2 Ceiling limits of …

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Dividend Sl.No. Particulars As per Companies Act, 2013 As per Companies Act, 1956 1 Title 123 – Declaration of Dividend 205 – Dividend to be paid only out of profits 205A (3) – Unpaid dividend to be transferred to special dividend account 206 – Dividend not to be paid except to registered shareholders or to …

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Sl. No. Particulars As per Companies Act, 2013 As per Companies Act, 1956 1 Section 56 108, 109, 110 & 113. 2 Title Transfer and Transmission of Securities 108- Transfer not to be registered except on production of instrument of transfer 109- Transfer by Legal Representative 110- Application for Transfer. 113- Limitation of time for …

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Comparative Statement: S.No Particulars Companies Act, 1956 Companies Act, 2013 1. Reference Section 124 to Section 145 of Companies Act, 1956 Section 77-87 of the Companies Act, 2013 read with the Companies (Registration of Charges) Rules, 2014 2. Definition Inclusive definition of Charge given in this Act as “Charge includes a Mortgage” Charge defined as …

Registration of Charges – Comparison between Companies Act, 1956 and Companies Act, 2013 Read More »

Introduction: To make the listed companies more transparent and to align the provisions related to Listing Agreement with the Companies Act, 2013, Capital Market Regulator, SEBI has amended Clause 49 of Listing Agreement. The said amendments will be effective from 1st October 2014. We have done a comparative analysis on the same: Particulars Clause 49 …

COMPARITIVE ANALYSIS OF Clause 49 of SEBI Listing Agreement with COMPANIES ACT, 2013 Read More »

Change Factor Listing Agreement – Clause 49 Companies Act, 2013 – Section 149 Composition of Board If chairman is Executive Director – at least 50% of the board to be independent directors. If Chairman is non-executive Director – at least 1/3rd of the Board to be independent directors. In case of listed Companies, 1/3rd of …

INDEPENDENT DIRECTORS – COMPARISION BETWEEN LISTING AGREEMENT AND COMPANIES ACT, 2013. Read More »