Companies Act, 2013 Published in Official Gazette of India
The Companies Act, 2013 [previously The Companies Bill, 2012] has been published in Official Gazette of India on 30th August, 2013. However, the date of its applicability has not been decided by the Government of India till date.
The Act in Lok-Sabha
Earlier, The draft law was first introduced in 2008 and then The Companies Bill, 2012 was presented in Lok-Sabha [the Lower House of the Parliament of India] and got passed on 18th December, 2012. Its passage was ensured after the government accepted most of the recommendations made by a standing committee of Parliament led by former finance minister and Bharatiya Janata Party leader Yashwant Sinha.
The Act in Rajya-Sabha
The Companies Bill 2012 was in agenda of Mansoon Session of the Parliamnet in Rajya Sabha [the Upper House of the Parliament of India] and got passed by Rajya Sabha on 8th August 2013. After being passed in Rajya-Sabha, The Bill needed the consent of the President of India "Shri Pranab Mukherjee"
Consent of the President
The Companies Bill 2012 received assent of the President of India "Shri Pranab Mukherjee" on 29th August, 2013 and now it has become Companies Act 2013. After consented to by President , the new legislation replaced the 57-year-old Companies Act, 1956.
Next Steps after Consent
The next steps would be to finalize the Rules and define the procedural aspects of this Act. The Ministry of Corporate Affairs is expected to put the draft rules for public comments soon, and notify the relevant portions of this Act, in a step by step manner, along with the rules applicable.
Applicability of the Act
The Act shall be applicable and shall come into force on such date as the Central Government notifies in the Official Gazette of India.
Here is the Link to Download the Companies Act, 2013 as published in the Official Gazette of India on 30th August, 2013. Click here to Download...
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