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Commencement of New Companies Act, 2013 - 1st April, 2014

Companies Act 2013 in Action - Commencement comes into force from April 1st, 2014

The Ministry of Corporate Affairs (MCA) has notified Commencement of the Companies Act 2013 which shall come into effect from 1st day of April, 2014.

The Companies Act, 2013, that replaces the nearly six-decade old law that governs corporates in the country, would come into effect from
1st April, 2014.

The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013. The Act consolidates and amends the law relating to companies. The Companies Act, 2013 has been notified in the Official Gazette on 30th August, 2013. Some of the provisions of the Act have been implemented by a notification published on 12th September, 2013. The provisions of Companies Act, 1956 is still in force.

Earlier, Ministry of Corporate Affairs Notified 98 Sections which came into force from the date of notification i.e September 12, 2013. Those are independent sections, which do not require the publication of rules. Thereafter, Ministry went through the process of receiving suggestions on draft rules. Click here for the List of 98 Sections notified on 12th September, 2013

This Companies Act, 2013 includes several provisions relating to several concepts which are being introduced for the first time. The sections notified in the first tranche includes one that deals with Private placement and public issue.

Various rules pertaining to registration of charges, management and administration, declaration and payment of dividend, meetings of board and its powers, appointment and qualification of directors, and accounts have been notified, according to various notifications dated March 27.

Click here to see the official Notification issued by Ministry of Corporate Affairs..

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