What are the sections of Companies Act, 2013?

What are the sections of Companies Act, 2013?

The Companies Act, 2013

Section No. Section Name
6 Act to override memorandum, articles, etc
7 Incorporation of company
8 Formation of companies with charitable objects, etc
9 Effect of registration

What is Section 217 of Companies Act?

(1)A company may not make a payment for loss of office to a director of the company unless the payment has been approved by a resolution of the members of the company.

What is Section 206 of Companies Act, 2013?

Section 206 of the Companies Act, 2013 empowers the registrar to call any further information or explanation or any further document relating to the company by written notice. However, the registrar has to record the reason for seeking any such information or explanation or any further document relating to the company.

What is Section 129 of Companies Act, 2013?

(a) in the case of an insurance company, any matters which are not required to be disclosed by the Insurance Act, 1938 (4 of 1938), or the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);

What is a Section 8 company?

Section 8 company is a company which is licensed under section 8 of companies act, 2013. It is a non-profit organization (NPO) which is formed with the objective to promote commerce, arts, science, sports, education, research etc.

How many chapters are there in Companies Act, 2013?

The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules.

What report must be prepared to comply with Section 217 of the Companies Act?

(4) The Board’ s report and any addendum thereto shall be signed by its chairman if he is authorised in that behalf by the Board; and where he is not so authorised, shall be signed by such number of directors as are required to sign the balance sheet and the profit and loss account of the company by virtue of sub- …

Who is an inspector in company law?

Power of inspector to conduct investigation into affairs of related companies, etc.20: That an inspector appointed by the central government to investigate into the affairs of the company can investigate into the affairs of the company’s subsidiary company or any other company managed by the managing director or an …

What is Section 143 of Companies Act, 2013?

Reporting of frauds by auditor and other matters: (1) if an auditor of a company, in the course of the performance of his duties as statutory auditor, has reason to believe that an offence of fraud, which involves or is expected to involve individually an amount of rupees one crore or above, is being or has been …

Is GST applicable to Section 8 company?

While the definition of ‘taxable person under GST’ includes a trust, society, or Section 8 company, as long as these entities are not engaged in economic activity including trade and commerce, they cannot be treated as a taxable person under GST.

Can director of Section 8 draw salary?

As per section 8(1) (a) of the Companies Act, 2013 section 8 company can carry such type of activities. Bonus can be paid to employ but not to members even they are employees. There is no restriction on payment remuneration to employees/director.

Is director report mandatory?

A director of the company is liable to submit director report every financial year before shareholders of the company. Companies act, 2013 has made it mandatory to file this report as per many sections embedded in the act whereas, in the erstwhile act, only section 217 talked about director’s report.

Do directors report to shareholders?

In order for shareholders to make informed decisions when casting their votes at annual or other meetings, the Directors’ Report provides part of that essential minimum standard of information. It is complemented by the Director’s Remuneration Report and the Company Accounts.

What is Section 180 of Companies Act, 2013?

(a) to sell, lease or otherwise dispose of the whole or substantially the whole of the undertaking of the company or where the company owns more than one undertaking, of the whole or substantially the whole of any of such undertakings.

What is difference between MoA and AoA?

Comparison Chart : MoA Vs AoA Memorandum of Association refers to a charter document that encloses key detail which is necessary for company’s incorporation. Articles of Association refer to documents that contain all the norms and rules that regulate the company.

Who can investigate company?

9. The Central Govt. may appoint any officer of Govt., any private professional or group/firm of professionals as inspector for investigation. It should however be ensured that there is no conflict of interest.

Who appoints cost auditor?

the Board of Directors
The cost auditor is to be appointed by the Board of Directors on the recommendation of the Audit Committee, where the company is required to have an Audit Committee.