Companies Act, 2013 - Quick Revision Sheet
Quick revision
Key dates
| Year | Event |
|---|---|
| 1600 | East India Company by Royal Charter |
| 1844 | First Joint Stock Companies Act in England |
| 1850 | Registration of joint stock companies provided in India |
| 1913 | Indian Companies Act introduces private companies |
| 1 April 1956 | Companies Act 1956 comes into force |
| 18 Dec 2012 / 8 Aug 2013 | Companies Bill passed in Lok Sabha / Rajya Sabha |
| 29 Aug 2013 | President's assent to the Companies Act 2013 |
Key sections
| Section | Subject |
|---|---|
| 2(11) | Body corporate |
| 2(20) | Company |
| 2(30) | Debenture |
| 2(51) | Key Managerial Person |
| 2(84) | Share |
| 3(1) | Minimum persons to form a company: 7 / 2 / 1 |
| 53 | Issue at discount prohibited |
| 54 | Sweat equity shares |
| 78 | Securities Premium Account |
Key numbers
- 2013 Act: 29 chapters, 470 sections, 7 schedules (1956 Act: 13, 658, 15).
- Private company: maximum 200 members.
- Preference shares: 20 years; infrastructure projects up to 30 years.
- Share certificate: within three months of allotment.
- Registered office notice to Registrar: within 30 days (book-back key).
Remember
- Bonus shares: free. Right shares: offered first to existing shareholders.
- Share warrant: Central Government approval needed.
- Debenture holders: creditors, fixed interest, no vote.
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