Enumerate the nighlignts of New Indian Companies Act 2013
Answers
Explanation:
Parliament approved the long-awaited overhaul of legislation governing Indian companies on 9 August 2013. The new law is aimed at easing the process of doing business in India and improving corporate governance by making companies more accountable. The 2013 Act also introduces new concepts such as one – Person Company, small company, dormant company and corporate social responsibility (CSR) etc.
To achieve further alignment with the provisions of the Companies Act 2013, SEBI issued a revised Clause 49 which would be applicable to all listed companies with effect from October 1, 2014. While there is a great level of congruence between the two, however, in a few areas the revised clause 49 has imposed much stricter requirements than Companies Act 2013.
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