Corporation act, 1956 31 of 1956 v the unit trust of india, established under section 3 of the unit trust of india act, 1963 52 of. Be it enacted by parliament in the sixth year of the republic of india as follows. Penalty for default in complying with section 166 or 167. The companies act, 1956 existing act contains 658 sections and xv schedules.
Construction of references in other acts to companies registered under. Prescribes companies of a particular class to appoint an internal auditor who can be a ca or cwa or of any other professional as may be decided by the board. Penalty where no specific penalty is provided elsewhere in the act 630. Companies act, 1956 1 of 1956 or the securities and exchange board of india act, 1992 15 of 1992 or the depositories act, 1996 22 of 1996 shall have the same meanings respectively assigned to them in those acts. Full text containing the act, companies act, 1956, with all the sections, schedules. Amendments in the indian companies act of 1956 legal.
Section 629a of the companies act as accused violated sec. The companies act 1956 contains more of general penalty provisions under section 629a. General law amendment act 50 of 1956 english text signed by the governorgeneral as amended by prisons act 8 of 1959 supreme court act 59 of 1959 general law amendment act 80 of 1964 general law amendment act 70 of 1968. Prosecution and enforcement architecture under the companies act, 20. If a company or any other person contravenes any provision of this act for which no punishment is provided elsewhere in this act or any condition, limitation or restriction subject to which any approval, sanction, consent, confirmation, recognition, direction. Calculation of profits 1 in computing the net profits of a company in any financial year for thepurpose of section 197, a credit shall be given for the sums specified in sub section 2, and creditshall not be given for those specified in sub section 3. Restriction of section 715 in the case of shares allotted in return for acquisition of issued shares of body corporate. Annual reports where one or more state governments are members of companies. The act, has lesser sections as the companies will be governed more through the rules which are yet to be prescribed.
Notwithstanding anything contained in the code of criminal procedure, 1973 2 of 1974, any offence punishable under this act whether committed by a company or any officer thereof, not being an offence punishable with imprisonment only, or with imprisonment and. Table containing provisions of companies act, 20 as notified up to 28. In this act, unless the context otherwise requires, 1 abridged prospectus means a memorandum containing such salient features of a prospectus as may be prescribed. Seven punishments in companies act 20 section 447 to 453. Part ixa of companies act, 1956 income tax department. While introducing the bill in the lok sabha, the honble finance and corporate affairs minister, nirmala sitharaman said, the bill seeks to. Companies act, 1956 section 303 to 674 latest laws. Here is the pdf file for companies act, 20 and 1956. May 2020 edition of my ebook on the companies act, 20 is available for sale from may 4, 2020. If any person intentionally gives false evidenceupon any examination upon oath or solemn affirmation, authorised under this act. Companies act 1956, 20 pdf bare act, bare act pdf, law.
The companies act 1956 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, the companies act 1956 national security, others, procedural and administration, property related, public utilities, shipping laws, tax laws. Company law section 68 of the companies act, 20 empowers a company to purchase its own shares or other securities in certain cases. Companies act 1956 by study material lecturing notes pdf. Sections 68 to 70 of the companies act, 20 and rule 17 of the companies share capital and debentures rules, 2014 deal with buyback of shares. Section 20 companies not to be registered with undesirable names. Chapter xix revival and rehabilitation of sick companies. This is a ready reckoner for the information of stakeholders. Provisions of part ix a of the companies act, 1956 shall be applicable mutatis mutandis to a producer company in a manner as if the companies act, 1956 has not been repealed. The companies act 1956 section 629a penalty where no.
Table containing provisions of companies act, 20 as notified up to date and corresponding provisions thereof under companies act, 1956. This section corresponds section 629 of the 1956 act, and one of the very important section for. Please refer to schedule 5 of the new companies act, no. Companies act 1963 act 179 section 1commencement spent. Updated and amended bare acts in pdf format of companies act 1956 and companies act 20. Exclusion of certain directorships for the purposes of sections 275, 276 and 2. The companies act 20 has 464 sections and 7 schedules. Penalty where no specific penalty is provided elsewhere. Companies act, 1956 upto section 302 repealed application of section 159 to foreign companies rules, 1975. Choice to be made by director of more than twenty companies at commencement of act. When such an association of persons is registered under the companies act, it becomes an artificial person with perpetual succession and common seal. This section corresponds to section 629a of companies act, 1956 and provides penalty for those cases where no specific penalty has been provided in the respective section or any where else in the act. See gazette of india, extraordinary, 1956, part ii, section 3, p.
Section 629a in the companies act, 1956 indian kanoon. Choice by person becoming director of more than twenty companies after commencement of act. Provisions of section 619 to apply to certain companies 620. Be it enacted by parliament in the seventh year of the republic of india as follows. Companies act in pdf is available for students and professionals. Section 321 of the sic act coupled with clause 8 of ex. A company means a group of persons associated together for the attainment of a common end, social or economic.
Explore the companies act 20 and companies act 1956. If a company or any other person contravenes any provision of this act for which no punishment is provided elsewhere in this act or any condition, limitation or restriction subject to which any approval, sanction, consent. Securities contracts regulation act, 1956 42 of 1956 an act to prevent undesirable transactions in securities by regulating the business of dealing therein, 1 by providing for certain other matters connected therewith. Companies act 71 of 2008 english text signed by the president assented to. Section 31i of the companies act, 1956 defines a company as. Power to modify act in relation to government companies 620a.
Companies act 1956 section 629a judgments legalcrystal. A brief write up on amendments in the indian companies act of 1956 by corporate lawyers. The indian companies act, 1956 basic concept the word. Definitions of company, existing company, private company and public company 4.
Certain penal provisions provide for imposition of penalty of fine as well as penalty of imprisonment. Penalty where no specific penalty is provided elsewhere in the act. Companies act 1956 section 629a sortby recent page 2. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of.
The companies act 1956 section 629a penalty where no specific. We are a law firm delhi and provide all legal services in the fields of the company act, 1956, call us for any urgent requirements at our board no. Highlights of the companies amendment act, 2019 the companies amendment act, 2019 received the assent of the president on the 31st july, 2019. As per section 624 of the companies act 1956, all offences under the act are almost bailable offences and generally. A company is defined as, a company formed and registered under this act or an existing company. Section 210 of the companies act, 1956 which is modelled. Be it enacted by parliament in the sixth year of the republic of india as follows 1. The notes below are prepared based on the provisions of the act. D2 order and as a1 company increased authorized capital from rs. This section is substantially the securities and exchange commissions rule x10b5, 17 code fed. No ce pursuant to sec on 192a2 of the companies act, 1956 read with the. Amends section 219 of the companies act 46 of 1926.
In this code, unless the context otherwise requires, the expressions defined in the first schedule hereto shall have the meanings assigned to them in that schedule. Chapter xxi part i companies authorised to register under this act. Read both companies act 201956 in a unique manner with inbuilt links to rules, sections etc. Companies act, 1956 bare acts law library advocatekhoj. An act to consolidate and amend the law relating to companies and certain other associations. Share capital to stand increased where an order is made under section 814. Introductionwhat is company a company is an artificial person created by law.
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