The Companies Act, 2013 (18 of 2013)

      The Companies Act 2013 is an Act of the Parliament of India , divided into 29 chapters containing 470 sections and has 7 schedules. The Act has replaced The Companies Act, 1956 after receiving the assent of the President of India on 29 August 2013. The Act came into force on 12 September 2013 with only 98 provisions of the Act notified. A total of another 184 sections came into force from 1 April 2014. At present, almost all the sections are notified. 

      The changes in the 2013 Act have far-reaching implications that are set to significantly change the manner in which corporates operate in India. Companies Act 2013 regulates incorporation of a company, responsibilities of a company, directors, dissolution of a company . The  Act came up with so many new concepts like One Person Companies (OPC), Women Directors, Corporate Social Responsibility, Registered Valuers, Rotation of Auditors, Class Action, Dormant Company, Fast Track Mergers, Serious Fraud Investigation Office.