183 new section of Companies Act 2013 applicable wef 01.04.2014

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The Ministry of Corporate Affairs has notified 183 new sections of the Companies Act 2013 on 26.03.2014 ,which are applicable wef 01.04.2014 .

Further some sub- sections of section earlier notified are also notified. With the notification of these sections, now a total of 283 sections of the new Act stand notified.


The List of sections notified under Phase III along with title is given below:

Chapter 1 - Preliminary
  • Section 2 – Definitions
    • Clause (2) - Accounting Standards
    • Clause (7) - Auditing Standards
    • Clause (13) - Books of Accounts
    • Clause (31) - Deposits
    • Clause (41) - Financial year
    • Clause (42) - Foreign company
    • Clause (47) - Independent Director
    • Clause (48) - Indian Depository Receipt
    • Clause (62) - One Person Company
    • Clause (83) - Serious Fraud Investigation Office
    • Clause (85) - Small Company
    • Explanation (d) of clause (87)
Chapter II -Incorporation of Company and Matters Incidental Thereto
  • Section 3 - Formation of a company
  • Section 4 - Memorandum of a company
  • Section 5 - Articles of a company
  • Section 6 - Act to override memorandum and article
  • Section 7 - Incorporation of a company [except sub- section (7)]
  • Section 8 - Formation of a company with charitable objects [except sub- section (9)]
  • Section 9 - Effect of registration
  • Section 10 - Effect of memorandum and articles
  • Section 11 - Commencement of business
  • Section 12 - Registered office of the company
  • Section 13 - Alteration of Memorandum
  • Section 14 - Alteration of articles [except 2nd Proviso to (1) & (2)]
  • Section 15 - Alteration of memorandum and articles to be noted in every copy
  • Section 16 - Rectification of name of company
  • Section 17 - Copies of memorandum and articles, etc. to be given to members
  • Section 18 - Conversion of company already registered
  • Section 20 - Service of documents
Chapter III -Prospectus and Allotment of Securities
  • Section 23(1) (b) & (2) - Public offer and private placement [remaining provisions already notified in 2nd phase]
  • Section 25(3) - Documents containing offer of securities for sale to be deemed prospectus [remaining provisions already notified in 2nd phase]
  • Section 26 - Matters to be stated in prospectus
  • Section 27 - Variation in terms of contract or objects in prospectus
  • Section 28 - Offer of sale of shares by certain members of company
  • Section 33(3) - Issue of application forms for securities [remaining provisions already notified in 2nd phase]
  • Section 35(1)(e) - Civil liability for misstatements in prospectus [remaining provisions already notified in 2nd phase]
  • Section 39(4) - Allotment of securities by company [remaining provisions already notified in 2nd phase]
  • Section 40(6) - Securities to be dealt with in stock exchanges [remaining provisions already notified in 2nd phase]
  • Section 41 - Global depository receipt
  • Section 42 - Offer or invitation for subscription of securities on private placement
Chapter IV – Share Capital and Debentures
  • Section 43 - Kinds of share capital
  • Section 46 - Certificate of shares
  • Section 47 - Voting rights
  • Section 52 - Application of premiums received on issue of shares
  • Section 53 - Prohibition on issue of shares at discount
  • Section 54 - Issue of sweat equity shares
  • Section 55 - Issue and redemption of preference shares [except sub section (3)]
  • Section 56 - Transfer and transmission of securities
  • Section 61 - Powers of limited company to alter its share capital [except proviso to (1)(b)]
  • Section 62 - Further issue of share capital [ except sub section (4) to (6)]
  • Section 63 - Issue of bonus shares
  • Section 64 - Notice to be given to Registrar for alteration of share capital
  • Section 67 - Restriction on purchase by company or giving of loans by it for purchase of its shares
  • Section 68 - Power of company to purchase its own securities
  • Section 70(2) - Prohibition for buy back in certain circumstances [remaining provisions already notified in 2nd phase]
  • Section 71 - Debentures [except sub section (9) to (11)]
  • Section 72 - Power to nominate
Chapter V - Acceptance of Deposits by Companies
  • Section 73 - Prohibition on acceptance of deposits from public [except sub-section (4)]
  • Section 74 (1) - Repayment of deposits, etc., accepted before commencement of this Act.
  • Section 76 - Acceptance of deposits from public by certain companies
Chapter VI - Registration of Charges
  • Section 77 - Duty to register charges, etc.
  • Section 78 - Application for registration of charge
  • Section 79 - Section 77 to apply in certain matters
  • Section 80 – Date of notice of charge
  • Section 81 – Register of charges to be kept by Registrar
  • Section 82 – Company to report satisfaction of charge
  • Section 83 – Power of Registrar to make entries of satisfaction and release in absence of intimation from company
  • Section 84 – Intimation of appointment of receiver or manager
  • Section 85 – Company’s register of charges
  • Section 87 - Rectification by Central Government in register of Charges
Chapter VII - Management and Administration
  • Section 88 - Register of Members
  • Section 89 - Declaration in respect of beneficial interest in any share
  • Section 90 - Investigation of beneficial ownership of shares in certain cases
  • Section 92 - Annual Return
  • Section 93 - Return to be filed with Registrar in case promoters’ stake changes
  • Section 94 - Place of keeping and inspection of registers, returns, etc
  • Section 95 - Registers, etc, to be evidence
  • Section 96 - Annual general meeting
  • Section 100 (6) - Calling of extraordinary general meeting [remaining provisions already notified in 2nd phase]
  • Section 101 - Notice of meeting
  • Section 105 - Proxies [3rd & 4th proviso to sub - section (1) & (7)] [remaining provisions already notified in 2nd phase]
  • Section 108 - Voting through electronic means
  • Section 109 - Demand for poll
  • Section 110 - Postal ballot
  • Section 113 (1) (b) - Representation of Corporations at Meeting of Companies and of Creditors [remaining provisions already notified in 2nd phase]
  • Section 115 - Resolutions requiring Special Notice
  • Section 117 - Resolutions and agreements to be filed
  • Section 118 - Minutes of proceedings of general meeting, meeting of Board of Directors and other meeting and resolutions passed by postal ballot
  • Section 119 - Inspection of minute-books of General Meeting [except sub- section (4)]
  • Section 120 - Maintenance and inspection of documents in electronic form
  • Section 121 - Report on annual general meeting
  • Section 122 - Applicability of this Chapter to One Person Company
Chapter VIII - Declaration and Payment of Dividend
  • Section 123 - Declaration of Dividend
  • Section 126 - Right to dividend, rights shares and bonus shares to be held in abeyance pending Registration of transfer of shares
Chapter IX - Accounts of Companies
  • Section 128 - Books of account, etc, to be kept by company
  • Section 129 - Financial statement
  • Section 134 - Financial statement, Board’s report, etc
  • Section 136 - Right of member to copies of Audited Financial Statement
  • Section 137 - Copy of financial statement to be filed with Registrar
  • Section 138 - Internal audit
Chapter X - Audit and Auditors
  • Section 139 - Appointment of auditors
  • Section 140 - Removal, resignation of auditor and giving of special notice [except 2nd proviso to sub-section (4) & (5)]
  • Section 141 - Eligibility, qualifications and disqualifications of auditors
  • Section 142 - Remuneration of auditors
  • Section 143 - Powers and duties of auditors and auditing Standards
  • Section 144 - Auditor not to render certain services
  • Section 145 - Auditor to sign audit reports, etc
  • Section 146 - Auditors to attend general meeting
  • Section 147 - Punishment for contravention
  • Section 148 - Central Government to specify audit of items of cost in respect of certain companies
Chapter XI - Appointment and Qualifications of Directors
  • Section 149 - Company to have Board of Directors
  • Section 150 - Manner of selection of independent directors and maintenance of data bank of Independent Directors
  • Section 151 - Appointment of Directors elected by Small Shareholders
  • Section 152 - Appointment of Directors
  • Section 153 - Application for allotment of Director Identification Number
  • Section 154 - Allotment of Director Identification Number
  • Section 155 - Prohibition to obtain more than one Director Identification Number
  • Section 156 - Director to intimate Director Identification Number
  • Section 157 - Company to inform Director Identification Number to Registrar
  • Section 158 - Obligation to indicate Director Identification Number
  • Section 159 - Punishment for contravention
  • Section 160 - Right of persons other than retiring directors to stand for directorship
  • Section 161(2) - Appointment of Additional Director, Alternate Director and Nominee Director [remaining provisions already notified in 2nd phase]
  • Section 164 - Disqualifications for appointment of director
  • Section 165 - Number of directorships
  • Section 166 - Duties of directors
  • Section 167 -Vacation of office of Director
  • Section 168 - Resignation of Director
  • Section 169 - Removal of Directors [except sub- section (4)]
  • Section 170 - Register of Directors and Key Managerial Personnel and their shareholding
  • Section 171 – Members right to Inspect
  • Section 172 - Punishment
Chapter XII – Meetings of Board and its Powers
  • Section 173 - Meetings of Board
  • Section 174 – Quorum for meetings of Board
  • Section 175 - Passing of Resolution by Circulation
  • Section 177 - Audit Committee
  • Section 178 - Nomination and Remuneration Committee and Stakeholders Relationship Committee
  • Section 179 - Powers of Board
  • Section 184 - Disclosure of interest by Director
  • Section 186 - Loan and Investment by Company
  • Section 187 - Investments of company to be held in its own name
  • Section 188 - Related Party Transactions
  • Section 189 - Register of contracts or arrangements in which directors are interested
  • Section 190 - Contract of employment with Managing or Whole-time Directors
  • Section 191 - Payment to director for loss of office, etc, in connection with transfer of undertaking property or shares
  • Section 193 - Contracts by One Person Company
Chapter XIII - Appointment and Remuneration of Managerial Personnel
  • Section 196 - Appointment of Managing director, Whole-time Director or Manager
  • Section 197 - Overall maximum Managerial Remuneration and Managerial remuneration in case of absence or inadequacy of profits
  • Section 198 - Calculation of Profits
  • Section 199 - Recovery of remuneration in certain cases
  • Section 200 - Central Government or company to fix a limit with regard to remuneration
  • Section 201 - Forms of and procedure in relation to certain applications
  • Section 203 - Appointment of key managerial personnel
  • Section 204 - Secretarial audit for bigger companies
  • Section 205 - Functions of company secretary
Chapter XIV – Inspection, Inquiry and Investigation
  • Section 206 - Power to call for information, inspect books and conduct inquiries
  • Section 207 - Conduct of inspection and inquiry
  • Section 208 - Report on inspection made
  • Section 209 - Search and seizure
  • Section 210 - Investigation into affairs of company
  • Section 211 - Establishment of Serious Fraud Investigation Office
  • Section 212 - Investigation into affairs of Company by Serious Fraud Investigation Office [except references of sub-sections (10) of section 66, sub-section (5) of section 140, section 213, sub-section (1) of sections 251 and sub-section (3) of section 339 made in sub-section (6) and also sub-sections (8) to (10)]
  • Section 214 - Security for payment of costs and expenses of investigation
  • Section 215 - Firm, body corporate or association not to be appointed as inspector
  • Section 216 - Investigation of ownership of company [ except sub-section (2)]
  • Section 217 - Procedure, powers, etc, of inspectors
  • Section 219 - Power of inspector to conduct investigation into affairs of related companies, etc
  • Section 220 - Seizure of documents by inspector
  • Section 223 - Inspector’s report
  • Section 224 - Actions to be taken in pursuance of inspector’s report [ except sub – section (2) & (5)]
  • Section 225 - Expenses of investigation
  • Section 228 - Investigation etc of foreign companies
  • Section 229 - Penalty for furnishing false statement, mutilation, destruction of documents
Chapter XXI – Companies Authorised to Register Under this Act
  • Section 366 – Companies capable of being registered
  • Section 367 – Certificate of registration of existing companies
  • Section 368 – Vesting of property on registration
  • Section 369 – Saving of existing liabilities
  • Section 370 – Continuation of pending legal proceedings (except proviso)
  • Section 371 - Effects of registration under this part
  • Section 374 – Obligation of companies registering under this part
Chapter XXII - Companies Incorporated Outside India
  • Section 380 - Documents, etc, to be delivered to Registrar by foreign companies
  • Section 381 - Accounts of foreign company
  • Section 384 - Debentures, annual return, registration of charges, books of account and their inspection
  • Section 385 - Fee for registration of documents
  • Section 386(a) – Interpretation [remaining provisions already notified in 2nd phase]
  • Section 387 - Dating of prospectus and particulars to be contained therein
  • Section 388 - Provisions as to expert’s consent and allotment
  • Section 389 - Registration of prospectus
  • Section 390 - Offer of Indian Depository Receipts
  • Section 391(1) - Application of sections 34 to 36 and Chapter XX
  • Section 392 - Punishment for contraventionm
  • Section 393 - Company’s failure to comply with provisions of this Chapter not to affect validity of contracts, etc
Chapter XXIII - Government Companies
  • Section 395 - Annual Reports where one or more State Governments are members of companies
Chapter XXIV – Registration Offices and Fees
  • Section 396 - Registration offices
  • Section 397 - Admissibility of certain documents as evidence
  • Section 398 - Provisions relating to filing of applications, documents, inspection, etc, in electronic form
  • Section 399 - Inspection, production and evidence of documents kept by Registrar [except reference of word Tribunal in sub section (2)]
  • Section 400 - Electronic form to be exclusive, alternative or in addition to physical form
  • Section 401 - Provision of value added services through electronic form
  • Section 402 - Application of provisions of Information Technology Act, 2000
  • Section 403 - Fee for filing, etc
  • Section 404 - Fees, etc, to be credited into public account
Chapter XXVI – Nidhis
  • Section 406 - Power to modify Act in its application to Nidhis
Chapter XXVIII - Special Courts
  • Section 442 - Mediation and Conciliation Panel
Chapter XXIX – Miscellaneous
  • Section 454 - Adjudication of penalties
  • Section 455 - Dormant Company
  • Section 464 - Prohibition of association or partnership of persons exceeding certain number
Schedule I  -  Memorandum of Association
Schedule II  -  Useful lives to compute depreciation
Schedule III  -  General instructions for preparation of Balance sheet and Statement of Profit & Loss
Schedule IV  -  Code of Independent Directors
Schedule V  -  Conditions to be fulfilled for the appointment of a Managing or Whole-time Director or a Manager without approval of the Central Government
Schedule VI  -  Infrastructural Projects or Infrastructural facilities – specification of activities to be included

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