Welcome to the official blog of the Law Offices of Kr. Vivek Tanwar Advocate and Associates, where we are dedicated to providing litigation support services for matters related to company law. In today’s blog post, we aim to shed light on the prevailing issues surrounding corporate law, the legal framework in place for their protection, and the steps we can take as a society to combat these acts. Join us as we explore this critical subject and empower you with the knowledge to protect your rights and safety.

The Companies Act 1956 and the Companies Act 2013 are two significant legislations that govern the incorporation, functioning, and regulation of companies in India. Here are some key differences between the two acts:

  1. Modernization and Consolidation: The Companies Act 2013 aimed at modernizing and consolidating the existing company law framework, replacing the outdated provisions of the Companies Act 1956.
  2. Separate Legal Entity: The Companies Act 2013 reinforced the concept of a company as a separate legal entity distinct from its shareholders, providing more clarity and legal recognition to this principle.
  3. E-Governance and Digitalization: The Companies Act 2013 introduced various provisions for e-governance and digitalization, allowing online filing of documents, electronic communication, and electronic voting for meetings, bringing about greater efficiency and transparency.
  4. Corporate Social Responsibility (CSR): The Companies Act 2013 made CSR mandatory for certain companies, requiring them to spend a prescribed percentage of their profits on social and environmental initiatives.
  5. One Person Company (OPC): The Companies Act 2013 introduced the concept of an OPC, allowing a single individual to form and operate a company, providing a simpler option for entrepreneurs.
  6. Class Action Suit: The Companies Act 2013 introduced the provision of class action suits, enabling shareholders and depositors to take legal action against the company for matters that affect their interests.
  7. Independent Directors and Board Structure: The Companies Act 2013 emphasized the role of independent directors, introduced new criteria for their appointment, and established guidelines for the composition and functioning of boards of directors.
  8. Merger and Amalgamation: The Companies Act 2013 introduced a simplified and streamlined process for mergers and amalgamations, ensuring greater protection of the interests of shareholders and creditors.
  9. Stricter Penalties and Enforcement: The Companies Act 2013 introduced stricter penalties and increased regulatory oversight, aiming to curb corporate fraud, improve corporate governance, and enhance accountability.
  10. Shareholder Rights and Protection: The Companies Act 2013 strengthened shareholder rights and protection, introduced provisions for minority shareholders’ rights, and enhanced disclosure requirements to ensure transparency.

These are some of the notable differences between the Companies Act 1956 and the Companies Act 2013. The Companies Act 2013 brought about significant reforms and aimed to align the company law framework with modern business practices and corporate governance standards.

we are a law firm in the name and style of Law Office of Kr. Vivek Tanwar Advocate and Associates at Gurugram and Rewari. We are providing litigation support services for matters related to Company laws. We have a website on which we publish blogs informing the litigants about the said laws. Draft a blog which can be published on our website…..

Written by: Adv.Arti Mudgil (P1267/2013) is an advocate practising in Gurugram. She has authored several articles on various topics and is passionate about women’s empowerment, Human rights and environmental law.

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