The Companies Act 2013 UPSC notes -Target IAS ಕನ್ನಡ

The Companies Act, 2013 is a key legislation in India that regulates the formation, functioning, and dissolution of companies. It replaced the Compani
Companies Act, 2013 The Companies Act, 2013 is a key legislation in India that regulates the formation, functioning, and dissolution of companies. It replaced the Companies Act, 1956 , with significant updates to align with modern corporate practices and global standards. Below are comprehensive notes tailored for UPSC Prelims: Introduction Enacted : 29th August 2013. Effective Date : Partially implemented from 1st April 2014. Objective : To ensure better governance, transparency, accountability, and ease of doing business. Replaced : The Companies Act, 1956. Key Features 1. Simplification and Modernization Streamlined provisions to reduce complexities in company operations. Promoted ease of doing business by reducing procedural requirements. 2. Types of Companies Private Company : Minimum 2 members, maximum 200 members. Public Company : Minimum 7 members, no maximum limit. One Person Company (OPC) : Introduced for single-member ownership. Small Company : Companies with paid-up capital not exceeding ₹2 crore…