All categories
A Ramaiya Guide to the Companies Act (Providing Guidance on the Companies Act, 2013) (Box 2) (5 Parts Set)

A Ramaiya Guide to the Companies Act (Providing Guidance on the Companies Act, 2013) (Box 2) (5 Parts Set)

  • ₹6,995.00

In Stock
  • Author(s): Ramaiya
  • Brand: LexisNexis
  • Edition: 18 Ed 2015
  • ISBN 13 9789351434610
  • Approx. Pages 5000 (approx.) + contents
  • Format Hardbound
  • Delivery Time Normally 7-9 working days

............................................................................................................................
Description  
The Indian Companies Act, 1913 ("1913 Act") was the first comprehensive enactment that dealt with the law relating to companies. Exactly 100 years later, the Companies Act, 2013 was enacted. After the Second World War, in the United Kingdom, a Company Law Amendment Committee was formed, popularly known as the Cohen Committee. This Committee recommended major changes to the English Companies Act, 1929 and led to the enactment of the English Companies Act, 1948. In India, a similar exercise was undertaken between 1946 and 1950. A thorough revision of the 1913 Act was made and at the end of 1950, the Government of India appointed a committee under the Chairmanship of Shri C.H. Bhabha to take note of the actual working of the 1913 Act in the light of the far-reaching changes that had taken place in the commercial world. A report was submitted in March 1952 and, four years later, the Companies Act, 1956 ("1956 Act") was enacted. Within a year, several defects and deficiencies were noted and in May 1957, a Committee was formed under the Chairmanship of A.V. Visvanatha Shastri who was not only a former Judge of the Madras High Court but also one of the most successful and versatile lawyers of the Supreme Court. Within six months, the Committee submitted its report and amendments were made to overcome practical difficulties, remove drafting defects, obscurities and lacunae and ensure the better fulfillment of the purposes of the 1956 Act. The 1956 Act was thereafter amended several times: 1960, 1962, 1963, 1964 (twice), 1965, 1966 (twice), 1967, 1968, 1969, 1971, 1974, 1977, 1984, 1985, 1988, 1991, 1996 (twice), 1997, 1999 (twice), 2000, 2001 and 2002 (thrice). Meanwhile, in the United Kingdom, the 1948 Act was replaced by the 1985 and 2006 Acts. In India, there have been several attempts over the last two decades to replace the 1956 Act and reference may be made to the Companies Bill, 2009 which was referred to a Parliamentary Committee but later withdrawn. The Companies Bill, 2011 was introduced, referred to a Parliamentary Committee and eventually became the 2013 Act. The new Act contains 470 sections and seven schedules as compared to almost 700 sections and fourteen schedules in the 1956 Act. The shrinking of the number of sections and schedules is claimed as a measure of simplification. Critics, however, say that the 2013 Act has led to further complication in several areas. The reduction in size is merely cosmetic and illusory because several sections, it is alleged, have now been compressed into one section having many sub¬sections. It is not possible to examine the inconsistencies, contradictions and lacunae in the new Act in this brief introduction but these have been pointed out wherever possible in the commentary under the relevant sections. The new Act has seen the issuance of 39 clarificatory circulars and 7 orders for the removal of difficulties. This clearly establishes the existence of several defects and deficiencies in the Act. Indeed, this was inevitable as even the 1956 Act had to be re-examined within a year of its enactment. In the present writer's view, there is an urgent need for the formation of a committee which can examine the defects in the 2013 Act and introduce a Companies (Amendment) Act, 2015, which will iron out the creases and ensure that unnecessary hurdles and difficulties for the corporate sector are removed or, at the least, substantially reduced.
............................................................................................................................
Contents  
Appendix-3—App. 181 to App. 231
Part VIII—The Securities and Exchange Board of India Act, 1992 and various Rules, Regulations and Guidelines, issued thereunder
Appendix-4—App. 232 to App. 320
Part VIII—The Securities and Exchange Board of India Act, 1992 and various Rules, Regulations and Guidelines, issued thereunder (contd.)
Part IX—The Securities Contracts (Regulation) Act, 1956 and Rules, Regulations framed thereunder and other Guidelines, issued by Government of India, Department of Economic Affairs
Appendix 5—App. 321 to App. 365
Part X—Notifications, Guidelines issued by Ministry of Finance, Department of Economic Affairs, Ministry of Industry and Reserve Bank of India on other Miscella¬neous Matters
Part XI—Miscellaneous Acts
Part XII—Secretarial Standards [issued by ICSI]
Appendix -6—App. 366 to App. 376
Part XIII—Accounting Standards, Auditing Standards and Guidance Notes [issued by ICAI]
Part XIV—Cost Accounting Standards [issued by ICWAI]
Consolidated Table of Cases & Subject Index and Additional Reference Material
Box 2 Published, bound and sold separately.
Note: Box 1 (18th Edition 2015) Priced separately contains Part 1 (Sections 1 to 127 of the Companies Act, 2013), Part 2 (Sections 128 to 240 of the Companies Act, 2013) and Part 3 (Sections 241 to 470 & Schedules of the Companies Act, 2013), Appendix 1 (App. Nos. 1 to 60) and Appendix 2 (App. Nos. 61 to 180).
............................................................................................................................

Write a review

Please login or register to review

Similar Products

Recently Viewed