What is Section 187 of Companies Act?
What is Section 187 of Companies Act?
(1) Every company shall, from the date of its registration, maintain a register in Form MBP3 and enter therein, chronologically, the particulars of investments in shares or other securities beneficially held by the company but which are not held in its own name and the company shall also record the reasons for not …
Is it mandatory to hold board meeting in every quarter?
The Board shall meet at least once in every calendar quarter, with a maximum interval of one hundred and twenty days between any two consecutive Meetings of the Board, such that at least four Meetings are held in each Calendar Year.
How many companies can a person be a director?
twenty companies
(1) No person, after the commencement of this Act, shall hold office as a director , including any alternate directorship, in more than twenty companies at the same time: Provided that the maximum number of public companies in which a person can be appointed as a director shall not exceed ten.
When was the Companies Act last amended?
447. The Companies Act, 2013 has undergone amendments in 2015, 2017, 2019 and by Amendment Act, 2020.
Which act has replaced the Companies Act 1956?
the companies Act 2013
However, currently there are only 484 (470-43+57) sections in this Act. The Act has replaced The Companies Act, 1956 (in a partial manner) after receiving the assent of the President of India on 29 August 2013. The section 1 of the companies Act 2013 came into force on 30 August 2013 .
What happened to Companies Act, 1956?
The Act was administered by the Government of India through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc….
| Companies Act 1956 | |
|---|---|
| Enacted | 18 January 1956 |
| Commenced | 1 April 1956 and amendment 2015 |
| Repeals |
In which year was the Companies Act, 1956 amended?
| Companies Act 1956 | |
|---|---|
| Enacted | 18 January 1956 |
| Commenced | 1 April 1956 and amendment 2015 |
| Repeals | |
| Some provisions of the Act are still in force (as per Ministry of Corporate Affairs Website) |
What is the maximum gap between two board meetings?
Extension of Time Gap Between Board Meetings Section 173 of the Act provides that the gap between two board meetings of a company must not exceed 120 days, and it should conduct a minimum of four board meetings in a year. The MCA extended the period of interval between two board meetings by an additional 60 days.
