What is Section 293 of the Companies Act?

293Circulation of written resolution proposed by members or by sending copies to some members in accordance with paragraph (a) and submitting a copy or copies to other members in accordance with paragraph (b).

How new Companies Act 2013 is different from Companies Act 1956?

In Companies Act 1956, only public financial institution, public sector banks or scheduled bank with main object of financing were allowed to issue there shelf prospectus but now Companies Act 2013 provides that the government shall prescribe the types of companies that can issue shelf prospectus.

What are the borrowing powers of a company?

It is well settled that the borrowing powers of a company include power to mortgage or charge the assets. A company cannot borrow on the security of reserve capital. Borrowing power of a company under the Companies Act is a restricted and guided power.

What is Section 185 of Companies Act 2013?

Under Section 185 of the Companies Act, 2013, the company cannot provide loans directly or indirectly, including any loans represented by credit cards: To any of its directors. To any other person, the director is interested in. Provide security in respect of loans taken by the director or any such person.

Which act was replaced by the Companies Act, 1956?

The Indian Companies Act 2013
The Indian Companies Act 2013 replaced the Indian Companies Act, 1956. The Companies Act 2013 makes comprehensive provisions to govern all listed and unlisted companies in the country. The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013.

How many sections are there in the Companies Act, 1956?

658 sections
The Companies Act 1956 is 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. The Act is 658 sections long.

What is the difference between Companies Act, 1956 and 2013 UPSC?

The Companies Act of 2013 has 464 sections and 7 schedules. The Companies Act of 1956 had 658 sections and 15 schedules. As per Companies Act of 1956, one person cannot form a company and as per Companies Act of 2013, one person can form a one person company.