How many schedules were there in the Companies Act, 1956?
1. Journey of the Companies Act so far
| Companies Act 1956 | Companies Act 2013 |
|---|---|
| 658 Sections | 470 Sections |
| 15 Schedules | 7 Schedules |
| XIII Parts | 29 Chapters |
What are schedules in Companies Act?
List of Schedules under Companies Act 2013
- Schedule I: Memorandum and Articles (Section 4 and 5)
- Schedule II: Depreciation (Section 123)
- Schedule III: Balance Sheet and Statement of Profit & Loss (Section 129)
- Schedule IV: Code for Independent Directors (Section 149(8))
How many Schedules are there in Companies Act, 2013?
7 schedules
The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules.
What is section 9 of Companies Act?
From the date of incorporation mentioned in the certificate of incorporation, such subscribers to the memorandum and all other persons, as may, from time to time, become members of the company, shall be a body corporate by the name contained in the memorandum, capable of exercising all the functions of an incorporated …
What is Schedule 1 of Companies Act?
(i) A person whose shares have been forfeited shall cease to be a member in respect of the forfeited shares, but shall, notwithstanding the forfeiture, remain liable to pay to the company all monies which, at the date of forfeiture, were presently payable by him to the company in respect of the shares.
What is Table A of Companies Act 1956?
The Board – (a) may, if it thinks fit, receive from any member willing to advance the same, all or any part of the moneys uncalled and unpaid upon any shares held by him; and (b) upon all or any of the moneys so advanced, may (until the same would, but for such advance, become presently payable) pay interest at such …
What is Schedule III of Companies Act?
(iii) Disputed dues – MSME. (iv) Disputed dues – Others. 3. Trade Receivables ageing schedule: The note on Long Term Trade Receivables in Other non -current assets due for payment to the Company shall consist of an ageing schedule as follows: Trade payables ageing Schedule.
What is Schedule 6 of Companies Act?
1.1 Schedule VI to the Companies Act, 1956 (‘the Act’) provides the manner in which every company registered under the Act shall prepare its Balance Sheet, Statement of Profit and Loss and notes thereto.
What are 7 schedules of Companies Act, 2013?
| Schedules | ||
|---|---|---|
| SCH-01 | : | SCHEDULE I – See sections 4 and 5 |
| SCH-04 | : | SCHEDULE IV-See section 149(7) |
| SCH-05 | : | SCHEDULE V -See sections 196 and 197 |
| SCH-06 | : | SCHEDULE VI -See sections 55 and 186 |
What is Schedule VI of Companies Act 1956?
What is Section 10 of the Companies Act 1956?
Any person aggrieved by any decision or order of the Company Law Board may file an appeal to the High Court within sixty days from the date of communication of the decision or order of the Company Law Board to him on any question of law arising out of such order: Provided that the High Court may, if it is satisfied …
What is the difference between Companies Act 1956 and 2013?
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 do you mean by Table A?
Table A in UK company law is the old name for the Model Articles or default form of articles of association for companies limited by shares incorporated either in England and Wales or in Scotland before 1 October 2009 where the incorporators do not explicitly choose to use a modified form.
What is d1 of Schedule 3?
The Division I to the Schedule III of the Companies Act, 2013 lays down the format for preparation of the financial statements by the Companies that are required to comply with Companies (Accounting Standards), Rules, 2006, and has been amended by the Ministry of Corporate Affairs vide notification dated 11th October.
What is schedule 3 of companies Act?
Disclosure on utilization of borrowings: Where the Company has not used the borrowings from banks and financial institutions for the purpose for which it was taken at the Balance Sheet date, the Company shall disclose the details of where they have been used.
What is schedule VI of companies Act 1956?
What is Schedule 3 of Companies Act?
What is the difference between Schedule III and Schedule VI?
21 April 2015 Schedule III of the Companies Act, 2013 contains a format for preparation and presentation of financial statements. . Except for addition of general instructions for preparation of Consolidated Financial Statements (CFS), the format of financial statements given in the Companies Act, 2013 is the same as …
What does the section 12 of Companies Act 1956 deals with?
(1) Any seven or more persons, or where the company to be formed will be a private company, any two or more persons, associated for any lawful purpose may, by subscribing their names to a memorandum of association and otherwise complying with the requirements of this Act in respect of registration, form an incorporated …
What is Section 25 of Companies Act 1956?
the Central Government may, by licence, authorise the company by a special resolution to change its name, including or consisting of the omission of the word” Limited” or the words” Private Limited”; and section 23 shall apply to a change of name under this sub- section as it applies to a change of name under section …
What is difference between MOA and AOA?
‘Memorandum of Association’ abbreviated as MOA, is the root document of the company, which contains all the basic details about the company. On the other hand, ‘Articles of Association’ shortly known as AOA, is a document containing all the rules and regulations designed by the company.
Which sections of Companies Act 1956 are still applicable?
Sections of Companies Act 1956 still applicable
- Section 106. You should be login to view data.
- Section 107. You should be login to view data.
- Section 80A. You should be login to view data.
- Section 81. You should be login to view data.
- Section 117B (4) You should be login to view data.
- Section 117C.
- Section 58A.
- Section 167.
What is the meaning of table F?
TABLE F — ARTICLES OF ASSOCIATION OF A COMPANY LIMITED BY SHARES. So it is applicable to all companies private or listed which are limited by shares.
What is the role of Table A in company formation?
From 1 October 2009, Table A is superseded by the model articles set out in the Schedules to the Companies (Model Articles) Regulations 2008 which provide respective default sets of articles for private limited companies, public limited companies and companies limited by guarantee incorporated on or after that date.