Sections |
Particulars |
Chapter I |
Preliminary |
1 |
Short title, extent, commencement and application |
2 |
Definitions |
Chapter II |
Incorporation of Company and Matters Incidental Thereto |
3 |
Formation of company |
4 |
Memorandum |
5 |
Articles. |
6 |
Act to override memorandum, articles, etc. Incorporation of company. |
7 |
Incorporation of company. |
8 |
Formation of companies with charitable objects, etc. |
9 |
Effect of registration |
10 |
Effect of memorandum and articles |
11 |
Commencement of business, etc |
12 |
Registered office of company |
13 |
Alteration of memorandum |
14 |
Alteration of articles |
15 |
Alteration of memorandum or articles to be noted in every copy |
16 |
Rectification of name of company |
17 |
Copies of memorandum, articles, etc., to be given to members |
18 |
Conversion of companies already registered |
19 |
Subsidiary company not to hold shares in its holding company |
20 |
Service of documents |
21 |
Authentication of documents, proceedings and contracts |
22 |
Execution of bills of exchange, etc |
Chapter III |
Prospectus and Allotment of Securities |
23 |
Public offer and private placement |
24 |
Power of Securities and Exchange Board to regulate issue and transfer of securities, etc |
25 |
Document containing offer of securities for sale to be deemed prospectus |
26 |
Matters to be stated in prospectus. |
27 |
Variation in terms of contract or objects in prospectus |
28 |
Offer of sale of shares by certain members of company. |
29 |
Public offer of securities to be in dematerialized form. |
30 |
Advertisement of prospectus. |
31 |
Shelf prospectus. |
32 |
Red herring prospectus |
33 |
Issue of application forms for securities |
34 |
Criminal liability for misstatements in prospectus |
35 |
Civil liability for misstatements in prospectus. |
36 |
Punishment for fraudulently inducing persons to invest money |
37 |
Action by affected persons |
38 |
Punishment for personation for acquisition, etc., of securities |
39 |
Allotment of securities by company |
40 |
Securities to be dealt with in stock exchanges |
41 |
Global depository receipt |
42 |
Offer or invitation for subscription of securities on private placement |
Chapter IV |
Share Capital and Debentures |
43 |
Kinds of share capital |
44 |
Nature of shares or debentures |
45 |
Numbering of shares |
46 |
Certificate of shares |
47 |
Voting rights |
48 |
Variation of shareholders’ rights |
49 |
Calls on shares of same class to be made on uniform basis. |
50 |
Company to accept unpaid share capital, although not called up. |
51 |
Payment of dividend in proportion to amount paid up |
52 |
Application of premiums received on issue of shares |
53 |
Prohibition on issue of shares at discount |
54 |
Issue of sweat equity shares. |
55 |
Issue and redemption of preference shares. |
56 |
Transfer and transmission of securities |
57 |
Punishment for personation of shareholder. |
58 |
Refusal of registration and appeal against refusal. |
59 |
Rectification of register of members |
60 |
Publication of authorised, subscribed and paid-up capital |
61 |
61. Power of limited company to alter its share capital |
62 |
Further issue of share capital |
63 |
Issue of bonus shares |
64 |
Notice to be given to Registrar for alteration of share capital |
65 |
Unlimited company to provide for reserve share capital on conversion into limited company |
66 |
Reduction of share capital. |
67 |
Restrictions on purchase by company or giving of loans by it for purchase of its shares |
68 |
Power of company to purchase its own securities |
69 |
Transfer of certain sums to capital redemption reserve account |
70 |
Prohibition for buy-back in certain circumstances |
71 |
Debentures |
72 |
Power to nominate |
Chapter V |
Acceptance of Deposits by Companies |
73 |
Prohibition on acceptance of deposits from public |
74 |
Repayment of deposits, etc., accepted before commencement of this Act |
75 |
Damages for fraud |
76 |
Acceptance of deposits from public by certain companies |
Chapter VI |
Registration of Charges |
77 |
Duty to register charges, etc |
78 |
Application for registration of charge |
79 |
Section 77 to apply in certain matters |
80 |
Date of notice of charge |
81 |
Register of charges to be kept by Registrar |
82 |
Company to report satisfaction of charge |
83 |
Power of Registrar to make entries of satisfaction and release in absence of intimation From company |
84 |
Intimation of appointment of receiver or manager |
85 |
Company’s register of charges |
86 |
Punishment for contravention |
87 |
Rectification by Central Government in register of charges |
Chapter VII |
Management and Administration |
88 |
Register of members, etc |
89 |
Declaration in respect of beneficial interest in any share |
90 |
Investigation of beneficial ownership of shares in certain cases |
91 |
Power to close register of members or debenture holders or other security holders |
92 |
Annual return |
93 |
Return to be filed with Registrar in case promoters’ stake changes |
94 |
Place of keeping and inspection of registers, returns, etc |
95 |
Registers, etc., to be evidence |
96 |
Annual general meeting |
97 |
Power of Tribunal to call annual general meeting |
98 |
Power of Tribunal to call meetings of members, etc |
99 |
Punishment for default in complying with provisions of sections 96 to 98 |
100 |
Calling of extraordinary general meeting |
101 |
Notice of meeting |
102 |
Statement to be annexed to notice |
103 |
Quorum for meetings |
104 |
Chairman of meetings |
105 |
Restriction on voting rights |
106 |
Voting by show of hands |
107 |
Voting by show of hands |
108 |
Voting through electronic means |
109 |
Demand for poll |
110 |
Postal ballot |
111 |
Circulation of members’ resolution |
112 |
Representation of President and Governors in meetings |
113 |
Representation of corporations at meeting of companies and of creditors |
114 |
Ordinary and special resolutions |
115 |
Resolutions requiring special notice |
116 |
Resolutions passed at adjourned meeting |
117 |
Resolutions and agreements to be filed |
118 |
Minutes of proceedings of general meeting, meeting of Board of Directors and other meeting and resol |
119 |
Inspection of minute-books of general meeting. |
120 |
Maintenance and inspection of documents in electronic form |
121 |
Report on annual general meeting |
122 |
Applicability of this Chapter to One Person Company |
Chapter VIII |
Declaration and Payment of Dividend |
123 |
Declaration and Payment of Dividend |
124 |
Unpaid Dividend Account |
125 |
Investor Education and Protection Fund |
126 |
Right to dividend, rights shares and bonus shares to be held in abeyance pending registration of tra |
127 |
Punishment for failure to distribute dividends |
129 |
Financial statement |
Chapter XI |
Accounts of Companies |
128 |
Books of account, etc., to be kept by company |
130 |
Re-opening of accounts on court’s or Tribunal’s orders |
131 |
Voluntary revision of financial statements or Board’s report |
132 |
Constitution of National Financial Reporting Authority |
133 |
Central Government to prescribe accounting standards |
134 |
Financial statement, Board’s report, etc |
135 |
Corporate Social Responsibility |
136 |
Right of member to copies of audited financial statement |
137 |
Copy of financial statement to be filed with Registrar |
138 |
Internal audit |
Chapter X |
Audit and Auditors |
139 |
Appointment of auditors |
140 |
Removal, resignation of auditor and giving of special notice |
141 |
Eligibility, qualifications and disqualifications of auditors |
142 |
Remuneration of auditors |
143 |
Powers and duties of auditors and auditing standards |
144 |
Auditor not to render certain services |
145 |
Auditor to sign audit reports, etc |
146 |
Auditors to attend general meeting |
147 |
Punishment for contravention |
148 |
Central Government to specify audit of items of cost in respect of certain companies |
Chapter XI |
Appointment and Qualifications Of Directors |
149 |
Company to have Board of Directors |
150 |
Manner of selection of independent directors and maintenance of databank of independent directors |
151 |
Appointment of director elected by small shareholders |
152 |
Appointment of directors |
153 |
Application for allotment of Director Identification Number |
154 |
Allotment of Director Identification Number |
155 |
Prohibition to obtain more than one Director Identification Number |
156 |
Director to intimate Director Identification Number |
157 |
Director to intimate Director Identification Number |
158 |
Obligation to indicate Director Identification Number |
159 |
Punishment for contravention |
160 |
Right of persons other than retiring directors to stand for directorship |
161 |
Appointment of additional director, alternate director and nominee director |
162 |
Appointment of directors to be voted individually |
163 |
Option to adopt principle of proportional representation for appointment of directors |
164 |
Disqualifications for appointment of director |
165 |
Number of directorships |
166 |
Duties of directors |
167 |
Vacation of office of director |
168 |
Resignation of director |
169 |
Removal of directors |
170 |
Register of directors and key managerial personnel and their shareholding |
171 |
Members’ right to inspect |
172 |
Punishment. Meetings of Board |
Chapter XII |
Meetings of Board and its Powers |
173 |
Meetings of Board |
174 |
Quorum for meetings of Board. |
175 |
Passing of resolution by circulation |
176 |
Defects in appointment of directors not to invalidate actions taken |
177 |
Audit Committee |
178 |
Nomination and Remuneration Committee and Stakeholders Relationship Committee |
179 |
Powers of Board |
180 |
Restrictions on powers of Board |
181 |
Company to contribute to bona fide and charitable funds, etc |
182 |
Prohibitions and restrictions regarding political contributions |
183 |
Power of Board and other persons to make contributions to national defence fund, etc |
184 |
Disclosure of interest by director |
185 |
Loan to directors, etc |
186 |
Loan and investment by company |
187 |
Investments of company to be held in its own name |
188 |
Related party transactions |
189 |
Register of contracts or arrangements in which directors are interested |
190 |
Contract of employment with managing or whole-time directors |
191 |
Payment to director for loss of office, etc., in connection with transfer of undertaking, property o |
192 |
Restriction on non-cash transactions involving directors |
193 |
Contract by One Person Company |
194 |
Prohibition on forward dealings in securities of company by director or key managerial personnel |
195 |
Prohibition on insider trading of securities |
203 |
Appointment of key managerial personnel |
Chapter XIII |
Appointment and Remuneration of Managerial Personnel |
196 |
Appointment of managing director, whole-time director or manager |
197 |
Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequac |
198 |
Calculation of profits |
199 |
Recovery of remuneration in certain cases |
200 |
Central Government or company to fix limit with regard to remuneration |
201 |
Forms of, and procedure in relation to, certain applications |
202 |
Compensation for loss of office of managing or whole-time director or manager |
204 |
Secretarial audit for bigger companies |
205 |
Functions of company secretary |
Chapter XIV |
Inspection, Inquiry And Investigation |
206 |
Power to call for information, inspect books and conduct inquiries |
207 |
Conduct of inspection and inquiry |
208 |
Report on inspection made |
209 |
Search and seizure |
210 |
Investigation into affairs of company |
211 |
Establishment of Serious Fraud Investigation Office |
212 |
Investigation into affairs of Company by Serious Fraud Investigation Office |
213 |
Investigation into company’s affairs in other cases |
214 |
Security for payment of costs and expenses of investigation |
215 |
Firm, body corporate or association not to be appointed as inspector |
216 |
Investigation of ownership of company |
217 |
Procedure, powers, etc., of inspectors |
218 |
Protection of employees during investigation |
219 |
Power of inspector to conduct investigation into affairs of related companies, etc |
220 |
Seizure of documents by inspector |
221 |
Freezing of assets of company on inquiry and investigation |
222 |
Imposition of restrictions upon securities |
223 |
Inspector’s report |
224 |
Actions to be taken in pursuance of inspector’s report |
225 |
Expenses of investigation |
226 |
Voluntary winding up of company, etc., not to stop investigation proceedings |
227 |
Legal advisers and bankers not to disclose certain information |
228 |
Investigation, etc., of foreign companies |
229 |
Penalty for furnishing false statement, mutilation, destruction of documents |
230 |
Power to compromise or make arrangements with creditors and members |
Chapter XV |
Compromises, Arrangements and Amalgamations |
231 |
Power of Tribunal to enforce compromise or arrangement |
232 |
Merger and amalgamation of companies |
233 |
Merger or amalgamation of certain companies |
234 |
Merger or amalgamation of company with foreign company |
235 |
Power to acquire shares of shareholders dissenting from scheme or contract approved by majority |
236 |
Purchase of minority shareholding |
237 |
Power of Central Government to provide for amalgamation of companies in public interest |
238 |
Registration of offer of schemes involving transfer of shares |
239 |
Preservation of books and papers of amalgamated companies |
240 |
Liability of officers in respect of offences committed prior to merger, amalgamation, etc |
276 |
Removal and replacement of liquidator |
Chapter XVI |
Prevention of Oppression and Mismanagement |
241 |
Application to Tribunal for relief in cases of oppression, etc |
242 |
Powers of Tribunal |
243 |
Consequence of termination or modification of certain agreements |
244 |
Right to apply under section 241 |
245 |
Class action |
246 |
Application of certain provisions to proceedings under section 241 or section 245 |
Chapter XVII |
Registered Valuers |
247 |
Valuation by registered valuers |
410 |
Constitution of Appellate Tribunal |
425 |
Power to punish for contempt |
431 |
Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings |
Chapter XVIII |
Removal of Names of Companies from the Register of Companies |
248 |
Power of Registrar to remove name of company from register of companies |
249 |
Restrictions on making application under section 248 in certain situations |
250 |
Effect of company notified as dissolved |
251 |
Fraudulent application for removal of name |
252 |
Appeal to Tribunal |
Chapter XIX |
Revival and Rehabilitation of Sick Companies |
253 |
Determination of sickness |
254 |
Application for revival and rehabilitation |
255 |
Exclusion of certain time in computing period of limitation |
256 |
Appointment of interim administrator |
257 |
Committee of creditors |
258 |
Order of Tribunal |
259 |
Appointment of administrator |
260 |
Powers and duties of company administrator |
261 |
Scheme of revival and rehabilitation |
262 |
Sanction of scheme |
263 |
Scheme to be binding |
264 |
Implementation of scheme |
265 |
Winding up of company on report of company administrator |
266 |
Power of Tribunal to assess damages against delinquent directors, etc |
267 |
Punishment for certain offences |
268 |
Bar of jurisdiction |
269 |
Rehabilitation and Insolvency Fund |
319 |
Power of Company Liquidator to accept shares, etc., as consideration for sale of property of company |
338 |
Liability where proper accounts not kept |
Chapter XX |
Winding Up |
270 |
Modes of winding up |
271 |
Circumstances in which company may be wound up by Tribunal |
272 |
Petition for winding up |
273 |
Powers of Tribunal |
274 |
Directions for filing statement of affairs |
275 |
Company Liquidators and their appointments |
277 |
Intimation to Company Liquidator, provisional liquidator and Registrar |
278 |
Effect of winding up order |
279 |
Stay of suits, etc., on winding up order |
280 |
Jurisdiction of Tribunal |
281 |
Submission of report by Company Liquidator |
282 |
Directions of Tribunal on report of Company Liquidator |
283 |
Custody of company's properties |
284 |
Promoters, directors, etc., to cooperate with Company Liquidator |
285 |
Settlement of list of contributories and application of assets |
286 |
Obligations of directors and managers |
287 |
Advisory committee |
288 |
Submission of periodical reports to Tribunal |
289 |
Power of Tribunal on application for stay of winding up |
290 |
Powers and duties of Company Liquidator |
291 |
Provision for professional assistance to Company Liquidator |
292 |
Exercise and control of Company Liquidator's powers |
293 |
Books to be kept by Company Liquidator |
294 |
Audit of Company Liquidator's accounts |
295 |
Payment of debts by contributory and extent of set-off |
296 |
Power of Tribunal to make calls |
297 |
Adjustment of rights of contributories |
298 |
charges Power to order costs |
299 |
Power to summon persons suspected of having property of company, etc |
300 |
Power to order examination of promoters, directors, etc |
301 |
Arrest of person trying to leave India or abscond |
302 |
Dissolution of company by Tribunal |
303 |
Appeals from orders made before commencement of Act |
304 |
Circumstances in which company may be wound up voluntarily |
305 |
Declaration of solvency in case of proposal to wind up voluntarily |
306 |
Meeting of creditors |
307 |
Publication of resolution to wind up voluntarily |
308 |
Commencement of voluntary winding up |
309 |
Effect of voluntary winding up |
310 |
Appointment of Company Liquidator |
311 |
Power to remove and fill vacancy of Company Liquidator |
312 |
Notice of appointment of Company Liquidator to be given to Registrar |
313 |
Cesser of Board's powers on appointment of Company Liquidator |
314 |
Powers and duties of Company Liquidator in voluntary winding up |
315 |
Appointment of committees |
316 |
Company Liquidator to submit report on progress of winding up |
317 |
Report of Company Liquidator to Tribunal for examination of persons |
318 |
Final meeting and dissolution of company |
320 |
Distribution of property of company |
321 |
Arrangement when binding on company and creditors |
322 |
Power to apply to Tribunal to have questions determined, etc |
323 |
Costs of voluntary winding up |
324 |
Debts of all descriptions to be admitted to proof |
325 |
Application of insolvency rules in winding up of insolvent companies |
326 |
Overriding preferential payments |
327 |
Preferential payments |
328 |
Fraudulent preference |
329 |
Transfers not in good faith to be void |
330 |
Certain transfers to be void |
331 |
Liabilities and rights of certain persons fraudulently preferred |
332 |
Effect of floating charge |
333 |
Disclaimer of onerous property |
334 |
Transfers, etc., after commencement of winding up to be void |
335 |
Certain attachments, executions, etc., in winding up by Tribunal to be void |
336 |
Offences by officers of companies in liquidation |
337 |
Penalty for frauds by officers |
339 |
Liability for fraudulent conduct of business |
340 |
Power of Tribunal to assess damages against delinquent directors, etc |
341 |
Liability under sections 339 and 340 to extend to partners or directors in firms or companies |
342 |
Prosecution of delinquent officers and members of company |
343 |
Company Liquidator to exercise certain powers subject to sanction |
344 |
Statement that company is in liquidation |
345 |
Books and papers of company to be evidence |
346 |
Inspection of books and papers by creditors and contributories |
347 |
Disposal of books and papers of company |
348 |
Information as to pending liquidations |
349 |
Official Liquidator to make payments into public account of India |
350 |
Company Liquidator to deposit monies into scheduled bank |
351 |
Liquidator not to deposit monies into private banking account |
352 |
Company Liquidation Dividend and Undistributed Assets Account |
353 |
Liquidator to make returns, etc |
354 |
Meetings to ascertain wishes of creditors or contributories |
355 |
Court, tribunal or person, etc., before whom affidavit may be sworn |
356 |
Powers of Tribunal to declare dissolution of company void |
357 |
Commencement of winding up by Tribunal |
358 |
Exclusion of certain time in computing period of limitation |
359 |
Appointment of Official Liquidator |
360 |
Powers and functions of Official Liquidator |
361 |
Summary procedure for liquidation |
362 |
Sale of assets and recovery of debts due to company |
363 |
Settlement of claims of creditors by Official Liquidator |
364 |
Appeal by creditor |
365 |
Order of dissolution of company |
Chapter XXI |
PART I Companies Authorised to Register Under this Act |
366 |
Companies capable of being registered |
367 |
Certificate of registration of existing companies |
368 |
Vesting of property on registration |
369 |
Saving of existing liabilities |
370 |
Continuation of pending legal proceedings |
371 |
Effect of registration under this Part |
372 |
Power of Court to stay or restrain proceedings |
373 |
Suits stayed on winding up order |
374 |
Obligations of companies registering under this Part |
375 |
Winding up of unregistered companies |
376 |
Power to wind up foreign companies, although dissolved |
377 |
Provisions of Chapter cumulative |
378 |
Saving and construction of enactments conferring power to wind up partnership firm, association or c |
Chapter XXII |
Companies Incorporated Outside India |
379 |
Application of Act to foreign companies |
380 |
Documents, etc., to be delivered to Registrar by foreign companies |
381 |
Accounts of foreign company |
382 |
Display of name, etc., of foreign company |
383 |
Service on foreign company |
384 |
Debentures, annual return, registration of charges, books of account and their inspection |
385 |
Fee for registration of documents |
386 |
Interpretation |
387 |
Dating of prospectus and particulars to be contained therein |
388 |
Provisions as to expert’s consent and allotment |
389 |
Registration of prospectus |
390 |
Offer of Indian Depository Receipts |
391 |
Application of sections 34 to 36 and Chapter XX |
392 |
Punishment for contravention |
393 |
Company's failure to comply with provisions of this Chapter not to affect validity of contracts, etc |
Chapter XXIII |
Government Companies |
394 |
Annual reports on Government companies |
395 |
Annual reports where one or more State Governments are members of companies |
Chapter XXIV |
Registration Offices and Fees |
396 |
Registration offices |
397 |
Admissibility of certain documents as evidence |
398 |
Provisions relating to filing of applications, documents, inspection, etc., in electronic form |
399 |
Inspection, production and evidence of documents kept by Registrar |
400 |
Electronic form to be exclusive, alternative or in addition to physical form |
401 |
Provision of value added services through electronic form |
402 |
Application of provisions of Information Technology Act, 2000 |
403 |
Fee for filing, etc |
404 |
Fees, etc., to be credited into public account |
Chapter XXV |
Companies to Furnish Information or Statistics |
405 |
Power of Central Government to direct companies to furnish information or statistics |
Chapter XXVI |
Nidhis |
406 |
Power to modify Act in its application to Nidhis |
Chapter XXVII |
National Company Law Tribunal and Appellate Tribunal |
407 |
Definitions |
408 |
Constitution of National Company Law Tribunal |
409 |
Qualification of President and Members of Tribunal |
411 |
Qualifications of chairperson and Members of Appellate Tribunal |
412 |
Selection of Members of Tribunal and Appellate Tribunal |
413 |
Term of office of President, chairperson and other Members |
414 |
Salary, allowances and other terms and conditions of service of Members |
415 |
Acting President and Chairperson of Tribunal or Appellate Tribunal |
416 |
Resignation of Members |
417 |
Removal of Members |
418 |
Staff of Tribunal and Appellate Tribunal |
419 |
Benches of Tribunal |
420 |
Orders of Tribunal |
421 |
Appeal from orders of Tribunal |
422 |
Expeditious disposal by Tribunal and Appellate Tribunal |
423 |
Appeal to Supreme |
424 |
Procedure before Tribunal and Appellate Tribunal |
426 |
Delegation of powers |
427 |
President, Members, officers, etc., to be public servants |
428 |
Protection of action taken in good faith |
429 |
Power to seek assistance of Chief Metropolitan Magistrate, etc |
430 |
Civil court not to have jurisdiction |
432 |
Right to legal representation |
433 |
Limitation |
434 |
Transfer of certain pending proceedings |
Chapter XXVIII |
Special Courts |
435 |
Establishment of Special Courts |
436 |
Offences triable by Special Courts |
437 |
Appeal and revision |
438 |
Application of Code to proceedings before Special Court |
439 |
Offences to be noncognizable |
440 |
Transitional provisions |
441 |
Compounding of certain offences |
442 |
Mediation and Conciliation Panel |
443 |
Power of Central Government to appoint company prosecutors |
444 |
Appeal against acquittal |
445 |
Compensation for accusation without reasonable cause |
446 |
Application of fines |
Chapter XXIX |
Miscellaneous |
447 |
Punishment for fraud |
448 |
Punishment for false statement |
449 |
Punishment for false evidence |
450 |
Punishment where no specific penalty or punishment is provided |
451 |
Punishment for wrongful withholding of property |
452 |
Punishment in case of repeated default |
453 |
Punishment for improper use of “Limited” or “Private Limited |
454 |
Adjudication of penalties |
455 |
Dormant company |
456 |
Protection of action taken in good faith |
457 |
Nondisclosure of information in certain cases |
458 |
Delegation by Central Governemnt of its powers and functions |
459 |
Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to pres |
460 |
Condonation of delay in certain cases |
461 |
Annual report by Central Government |
462 |
Power to exempt class or classes of companies from provisions of this Act |
463 |
Power of court to grant relief in certain cases |
464 |
Prohibition of association or partnership of persons exceeding certain number |
465 |
Repeal of certain enactments and savings |
466 |
Dissolution of Company Law Board and consequential provisions |
467 |
Power of Central Government to amend Schedules |
468 |
Powers of Central Government to make rules relating to winding up |
469 |
Power of Central Government to make rules |
470 |
Power to remove difficulties |