CONSULTEASE.COM

Sign In

Browse By

Trial for an Ease of Business as per The Companies (Amendment) Act, 2017

Trial for an Ease of Business as per The Companies (Amendment) Act, 2017

CS Bhavesh Kumar Rawal and CS Rashmi Ramesh Butada has compiled all The Companies (Amendment) Act, 2017 for making the business easy. They have compiled all The Companies (Amendment) Act, 2017 required for the business to operate its daily work.

Objective of Companies (Amendment) Act, 2017
  • Facilitate Ease of Doing Business
  • Simplification of Compliances
  • Harmonisation with Accounting Standards, SEBI and RBI Act and other Regulations
  • Rectifies Inconsistencies in the CA 2013
  • Strengthen Corporate Governance
  • Strict action against defaulting companies.

 

Journey of Companies (Amendment) Act 2017
  • January 03, 2018: President Assent
  • December 19, 2017: Rajyasabha Passed
  • July 27, 2017: Lok Sabha Passed
  • March 16, 2016: Introduced in Lok Sabha
  • 98 Sections are Amended
  • Amendment Dates: January 26 2018, February 09 2018, May 07 2018 and June 13 2018.
  • Total 98 Sections are amended:–
  • January 26, 2018:
    • Section 1: Different dates for notification of Sections of CAA 2017
    • Section 4: Duration for Reservation of Name reduced from 60 to 20 days.
  • February 9, 2018:- 43 Sections are enforced
  • May 7, 2018:- 28 Sections are enforced
  • June 13, 2018:- 5 Sections are Enforced

 

Amendments under CAA 2017
  • Sections Amended : 82
  • Sections Deleted : 3 ( Section 93, 194 and 195)
  • Change in promoters holdings, forward dealing and insider trading
  • Sections Inserted : 3 (3A, 446A and 446B)
  • Members liability in certain cases, Factors determining level of punishment
  • Sections Substituted : 5 (Section 42, 90, 185, 406 and 435)
  • Private Placement, register of Significant Beneficial Owner, Loans to Directors, Nidhi Company and Special Court
Download the full PDF:

Companies Act-2017 (Amendments) by  B Rawal & Co..pdf - Adobe Acrobat Reader DC 2018-07-02 11.20.55

Complete list of Notified Sections of Companies (Amendment) Act, 2017 till date:-

Sr. No.

Companies (Amendment) Act, 2017

Companies Act, 2013

Heading

Effective Date

1

Section 2

Section 2

Definitions

09-02-2018 and

07-05-2018

2

Section 3A

New Insert of Section 3A

Members Severally liable in certain cases

09-02-2018

3

Section 4

Section4

Memorandum

26-01-2018

4

Section 5

Section 7

Incorporation of Company

Not yet enforced

5

Section 6

Section 12

Registered office of Company

Not yet enforced

6

Section 7

Section 21

Authentication of documents, proceedings and contracts

09-02-2018

7

Section 8

Section 26

Matters to be stated in Prospectus

07-05-2018

8

Section 9

Section 35

Civil liability for mis-statements in prospectus

09-02-2018

9

Section 10

Section 42

Issue of Shares on Private Placement Basis

Not yet enforced

10

Section 11

Section 47

Voting Rights

09-02-2018

11

Section 12

Section 53

Prohibition on issue of shares at discount

09-02-2018

12

Section 13

Section 54

Issue of Sweat equity shares

07-05-2018

13

Section 14

Section 62

Further Issue of Share Capital

09-02-2018

14

Section 15

Section 73

Prohibition on acceptance of deposits from public

Not yet enforced

15

Section 16

Section 74

Repayment of Deposits, etc., Accepted Before Commencement of this Act

Not yet enforced

16

Section 17

Section 76A

 Punishment for Contravention of Section 73 or Section 76.

09-02-2018

17

Section 18

Section 77

Duty to Register Charges, etc.

07-05-2018

18

Section 19

Section 78

Application for Registration of Charge

07-05-2018

19

Section 20

Section 82

Company to report Satisfaction of Charge

Not yet enforced

20

Clauses (i) and (ii) of Section 21

Section 89 (6) and (7)

Declaration in Respect of Beneficial Interest in any Share

07-05-2018

21

Section 22

Section 90

Register of significant beneficial owners in a company

09-02-2018

22

Clauses (iii) and (iv) of Section 23

Section 92 (4) and (5)

Annual Report

07-05-2018

23

Section 24

Section 93

Return to be Filed with Registrar in Case Promoters’ Stake Changes

Not yet enforced

24

Section 25

Section 94

Place of keeping and Inspection of Registers, Returns, etc.

Not yet enforced

25

Section 26

Section 96

Annual General Meeting

Not yet enforced

26

Section 27

Section 100

Calling of Extraordinary General Meeting

09-02-2018

27

Section 28

Section 101

Notice of Meeting

09-02-2018

28

Section 29

Section 110

Postal Ballot

09-02-2018

29

Section 30

Section 117

Resolutions and Agreements to be Filed

07-05-2018

30

Section 31

Section 121

Report on Annual General Meeting

07-05-2018

31

Section 32

Section 123

Declaration of Dividend

09-02-2018

32

Section 33

Section 129

Financial Statements

07-05-2018

33

Section 34

Section 130

Re-opening of accounts on court’s or Tribunal’s order

09-02-2018

34

Section 35

Section 132

Constitution of National Financial Reporting Authority

09-02-2018

35

Section 36

Section 134

Financial Statement, Board’s Report, etc.

Not yet enforced

36

Section 37

Section 135

Corporate Social Responsibility

Not yet enforced

37

Section 38

Section 136

Right of Member to Copies of Audited Financial Statement

09-02-2018

38

Section 39

Section 137

Copy of Financial Statement to be Filed with Registrar

07-05-2018

39

Section 40

Section 139

Appointment of Auditors

07-05-2018

40

Section 41

Section 140

Removal, Resignation of Auditor and Giving of Special Notice

09-02-2018

41

Section 42

Section 141

Eligibility, Qualifications and Disqualifications of Auditors

09-02-2018

42

Section 43

Section 143

Powers and Duties of Auditors and Auditing Standards

09-02-2018

43

Section 44

Section 147

Punishment for Contravention

09-02-2018

44

Section 45

Section 148

Central Government to Specify Audit of Items of Cost in Respect of Certain Companies

09-02-2018

45

Section 46

Section 149

Company to have Board of Directors

07-05-2018

46

Section 47

Section 152

Appointment of Directors

09-02-2018

47

Section 48

Section 153

Application for Allotment of Director Identification Number

 

      09-02-2018

48

Section 49

Section 157

Company to Inform Director Identification Number to Registrar

07-05-2018

49

Section 50

Section 160

Right of Persons Other than Retiring Directors to Stand for Directorship

09-02-2018

50

Section 51

Section 161

Appointment of Additional director, Alternate director and Nominee director

09-02-2018

51

Section 52

Section 164

Disqualifications for Appointment of Director

07-05-2018

52

Section 53

Section 165

Number of Directorships

09-02-2018

53

Section 54

Section 167

Vacation of Office of Director

07-05-2018

54

Section 55

Section 168

Resignation of Director

07-05-2018

55

Section 56

Section 173

Meetings of Board

07-05-2018

56

Section 57

Section 177

Audit Committee

07-05-2018

57

Section 58

Section 178

Nomination and Remuneration Committee and Stakeholders Relationship Committee

07-05-2018

58

Section 59

Section 180

Restrictions on powers of Board

09-02-2018

59

Section 60

Section 184

Disclosure of Interest by Director

09-02-2018

60

Section 61

Section 185

Loan to directors, etc.

07-05-2018

61

Section 62

Section 186

Loan and Investment by Company

07-05-2018

62

Section 63

Section 188

Related party Transactions

09-02-2018

63

Section 64

Section 194

Prohibition on Forward Dealings in Securities of Company by Director or Key Managerial person

09-02-2018

64

Section 65

Section 195

Prohibition on Insider Trading of Securities

09-02-2018

65

Section 66

Section 196

Appointment of Managing Director, Whole-time Director or Manager

Not yet enforced

66

Section 67

Section 197

Overall Maximum Managerial Remuneration and Managerial Remuneration in Case of Absence or Inadequacy of profits

Not yet enforced

67

Section 68

Section 198

Calculation of profits

Not yet enforced

68

Section 69

Section 200

Central Government or Company to Fix Limit with Regard to Remuneration

Not yet enforced

69

Section 70

Section 201

Forms of, and Procedure in relation to, certain applications

Not yet enforced

70

Section 71

Section 216

Investigation of Ownership of Company

Not yet enforced

71

Section 72

Section 223

Inspector’s Report

09-02-2018

72

Section 73

Section 236

Purchase of minority shareholding

09-02-2018

73

Section 74

Section 247

Valuation by Registered Valuers

09-02-2018

74

Section 75

Section 366

Companies Capable of Being Registered

Not yet enforced

75

Section 76

Section 374

Obligations of Companies Registering Under this Part

Not yet enforced

76

Section 77

Section 379

Application of Act to foreign Companies

09-02-2018

77

Section 78

Section 384

Debentures, Annual Return, Registration of Charges, Books of Account and Their Inspection

09-02-2018

78

Section 79

Section 391

Application of Sections 34 to 36 and Chapter XX

09-02-2018

79

First Proviso to clause (i) of Section 80 and clause (ii) of Section 80

Section 403

Fee for filing, etc.

07-05-2018

80

Section 81

Section 406

Provisions relating to Nidhis and its application, etc.

Not yet enforced

81

Section 82

Section 409

Qualification of President and Members of Tribunal

09-02-2018

82

Section 83

Section 410

Constitution of Appellate Tribunal

07-05-2018

83

Section 84

Section 411

Qualifications of Chairperson and Members of Appellate Tribunal

09-02-2018

84

Section 85

Section 412

Selection of Members of Tribunal and Appellate Tribunal

09-02-2018

85

Section 86

Section 435

Establishment of Special Courts

07-05-2018

86

Section 87

Section 438

Application of Code to Proceedings Before Special Court

07-05-2018

87

Section 88

Section 439

Offences to be Non-cognizable

07-05-2018

88

Section 89

Section 440

Transitional provisions

07-05-2018

89

Section 90

Section 441

Compounding of certain offences

09-02-2018

90

Section 91

New Insert of Section 446A

Factors for determining level of punishment

09-02-2018

91

Section 92

Section 447

Punishment for fraud

09-02-2018

92

Section 93

Section 458

Delegation by Central Government of its powers and functions

09-02-2018

Stay informed...

Recieve the most important tips and updates

Absolutely Free! Unsubscribe anytime.

We adhere 100% to the no-spam policy.

Profile photo of Bhavesh Rawal Bhavesh Rawal

See Profile
Opinions & information presented by ConsultEase Members are their own.