ICAI has released the revised/ second edition (July 2019) of Frequently Asked Questions (FAQs) on the provisions of Companies Act, 2013 (a set of 174 FAQs), for help and guidance of stakeholders/ members to facilitate the understanding and interpretation thereof, as under:
ICAI has published the revised/ second edition of FAQs on Companies Act 2013 to keep the members abreast of the frequent developments and also to develop their understanding about the intricacies of various new provisions thereof, like passage of Companies (Amendment) Act, 2017, amendments in Rules, Notifications and Clarifications etc. All these developments necessitated the revision of the Publication with the latest updates and knowledge.
The Companies Act, 2013 was enacted to improve Corporate Governance and better transparency in the corporate sector which is imperative to infuse confidence amongst investors in Indian market and abroad and to further strengthen regulations for the companies, keeping in view the changing economic environment as well as the growth of our economy. The Ministry of Corporate Affairs has been taking proactive initiatives by making the existing law simple and comprehensive fostering a positive environment for investment and growth.
There are 470 sections in the Companies Act, 2013 but various provisions of the Act were notified in the last two and a half year in a phased manner.
The publication has been designed in a question and answer format to assist our members and fellow professionals in mitigating various queries relating to the Companies Act, 2013.