Companies Act 1956

Companies Act 1956
Parliament of India
  • An Act to consolidate and amend the law relating to companies and certain other associations
CitationAct No. 1 of 1956
Territorial extentIndia
Enacted byParliament of India
Enacted18 January 1956
Commenced1 April 1956 and amendment 2015
Repeals
Some provisions of the Act are still in force (as per Ministry of Corporate Affairs Website)
Status: Repealed

The Companies Act 1956 was an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.[1] It was repealed and replaced by the Companies Act 2013.

History

The Act was 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 Registrar of Companies (ROC) handles incorporation of new companies and the administration of running companies.

Since its commencement, it was amended many times, in which amendment of 1988, 1990, 1996, 2000 , 2011 & 2013 were notable.[2]

Types of companies

There are 11 types of registrations for a company under the Companies Act 1956.[3]

  • Private company
  • Public company
  • Companies limited by shares
  • Companies limited by guarantee
  • Unlimited company
  • Section 25 company[4]
  • Government companies
  • Foreign companies
  • profitable or non profitable companies

See also

References

  1. ^ "Business Portal of India : Starting a Business : Regulatory Requirements : Companies Act". National Portal of India. Government of India. Archived from the original on 20 June 2008. Retrieved 19 February 2011.
  2. ^ "Amended version 2015" (PDF).
  3. ^ "TYPES OF COMPANIES - Company Laws Ready Reckoner - Companies Act, 1956 - Companies Law". www.taxmanagementindia.com. Retrieved 4 August 2022.
  4. ^ Singh, Sandeep (4 June 2022). "Section 25 company: A not-for-profit company with defined objectives". The Indian Express. Retrieved 4 August 2022.