I received an interesting query on Quora earlier this month. Another day, another reader asked on WhatsApp why Registrar of Companies or Serious Fraud Investigation Office is not taking action against “PMC Bank Limited”. The reader was ignorant of the word “co-operative” in the name of scam-hit banks. Last year, one member/shareholder of the State Bank of India queried about compliance by the bank under the Companies Act, 2013.
UPDATE: on 30th August 2013: Companies Bill 2012 became the Companies Act, 2013 (Act 18 of 2013).
This is my first post after passing of the Companies Bill, 2012 by Rajya Sabha on 8th August 2013. Lok Sabha have already passed this Bill, earlier on 18th December 2012. The Bill is just one signature away from being an Act or two-three step away from come to be in forced by Notification.
Here, I try to study briefly some definitions related to companies under present Bill [Now the Companies Act, 2013]. Readers may please add their inputs in comment section of this post.
Posted in Chapter I - CA2013, Companies Act 2013, Governance and Responsibility
Tagged Associate Company, Banking Company, Body Corporate, Companies Bill 2012, Companies with Special Provisions, Company, Company incorporated outside India, Company Limited by Guarantee, Company Limited by Shares, CorpLaw, Corporate Law, Corporation, Dormant Company, Financial Institution, Government Company, Holding Company, Joint Venture Company, Listed Company, Ministry of corporate affairs, Nidhi Company, Non - Profit Company, One Person Company, Private Company, Producer Company, Public Company, Small Company, Subsidiary Company