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NCA- A scientific study rather than just law

Nisha Sharma 
on 27 October 2014

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Everything in nature goes by law, and not by luck.  — Ralph Waldo Emerson

Since 12th September, 2013 each and every professional have pulled their socks up to get down into the ocean of NCA and start analyzing the new world of the new law applicable on the companies. To me NCA, 2013 is a scientific study with deep analysis and different views rather than just a law. Few days back I was reading section 180 on restriction on the powers of board and was under the process of adopting the same and applying on my company for giving power to the board vide special resolution when suddenly yesterday I jumped from my seat after knowing that I can defend myself from this section and from undergoing the procedure of holding an EGM. The same happened to me regarding section 188 and many other sections.

But the real glory of science is that we can find a way of thinking such that the law is evident. — Richard P. Feynman

The same applied to NCA.

The glory of NCA is that we can find a way of thinking such that the law is evident.

According to me for the young professionals NCA seems to be an excellent opportunity to show their worth and strong analytical power as the whole approach is totally analytical and is based on how you can apply your professional mind and tactics to save yourself from one section or other or how tactfully you are going to apply your mind in complying with a particular section or the whole procedure. The deeper we go inside this ocean the best view of this vast law comes in front of us. And hence we find ourselves cherishing the beauty of finding a new world inside.  

It seems to be as simple at some point as it is seems to be hard at some other. Every section connects you with some other and to add on with taking into due consideration of all the new notifications, circulars and modifications seems to be challenge but alluring and interesting. You find yourself analyzing a particular situation like a scientist rather than just CA/CS/CWA. The moment you read a section, you want to jump towards the rules and the moment you jump towards the rules you like to analyze the whole section. The moment you are able to analyze the whole section you jump towards analyzing and reading other sections and rules thereto. And hence you are able to form a chain of sections and make your strong opinion individually.

The best part I liked about New Companies Act, 2013 is, it gave an opportunity to each and every professional especially the young ones to make their own opinion and put forth their point of views individually helping them achieving an individual approach and broader outlook towards the area. Moreover we are thankful that the experienced professionals through their broader vision are able to not just analyze the law but also given their deeper and detailed opinion on the same helping us to get the clarity over it.

NCA is a reward giving challenge and a topic to view from different directions giving us relief at one point and some tension on the other side. 

Let us bring more thoughts to prepare our minds to face the challenges we encounter in our professional journey and embrace all changes with gladness.

ACS Nisha Sharma


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