Consolidation and IndAS Application
1056 Points
Joined May 2010
Mr Ravi, following is the list -
List of sections coming into effect from 12/9/2013
2- Definitions – Certain parts
19 – Subsidiary Company not to hold shares in Holding Company
21- Authentication of documents, proceedings and contracts
22 – Execution of bills of exchange, etc.
23- Public offer and private placement. (Partly effective)
24- Power of Securities and Exchange Board to regulate issue and transfer of securities, etc.
25-Document containing offer of securities for sale to be deemed prospectus (Partly effective)
29 – Public offer of securities to be in dematerialised form.
30 – Advertisement of Prospectus
31- Shelf Prospectus
32- Red herring prospectus
33 – Issue of Application form for Securities (Partly effective)
34 – Criminal liability for misstatements in prospectus
35 – Civil liability for misstatements in prospectus (Partly effective)
36 -Punishment for fraudulently inducing persons to invest money.
37- Action by affected persons
38-Punishment for personation for acquisition, etc., of securities.
39- Allotment of securities by Company (Partly effective)
40-Securities to be dealt with in stock exchanges. (Partly effective)
44- Nature of shares or debentures.
45- Numbering of shares
49-Calls on shares of same class to be made on uniform basis.
50-Company to accept unpaid share capital, although not called up.
51- Payment of dividend in proportion to amount paid up
57-Punishment for personation of shareholder.
58-Refusal of registration and appeal against refusal.
59-Rectification of register of members.
60 – Publication of authorised, subscribed and paid-up capital.
65- Unlimited company to provide for reserve share capital on conversion into limited company.
69- Transfer of certain sums to capital redemption reserve account.
70 – Prohibition for buyback (Partly effective)
86- Punishment for contravention
91-Power to close register of members or debentureholders or other security holders.
100- Calling of EGM (Part)
102- Statement to be annexed to notice
103- Quorum for meetings
104- Chairman for meetings (Partly effective)
105- Proxies (Partly effective)
106- Restriction on voting rights.
107- Voting by show of hands
111- Circulation of members’ resolution.
112- Representation of President and Governor in meetings
113-Representation of corporations at meeting of companies and of creditors. (Partly effective)
114- Ordinary & Special resolutions
116- Resolutions passed at adjourned meeting
127-Punishment for failure to distribute dividends.
133-Central Government to prescribe accounting standards.
161-Appointment of additional director, alternate director and nominee director. (Partly effective)
162-Appointment of directors to be voted individually.
163-Option to adopt principle of proportional representation for appointment of directors.
176–Defects in appointment of directors not to invalidate actions taken.
180- Restrictions on powers of Board
181–Company to contribute to bona fide and charitable funds, etc.
182-Prohibitions and restrictions regarding political contributions.
183-Power of Board and other persons to make contributions to national defence fund, etc.
185- Loans to Directors, etc
192-Restriction on non-cash transactions involving directors.
194-Prohibition on forward dealings in securities of company by director or key managerial personnel.
195-Prohibition on insider trading of securities.
202-Compensation for loss of office of managing or whole-time director or manager.
379-Application of Act to foreign companies.
382-Display of name, etc., of foreign company.
383-Service on Foreign Company
386-Debentures, annual return, registration of charges, books of account and their inspection. (Partly effective)
394-Annual reports on Government companies.
405-Power of Central Government to direct companies to furnish information or statistics.
407 to 414 – NCLT – Constitution, etc
439- Offences to be non cognizable
443- Power of Central Government to appoint company prosecutors.
444- Appeal against acquittal
445-Compensation for accusation without reasonable cause.
446- Application of fines
447- Punishment for fraud
448- Punishment for false statement
449-Punishment for false evidence
450- Punishment where no specific penalty or punishment is provided.
451-Punishment in case of repeated default.
452-Punishment for wrongful withholding of property.
453-Punishment for improper use of “Limited” or “Private Limited”.
456-Protection of action taken in good faith.
457-Nondisclosure of information in certain cases.
458-Delegation by Central Governemnt of its powers and functions.
459-Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications.
460-Condonation of delay in certain cases.
461-Annual report by Central Government.
462-Power to exempt class or classes of companies from provisions of this Act.
463-Power of court to grant relief in certain cases.
467-Power of Central Government to amend Schedules.
468-Power of Central Government to amend Schedules.
469-Power of Central Government to make rules.
470- Power to remove difficulties.