What are the flaws in companies act, 2013?

Co Act 2013 497 views 1 replies
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B.Com
32 Points Joined January 2014

HI,

Please post your views or comments regarding the flaws or mistakes in the Companies Act, 2013. Lets have a discussion. 

Thank you.

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On 26 August 2016 at 13:57 Report
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Registered independent director Past Ch
8229 Points Joined March 2007

Errors in Companies Act 2013 not rectified in Companies (Amendment) Bill 2016:

It is surprising that drafting errors  in Companies Act 2013 have not been rectified in Companies (Amendment) Act 2015 and now again  ignored in Companies (Amendment) Bill 2016 also:


1) Section 2(2): There is no reference to any 'companies or class of companies' in Section 133 as wrongly mentioned here.

2) Section 2(68):  In first Proviso, the word ‘clause’ should be read as ‘sub-clause’.

3) Section 4(1)(f): The words 'or his incapacity to contract' should be added after the word 'subscriber' - [See Proviso to Sec.3(1)]....
 

4) Section 55(2)(d):  In the proviso, the word ‘also’ should have been deleted.

5) Section 70(2):  The word ‘section’ should have been deleted.

6) Section 134(3)(d): 'sub-section (6)' should be replaced by 'sub-section (7)'.

7) Section 134(5)(e): The word 'and' should be added at the end of the clause.

8) Section 137: In the heading of the Section, the words 'financial statement' should be replaced by 'financial statements'.

9) Section 233(12):  The word ‘in’ should be added before ‘clause (b)’.

10) Section 243(1): The word 'set' should be replaced by 'sets'.

11) Section 245(1): 'sub-section (2)' should be replaced by 'sub-section (3)'.

12) Section 343(3): The words 'of being heard' should be added after 'opportunity'.

13) Section 465: In third proviso to sub-section (1), the word 'to' should be added after 'referred'.

14) Schedule-I, The word 'of' should be added after 'A.B.' at following places:

a) Table B, Clause 7th
b) Table D, Clause 6th
c) Table E, Clause 7th

15) Schedule-VI: The heading 'Infrastructure Projects/ Infrastructural Facilities' should be provided.

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On 29 August 2016 at 13:09


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