Companies Act

The Companies Act, 2013 is the primary legislation that governs the incorporation, regulation, and dissolution of companies in India. Enforced by the Ministry of Corporate Affairs (MCA), the Act provides a comprehensive legal framework to promote transparency, accountability, and better corporate governance.

https://www.incometaxindia.gov.in/pages/acts/companies-act-2013.aspx

What is Companies Act?

Objectives of the Companies Act, 2013

The Act aims to:

Improve corporate governance and accountability
Protect the interests of investors, shareholders, and stakeholders
Facilitate ease of doing business
Introduce transparency in corporate operations
Regulate the formation, management, and closure of companies

Classification of Companies

Private Company Public Company One Person Company (OPC) Section 8 Company (Non-profit organizations)

Company Incorporation & Compliance

Companies must register with the Registrar of Companies (ROC).

Corporate Governance

Independent directors, audit committees, and vigilance mechanisms are mandatory for certain companies.

Audit and Financial Disclosures

Companies must maintain proper books of accounts and file audited financial statements annually.