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2014

Q 1. What is a One Person Company (OPC)?

Section 2(62) of the Companies Act, 2013 defines OPC to mean a Company which has only one person as a member.

Q 2. Could OPC be formed in the regime of the Companies Act, 1956?

OPC is a new concept introduced in the Companies Act, 2013. Therefore, OPC could not be formed under the earlier Acts.

2014

Gold Economy

If for one year there are no gold imports, it will change the current account deficit story of the country. Indians think they are buying gold in rupees. Actually they are buying gold in dollars.
- Finance Minister P. Chidambaram.

  • The Finance Minister of any country aims to have positive current account balance.
  • However, in India Gold has remained one of the chief contributors to current account deficit.
  • India imports three things mainly
    • Crude Oil
    • Cooking Oil
    • Gold

2014
  • Effective 1st April 2014, the Government of India has repealed the Companies Act, 1956 with the new Companies Act, 2013.
  • We have tried to make a brief overview of some of the important provision applicable to Private Limited Companies in India.

2014
  • Companies Act, 2013 has brought massive changes for private companies as barring a very few, all the exemptions which were available to private companies under the Companies Act, 1956 have been withdrawn in the Companies Act, 2013.
  • In this article, we attempt to throw light on the impact of Companies Act, 2013 on private companies by means of comparison of the significant provisions relating to Private Companies under the Companies Act, 1956 and Companies Act, 2013.

Comparison of provisions relating to PRIVATE COMPANIES under CA, 1956 and CA, 2013

2014
  • As you are aware that provisions of Corporate Social Responsibility as per Companies Act, 2013 has been made mandatory.
  • It is also to be noted that Sec. 135 of the Companies Act, 2013, Schedule VII to the Act and Companies (Corporate Social Responsibility Policy) Rules, 2014 shall come into force w.e.f. 01.04.2014.
2014
 

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