companies act, 1956

Companies Act, 1956 IMI . The Act was administered by the Government of India through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc. Public financial institutions 5. Power of company to purchase its own … Companies Act 1956 detailed ppt The Companies Act 1956 was an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.. Definitions of "company", "existing company", "private company" and "public company" 4. 77A.. Power of company to purchase its own securities 1 [77A. Read Online Circular Resolution Companies Act 1956 Circular Resolution Companies Act 1956|stsongstdlight font size 14 format Getting the books circular resolution companies act 1956 now is not type of challenging means. [18th January, 1956] An Act to consolidate and amend … Companies Act 1956 - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. The Companies Act 1956 was an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.[1]. Any changes that have already been made by the team appear in the content and are referenced with annotations. Definitions 2A. Updated and amended bare acts in PDF format of Companies Act 1956 and Companies Act 2013. There are outstanding changes not yet made by the legislation.gov.uk editorial team to Companies Act 1985. This an Act to consolidate and amend the law relating to companies. APPENDIX IV PART IXA OF COMPANIES ACT, 1956 CHAPTER I. (1) Subject to such rules as may be prescribed in this behalf, the Central Government may, by notification in the Official Gazette, declare that, as from such date as may be specified in the notification, the provisions of sub-section (2) shall apply to all companies, whether incorporated … It will agreed squander the time. Companies Act (with its variations) is a stock short title used for legislation in Botswana, Hong Kong, India, Kenya, Malaysia, New Zealand, South Africa and the United Kingdom in relation to company law. Since its commencement, it was amended many times, in which amendment of 1988, 1990, 1996, 2000 and 2011 were notable. Please update this article to reflect recent events or newly available information. Read about the highlights of the companies act 2013 and download Indian Companies Act 2013 notes PDF for UPSC 2021. Definitions of" Company"," Existing Company"," Private Company" and" Public Company". Conclusiveness of certificate of incorporation, Provision as to companies limited by guarantee, Effect of alteration in memorandum or articles, Copies of memorandum and articles, etc., to be given to members, Alteration of memorandum or articles, etc., to be noted in every copy, Consequences of default in complying with conditions constituting a company a private company, Private company to become public company in certain cases, Prospectus or statement in lieu of prospectus to be filed by private company on ceasing to be private company, Members severally liable for debts where business carried on with fewer than seven, or in the case of a private company, two members, Investments of company to be held in its own name, Power for company to have official seal for use outside India, Service of documents on members by company, Authentication of documents and proceedings, Powers of Securities and Exchange Board of India, Matters to be stated and reports to be set out in prospectus, Expert to be unconnected with formation or management of company, Expert's consent to issue of prospectus containing statement by him, Deposits not to be invited without issuing an advertisement, Default in acceptance or refund of deposits to be cognizable, Provisions relating to prospectus to apply to advertisement, Terms of contract mentioned in prospectus or statement in lieu of prospectus, not to be varied, Civil liability for mis-statements in prospectus, Criminal liability for misstatements in prospectus, Document containing offer of shares or debentures for sale to be deemed prospectus, Interpretation of provisions relating to prospectuses. L a w y e r S e r v i c e s . More than half a century after the enactment of Companies Act in 1956, the new legislation, the Companies Act, 2013 was passed at the end of August 2013 based on the recommendations of the J. J. Irani committee.The new Act brought in several much-needed changes in India’s corporate governance and fulfilled the inadequacies and shortcomings of the 1956 Act. This site is your gateway to all services, guidance, and other corporate affairs related information. 1 OF 1956 [ 18th January, 1956] An Act to consolidate and amend the law relating to companies and certain other associations. (3) Nothing in this Act shall affect the Table in any repealed written law corresponding to Table A in the Fourth Schedule in force immediately before the date of commencement of section 181 of the Companies (Amendment) Act 2014 or any part thereof (either as originally enacted or as altered in pursuance of any statutory power) or the corresponding Table in any former written … Clause 203 of the amendments in The Indian Companies Act of 1956: This proposed amendment in The Companies Act is for the separation of the office of the Chairman and The Managing Director modified to allow, in certain cases, a class of companies having multiple businesses and separate divisional MDs to appoint the same person as chairman as … The Companies Act, 2013 has been notified in the Official Gazette on 30th August, 2013 but the provisions of this Act shall come into force on such date(s) as the Central Government may … Companies Act, 1956 Competition Act, 2002 Consumer Protection Act Securities Exchange Board of India Foreign Exchange. persons, Disclaimer of onerous property in case of a company which is being wound up, Avoidance of transfers, etc., after commencement of winding up, Avoidance of certain attachments, executions, etc., in winding up by or subject to supervision of Court, Offences by officers of companies in liquidation, Liability for fraudulent conduct of business. Employees' Securities and Provident Funds, Employees' securities to be deposited in post office savings bank or scheduled Bank, Provisions applicable to provident funds of employees, Right of employee to see bank's receipt for moneys or securities referred to in section 417 or 418, Penalty for contravention of sections 417, 418 and 419, Invoices, etc., to refer to receiver where there is one, Penalty for non-compliance with sections 421 and 422, Application of sections 421 to 423 to receivers and managers appointed by Court and managers appointed in pursuance of an instrument, Liability as contributories of present and past members, Obligations of directors and managers whose liability is unlimited, Contributories in case of death of member, Contributories in case of insolvency of member, Contributories in case of winding up of a body corporate which is a member, Circumstances in which company may be wound up by Court, Company when deemed unable to pay its debts, Transfer of winding up proceedings to District Court, Withdrawal and transfer of winding up from one District Court to another, Power of High Court to retain winding up proceedings in District Court, Jurisdiction of High Court under sections 435, 436 and 437 to be exercised at any time and at any stage, Provisions as to applications for winding up, Right to present winding up petition where company is being wound up voluntarily or subject to Courts supervision, Power of Court to stay or restrain proceedings against company, Order for winding up to be communicated to Official Liquidator and Registrar, Copy of winding up order to be filed with Registrar, Appointment and powers of provisional liquidator, Receiver not to be appointed of assets with liquidator, Statement of affairs to be made to Official Liquidator, Exclusion of certain time in computing periods of limitation, Provision for legal assistance to liquidator, Exercise and control of liquidator's powers, Control of Central Government over liquidators, Appointment and composition of committee of inspection, Constitution and proceedings of committee of inspection, Settlement of list of contributories and application of assets, Payment of debts due by contributory and extent of set-off, Payment into bank of moneys due to company, Moneys and securities paid into Bank to be subject to order of Court, Order on contributory to be conclusive evidence, Power to exclude creditors not proving in time, Power to summon persons suspected of having property of company, etc, Power to order public examination of promoters, directors, etc, Order made in any Court to be enforced by other Courts, Circumstances in which company may be wound up voluntarily, Publication of resolution to wind up voluntarily, Effect of voluntary winding up on status of company, Declaration of solvency in case of proposal to wind up voluntarily, Provisions applicable to a members' voluntary winding up, Power of company to appoint and fix remuneration of liquidators, Board's powers to cease on appointment of a liquidator, Power to fill vacancy in office of liquidator, Notice of appointment of liquidator to be given to Registrar, Power of liquidator to accept shares, etc., as consideration for sale of property of company, Duty of liquidator to call creditors' meeting in case of insolvency, Duty of liquidator to call general meeting at the end of each year, Alternative provisions as to annual and final meetings in case of insolvency, Provisions applicable to a creditor's voluntary winding up, Notice of resolutions passed by creditors' meeting to be given to Registrar, Board's powers to cease on appointment of liquidator, Application of section 494 to a creditors' voluntary winding up, Duty of liquidator to call meetings of company and of creditors at end of each year, Provisions applicable to every voluntary winding up, Application of section 454 to voluntary winding up, Powers and duties of liquidator in voluntary winding up, Body corporate not to be appointed as liquidator, Corrupt inducement affecting appointment as liquidator, Power of Court to appoint and remove liquidator in voluntary winding up, Arrangement when binding on company and creditors, Power to apply to Court to have questions determined or powers exercised, Application of liquidator to Court for public examination of promoters, directors, etc, Power to order winding up subject to supervision, Effect of petition for winding up subject to supervision, Power of Court to appoint or remove liquidators, Powers and obligations of liquidator appointed by court, Appointment in certain cases of voluntary liquidators to office of liquidators, Debts of all descriptions to be admitted to proof, Application of insolvency rules in winding up of insolvent companies, Transfers for benefit of all creditors to be void, Liabilities and rights of certain fraudulently preferred Power of Court to assess damages against delinquent directors, etc. Liability under sections 542 and 543 to extend to partners or directors in firm or company, Prosecution of delinquent officers and members of the company, Liquidator to exercise certain powers subject to sanction, Notification that a company is in liquidation, Books and papers of company to be evidence, Inspection of books and papers by creditors and contributories, Official Liquidator to make payments into the public account of India, Voluntary liquidator to make payments into scheduled Bank, Liquidator not to pay moneys into private banking account, Unpaid idends and undistributed assets to be paid into the Companies Liquidation Account, Enforcement of duty of liquidator to make returns, etc, Meetings to ascertain wishes of creditors or contributories, Court or person before whom affidavit may be sworn, Power of Court to declare dissolution of company void, Power of Registrar to strike defunct company off register, Application of Act to companies formed and registered under previous companies laws, Application of Act to companies registered but not formed under previous companies laws, Application of Act to unlimited companies registered under previous companies laws, Mode of transferring shares in the case of companies registered under Acts 19 of 1857 and 7 of 1860, Requirements for registration of joint-stock companies, Requirements for registration of companies not being joint-stock companies, Authentication of statements of existing companies, Power of Registrar to require evidence as to nature of company, Notice to customers on registration of banking company with limited liability, Change of name for purposes of registration, Addition ofLimited orPrivate Limited to name, Certificate of registration of existing companies, Continuation of pending legal proceedings, Power to substitute memorandum and articles for deed of settlement, Power of Court to stay or restrain proceedings, Power to wind up foreign companies, although dissolved, Contributories in winding up of unregistered company, Directions as to property in certain cases, Saving and construction of enactments conferring power to wind up partnership, association or company in certain cases, Application of sections 592 to 602 to foreign companies, Documents, etc., to be delivered to Registrar by foreign companies carrying on business in India, Return to be delivered to Registrar by foreign company where documents, etc., altered, Obligation to state name of foreign company, whether limited, and country where incorporated, Company's failure to comply with Part not to affect its liability under contracts, etc, Registration of charges, appointment of receiver and books of account, Fees for registration of documents under Part, Interpretation of foregoing sections of Part, Dating of prospectus and particulars to be contained therein, Provisions as to expert's consent and allotment, Penalty for contravention of sections 603, 604 and 605, Civil liability for mis-statements in prospectu, Interpretation of provisions as to prospectuses, Inspection, production and evidence of documents kept by Registrar, Admissibility of micro films, facsimile copies of documents, computer printouts and documents on computer media as documents and as evidence, Fees, etc., paid to Registrar and other officers to be accounted for to Central Government, Power of Central Government to reduce fees, charges, etc, Enforcement of duty of company to make returns, etc., to Registrar, Power of Court trying offences under the Act to direct the filing of documents with Registrar, Power of Central Government to direct companies to furnish information or statistics, Application of Act to insurance, banking, electricity supply and other companies governed by special Acts, Application of sections 224 to 233 to Government companies, Provisions of section 619 to apply to certain companies, Power to modify Act in relation to Government companies, Power to modify Act in its application to Nidhis, etc, Special provisions as to companies in Goa, Daman and Diu, Special provisions as to companies in Jammu and Kashmir, Offences against Act to be cognizable only on complaint by Registrar, shareholder or Government, Certain offences triable summarily in Presidency towns, Power of Central Government to appoint company prosecutors, Payment of compensation in cases of frivolous or vexatious prosecution, Production and inspection of books where offence suspected, Penalty where no specific penalty is provided elsewhere in the Act, Penalty for wrongful withholding of property, Penalty for improper use of wordsLimited andPrivate Limited, Power to require limited company to give security for costs, Power of Court to grant relief in certain cases, Enforcement of orders of Company Law Board, Enforcement of orders of one Court by other Courts, Non-disclosure of information in certain cases, Protection of employees during investigation by inspector or pendency of proceeding before Court in certain cases, Reduction of fees, charges, etc., payable to company, Delegation by Central Government of its powers and functions under Act, Powers of Central Government or Company Law Board to accord approval, etc., subject to conditions and to prescribe fees on applications, Power of Central Government to fix a limit with regard to remuneration, Validation of registration of firms as members of charitable and other companies, of time required in obtaining copies of orders of Court or the Company Law Board, Forms of, and procedure in relation to certain applications, Power of Central Government to make rules, Saving of orders, rules, etc., in force at commencement of Act, Saving of operation of section 138 of Act 7 of 1913, Saving of pending proceedings for winding up, Saving of prosecutions instituted by liquidator or Court under section 237 of Act 7 of 1913, Construction of references to former enactments in documents, Construction of references to extraordinary resolution in articles etc, Appointment under previous companies laws to have effect as if made under Act, Registers under previous company’s laws to be deemed to be part of registers under Act, Funds and accounts under Act to be in continuation of funds and accounts under previous companies laws, Saving of incorporation under repealed Acts, Saving of certain Tables under previous companies laws, Section 6 of the General Clauses Act, 1897 (10 of 1897) to apply in addition to sections 645 to 657 of Act, Regulations for Management of a Company Limited by shares, Memorandum of Association of a Company Limited by shares, Memorandum and Articles of Association of a Company Limited by Guarantee and not having a share Capital, Memorandum and Articles of Association of a Company Limited by Guarantee and having a share Capital, Memorandum and Articles of Association of an Unlimited Company, Form of Statement to be Published by Limited Banking Companies, Insurance Companies and Deposit, provident or Benefit Societies, Matters to be specified in prospectus and reports to be set out therein, Provisions applying to Parts I and II of the schedule, Form of Statement in lieu of Prospectus to be delivered to Register by a Company which does not issue a Prospectus or which does not go to allotment on a prospectus issued, and reports to be set out therein, Form of Statement and particulars to be contained therein, Provisions applying to Parts I and II of this schedule, Form of Statement in lieu of prospectus to be delivered to Registrar by a private company on becoming a public company and reports to be set out therein, Form of statement and particulars to be contained therein, Contents and form of Annual Return of a company having a share capital, Requirements as to Profit and Loss Account, Balance sheet Abstract and Company's General Business Profile, [Redundant after abolition of the system of managing agents, secretaries and treasures by Act 17 of 1969, w.e.f. Central Government Act Section 3 in The Companies Act, 1956 3. 1 OF 1956] PART I : PRELIMINARY Sections 1. You could not without help going taking into account book growth or library or borrowing from your connections to way in them. An Act to consolidate and amend the law relating to companies and certain other associations. The NCLT provides complete coverage of the Companies Act 2013, Companies Act 1956 and related rules, notifications, circulars, orders, forms etc. L a w y e r S e r v i c e s . Users can access links for getting complete details on the acts. Companies Act 2013 Vs Companies Act 1956 The Companies Act, 2013 has been passed by Lok Sabha as well as Rajya Sabha and the President has given his consent to the same in August 2013. Penalty for fraudulently inducing persons to invest money, Personation for acquisition, etc., of shares, Initial offer of securities to be in dematerialized form in certain cases Allotment, Prohibition of allotment unless minimum subscription received, Prohibition of allotment in certain cases unless statement in lieu of prospectus delivered to Registrar, Applications for, and allotment of, shares and debentures, Allotment of shares and debentures to be dealt in on stock exchange, Manner of reckoning fifth, eighth and tenth days in sections 72 and 73, Power to pay certain commissions and prohibition of payment of all other commissions, discounts, etc, Restrictions on purchase by company, or loans by company for purchase, of its own or its holding company's shares, Power of company to purchase its own securities, Transfer of certain sums to capital redemption reserve account, Prohibition for buy-back in certain circumstances, Application of premiums received on issue of shares, Power to issue redeemable preference shares, Redemption of irredeemable preference shares, etc, New issues of share capital to be only of two kinds, Prohibition of issue of shares with disproportionate rights, Termination of disproportionately excessive voting rights in existing companies, Calls on shares of some class to be made on uniform basis, Power of company to accept unpaid share capital, although not called up, Payment of dividend in proportion to amount paid-up, Power of limited company to alter its share capital, share capital to stand increased where an order is made under section 81(4), Notice to Registrar of consolidation of share capital, conversion of shares into stock, etc, Effect of conversion of shares into stock, Notice of increase of share capital or of members, Power of unlimited company to provide for reserve share capital on re-registration, Special resolution for reduction of share capital, Application to Court for confirming order, objections by creditors and settlement of list of objecting creditors, Order confirming reduction and powers of Court on making such order, Registration of order and minute of reduction, Liability of members in respect of reduced shares, Penalty for concealing name of creditor, etc, Alteration of rights of holders of special classes of shares, Transfer not to be registered except on production of instrument of transfer, Restriction on acquisition of certain shares, Restriction on the transfer of shares of foreign companies, Power of Central Government to direct companies not to give effect to the transfer, Time within which refusal to be communicated, Nothing in sections 108A to 108D to apply to Government companies, etc, Applicability of the provisions of sections 108A to 108F, Construction of certain expressions used in sections 108A to 108G, Penalty for acquisition or transfer of share in contravention of sections 108A to 108D, Power to refuse registration and appeal against refusal, Limitation of time for issue of certificates, Issue and effect of share warrants to bearer, share warrants and entries in register of members, Debentures with voting rights not to be issued hereafter, Appointment of debenture trustees and duties of debenture trustees, Liability of company to create security and debenture redemption reserve, Right to obtain copies of and inspect trust deed, Liability of trustees for debenture holders, Power to re-issue redeemed debentures in certain cases, Specific performance of contract to subscribe for debentures, Payments of certain debts out of assets subject to floating charge in priority to claims under the charge, Certain charges to be void against liquidator or creditors unless registered, Registration of charges on properties acquired subject to charge, Particulars in case of series of debentures entitling holders pari passu, Particulars in case of commission, etc., on debentures, Register of charges to be kept by Registrar, Endorsement of certificate of registration on debenture or certificate of debenture stock, Duty of company as regards registration and right of interested party, Provisions of Part to apply to modification of charges, Copy of instrument creating charge to be kept by company at registered office, Entry in register of charges of appointment of receiver or manager, Company to report satisfaction and procedure thereafter, Power of Registrar to make entries of satisfaction and release in absence of intimation from company, Copy of memorandum of satisfaction to be furnished to company, Rectification by Company Law Board of register of charges, Right to inspect copies of instruments creating charges and company's register of charges, Application of Part to charges requiring registration under it but not under previous law, Publication of authorized as well as subscribed and paid-up capital, Register and index of beneficial owners to be of debenture-holders, Declaration as to shares and debentures held in trust, Power to close register of members or debenture holders, Power for company to keep foreign register of members or debenture holder, Annual return to be made by company having a share capital, Annual return to be made by company not having a share capital, Further provisions regarding annual return and certificate to be annexed thereto, Place of keeping, and inspection of, registers and returns, Statutory meeting and statutory report of company, Power of Company Law Board to call annual general meeting, Penalty for default in complying with section 166 or 167, Calling of extra1ordinary general meeting on requisition, Contents and manner of service of notice and persons on whom it is to be served, Explanatory statement to be annexed to notice, Voting to be by show of hands in first instance, Chairman's declaration of result of voting by show of hands to be conclusive, Restriction on exercise of voting right of members who have not paid calls, etc, Restrictions on exercise of voting right in other cases to be void, Right of member to use his votes differently, Power of Company Law Board to order meeting to be called, Representation of corporations at meetings of companies and of creditors, Representation of the President and Governors in meetings of companies of whch they are members, Exercise of voting rights in respect of shares held in trust, Declaration by persons not holding beneficial interest in any share, Investigation of beneficial ownership of shares in certain cases, Registration of certain resolutions and agreements, Minutes of proceedings of general meetings and of Board and other meeting, Presumptions to be drawn where minutes duly drawn and signed, Inspection of minute books of general meetings, Publication of reports of proceedings of general meetings, Company not to appoint or employ certain different categories of managerial personnel at the same time, Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits, Calculation of commission, etc., in certain cases, Avoidance of provisions relieving liability of officers and auditors of company, Undercharged insolvent not to manage companies, Power to restrain fraudulent persons from managing companies, Restriction on appointment of firm or body corporate to office or place of profit under a company, Unpaid idend to be transferred to special idend account, Establishment of Investor Education and Protection Fund, idend not to be paid except to registered shareholders or to their order or to their bankers, Right to idend, rights shares, and bonus shares to be held in abeyance pending registration of transfer of shares, Penalty for failure to distribute idends within forty-two days, Power of company to pay interest out of capital in certain cases, Inspection of books of account, etc., of companies, Constitution of National Advisory Committee on Accounting Standards, Form and contents of balance sheet and profit and loss account, Balance sheet of holding company to include certain particulars as to its subsidiaries, Financial year of holding company and subsidiary, Rights of holding company's representative and members, Authentication of balance sheet and profit and loss account, Profit and loss account to be annexed and auditors' report to be attached to balance sheet, Penalty for improper issue, circulation or publication of balance sheet or profit and loss account, Right of members to copies of balance sheet and auditors' report, Three copies of balance sheet, etc., to be filed with Registrar, Duty of officer to make disclosure of payments, etc, Construction of references to documents annexed to accounts, Certain companies to publish statement in the Form in Table F in schedule I, Auditor not to be appointed except with the approval of the company by special resolution in certain cases, Provisions as to resolutions for appointing or removing auditors, Qualifications and disqualifications of auditors, Audit of accounts of branch office of compan, Reading and inspection of auditor's report, Right of auditor to attend general meeting, Penalty for non-compliance with sections 225 to 231, Penalty for non-compliance by auditor with sections 227 and 229, Power of Central Government to direct special audit in certain cases, Power of Registrar to call for information or explanation, Investigation of the affairs of a company, Application by members to be supported by evidence and power to call for security, Investigation of company's affairs in other cases, Firm, body corporate or association not to be appointed as inspector, Power of inspectors to carry investigation into affairs of related companies, etc, Application for winding up of company or an order under section 397 or 398, Proceedings for recovery of damages or property, Imposition of restrictions upon shares and debentures and prohibition of transfer of shares or debentures in certain cases, Voluntary winding up of company, etc., not to stop investigation proceedings, Subscribers of memorandum deemed to be directors, Appointment of directors and proportion of those who are to retire by rotation, Ascertainment of directors retiring by rotation and filling of vacancies, Right of persons other than retiring directors to stand for directorship, Right of company to increase or reduce the number of directors, Increase in number of directors to require Government sanction, Filling of casual vacancies among directors, Appointment of directors to be voted on inidually, Sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc, Consent of candidate for directorship to be filed with the company and consent to act as director to be filed with the Registrar, Option to company to adopt proportional representation for the appointment of directors, Restrictions on appointment or advertisement of director, Certain persons not to be appointed managing directors, Amendment of provision relating to managing, whole time or non-rotational directors to require Government approval, Appointment of managing or whole-time director or manager to require Government approval only in certain cases, Time within which share qualification is to be obtained and maximum amount thereof, No person to be a director of more than twenty companies, Choice to be made by director of more than twenty companies at commencement of Act, Choice by person becoming director of more than twenty companies after commencement of Act, Exclusion of certain directorships for the purposes of sections 275, 276 and 2, Board to meet at least once in every three calendar months, Procedure where meeting adjourned for want of quorum, Certain powers to be exercised by Board only at meeting, Prohibitions and restrictions regarding political contributions, Power of Board and other persons to make contributions to the National Defense Fund, etc, Appointment of sole selling agents to require approval of company in general meeting, Prohibition of payment of compensation to sole selling agents for loss of office in certain cases, Power of Central Government to prohibit the appointment of sole selling agents in certain cases, Application of section 295 to book debts in certain cases, Board's sanction to be required for certain contracts in which particular directors are interested, Interested director not to participate or vote in Board's proceedings, Register of contracts, companies and firms in which directors are interested, Disclosure to members of director's interest in contract appointing manager, managing director, Duty of directors, etc., to make disclosure, Register to be kept by Registrar and inspection thereof, Register of directors' shareholdings, etc, Duty of directors and persons deemed to be directors to make disclosure of shareholdings, Provisions for increase in remuneration to require Government sanction, Increase in remuneration of managing director on re-appointment or appointment after Act to require Government sanction, Prohibition of assignment of office by director, Appointment and term of office of alternate directors, Director, etc., not to hold office or place of profit, Number of companies of which one person may be appointed managing director, Managing director not to be appointed for more than five years at a time, Compensation for loss of office not permissible except to managing or whole-time directors or to directors who are managers, Payment to director, etc., for loss of office, etc., in connection with transfer of undertaking or property, Payment to director for loss of office, etc., in connection with transfer of shares, Provisions supplementary to sections 318, 319 and 320, Directors, etc., with unlimited liability in limited company, Special resolution of limited company making liability of directors, etc., unlimited, Loans, etc., to companies under the same management, Provisions as to certain loans which could not have been made if sections 369 and 370 were in force, Penalty for contravention of section 369, 370 or 370A, Purchase by company of shares, etc., of other companies, Investments made before commencement of Act, Penalty for contravention of section 372 or 373, Condition prohibiting reconstruction or amalgamation of company except on continuance of managing agent, etc., to be void, Firm or body corporate not to be appointed manager, Certain persons not to be appointed managers, Number of companies of which a person may be appointed manager, Application of sections 269, 310, 311, 312 and 317 to managers, Sections 386 to 388 not to apply to certain private companies, Reference to Company Law Board of cases against managerial personnel, Power of Central Government to remove managerial personnel on the basis of Company Law Board's decision, Power to compromise or make arrangements with creditors and members, Power of High Court to enforce compromises and arrangements, Information as to compromises or arrangements with creditors and members, Provisions for facilitating reconstruction and amalgamation of companies, Notice to be given to Central Government for applications under sections 391 and 394, Power and duty to acquire shares of shareholders dissenting from sheme or contract approved by majority, Power of Central Government to provide for amalgamation of companies in national interest, Preservation of books and papers of amalgamated company, Application to Company Law Board for relief in cases of oppression, Application to Company Law Board for relief in cases of mismanagement, Right to apply under sections 397 and 398, Notice to be given to Central Government of applications under sections 397 and 398, Right of Central Government to apply under sections 397 and 398, Powers of Company Law Board on application under section 397 or 398, Effect of alteration of memorandum or articles of company by order under section 397 or 398, Addition of respondents to application under section 397 or 398, Application of sections 539 to 544 to proceedings under sections 397 and 398, Consequences of termination or modification of certain agreements, Powers of Government to prevent oppression or mismanagement, Power of Company Law Board to prevent change in Board of directors likely to affect company prejudiciall, Contracts by agents of company in which company is undisclosed principal. 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