Certain provisions of the Companies Act, 2013 are applicable only to certain companies such a listed company, a company with a certain turnover or paid-up share capital etc.
Also, certain companies such as One person Companies, Small companies, Banking companies, Insurance companies, etc. are exempted from certain compliances.
This article provides a detailed list of all such provisions and their applicability and non-applicability.

With the advent of Companies Act, 2013, many new concepts and provisions have been introduced. Many old concepts have also been revisited and the provisions have been changed. This week we are going to elaborate on the concept of Small Shareholder’s Director and provisions relating to the same in Companies Act, 2013 (“the Act”) and its relevant rules.

The Companies Act, 2013 (“CA 2013”) has introduced a new body by the name of National Financial Reporting Authority (“NFRA”) for matters relating to accounting and auditing standards under CA 2013. This body shall be constituted by the Central Government. Though the nomenclature for such a body may be different, but the concept is not new. Under Companies Act, 1956 (“CA 1956”), a similar body by the name of National Advisory Committee on Accounting Standards (“NACAS”) existed. NACAS was an advisory body on accounting standards. The newly introduced concept of NFRA is expected to cover not just advisory, but also regulatory matters on not just accounting, but also on auditing and financial reporting. NFRA has been introduced through Section 132 of the CA 2013. This article will provide an overview of NFRA.

With the introduction of the Companies Act, 2013 (“New Act”), many new concepts have been added in Corporate Law. One such new introduction is the concept of Registered Valuer. While, Companies Act, 1956 (“Old Act”) did provide that valuation of assets in various circumstances was required to be done by a Chartered Accountant, now, the New Act requires such valuation to be done by a Registered Valuer. With the insertion of the concept of Registered Valuer, the responsibility as well as liability of the person conducting the valuation has increased manifold. The various provisions of the New Act relating to the Registered Valuer have been explained under this article.