Companies Act — 1956 to 2013 Reference
Companies Act, 1956 vs Companies Act, 2013 — type a section number to find its 2013 equivalent, plus a topic-wise comparison covering NCLT, One Person Company, CSR, independent directors and class action suits.
For reference only: This comparison is a general educational reference and does not constitute legal advice. Always verify from the official Government of India Gazette Notifications or India Code (indiacode.nic.in) before relying on any provision. — ASK Law Xperts, Rohini, Delhi.
| Topic | Companies Act, 1956 | Companies Act, 2013 |
|---|---|---|
| Dispute Resolution | Company Law Board (CLB) | NCLT (National Company Law Tribunal) + NCLAT (Appellate) — quasi-judicial, faster New |
| One Person Company | Not allowed — min 2 shareholders for private company | S.2(62) — OPC allowed with 1 director + 1 shareholder New |
| Private Company shareholders | Max 50 shareholders | Max 200 shareholders Enhanced |
| CSR — Corporate Social Responsibility | Voluntary | S.135 — Mandatory 2% of net profit for eligible companies (net worth ≥₹500Cr OR turnover ≥₹1000Cr OR net profit ≥₹5Cr) New — India first globally |
| Independent Directors | Not mandatory | Mandatory for listed companies + specified class; minimum 1/3 of board New |
| Women Directors | Not required | Mandatory for listed companies and specified public companies New |
| Dormant Company | No provision | S.455 — Dormant company status introduced for inactive companies New |
| Audit Rotation | No mandatory rotation | Mandatory auditor rotation (S.139(2)) — individual auditor: one term of 5 years; audit firm: two terms (10 years) — for listed & prescribed companies New |
| Insolvency | Winding up under Companies Act only | IBC 2016 (Insolvency & Bankruptcy Code) — separate comprehensive law; NCLT handles Separate law |
| Class Action Suits | Not available | S.245 — Members/depositors can file class action suits against company/auditors New |
| Electronic Records | Physical documents mandatory | Electronic records, e-filing mandated; digital signatures valid Enhanced |
| Director Duties | Duties not codified in Act | S.166 — Duties of directors codified; fiduciary duty, act in good faith, avoid conflicts New |
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