Company is a separate legal entity distinct from the group of persons who come together and incorporate it for a common purpose for meeting their objectives. Companies across India are governed by the Companies Act, as amended from time to time.
Previously, the companies were governed by the Companies Act, 1956 and now they are governed by the Companies Act, 2013. The Companies Act, 1956 was enacted with an object to consolidate and amend the law relating to companies and certain other associations. The Companies Act, 1956 was modelled on the lines of English Company Law and has been the founding pillar on which our corporate legal framework builds upon and therefore has been in force for more than fifty-five (55) years and had undergone several amendments from time to time. However, a need was felt to enact a new legislation to meet the changing dynamics in national and international economy and to accelerate the expansion and growth of Indian economy. It is imperative to mention that Companies Act, 2013 is prospective in nature and therefore, companies registered under the previous Companies Act, 1956 are still considered and will be slowly transitioning into Companies Act 2013. The Companies Act, 2013 has been amended from time to time to be in concurrence with the Insolvency and Bankruptcy Code, 2016 and to overcome the practical difficulties in its implementation. The Company’s Act is formidable and comprehensive subject requiring a great deal of patience, time and perseverance to understand the intricacies of the subject.
This book elucidates briefly the company law in concurrence with the IBC Code, 2016 and other relevant material intimately connected with the subject for the convenience of students of the five-year (5) year and three (3) year law degree course to enable them to get a broad understanding of the topics that would be covered under the revised syllabus. Suitable headings and sub-headings have been given to various points discussed for ready reference in selecting the required topic.
We thank Sri Neeraj Gogia, M/s. ALT Publications, Hyderabad, Telangana State, India for his immense support, patience and co-operation in providing data base on the subject and encouragement to bring out this book in an elegant manner.
Our Special Thanks to Adv. Preethi Agrawal, (D/o. Shanker Agrawal and Grand Daughter of renowned poet, Late Dulichand Shashi), who is not only responsible for initiating this work but also continues to offer her moral, editorial, physical and intellectual support till its completion. Many thanks to all our readers and students too.
Suggestions and Improvements, if any, are invited from everyone, for further improvement of the book.
DR. T. Padma