Companies Bill enacted into Law

The Companies Bill 2013 has received Presidential assent on 29th August 2013, thereby becoming the 18th Act for the year 2013. With this move, India has now got a new company law that has replaced the erstwhile Companies Act 1956. The Ministry of Corporate Affairs (MCA) has come up with draft rules for public comments also. MCA has also notified 98 sections of the new Companies Act, 2013, which are effective from 12th September, 2013.