History of Company Legislation in India; The Indian Companies Act, 1850; 1866; 1882 & 1913; The Company Act 1956 & 2103; Amendment Act of 2013.

Sanjeev Sikarwar4 Comments

The history of company legislation in India can be traced back to the colonial era when the British government introduced the concept of companies and enacted the first company law in the country. Over the years, company legislation in India has evolved significantly to adapt to changing economic and business environments. Here is a brief overview of the key milestones in the history of company legislation in India:

  1. The Indian Companies Act, 1850: This was the first piece of legislation related to companies in India, and it was enacted during the British colonial period. It primarily regulated joint-stock companies.
  2. The Indian Companies Act, 1866: This act replaced the 1850 Act and introduced several reforms. It set the foundation for company law in India and covered various aspects of company formation, management, and dissolution.
  3. The Indian Companies Act, 1882: This act was a significant development in the regulation of companies. It introduced the concept of limited liability and defined the rights and responsibilities of shareholders, directors, and managers.
  4. The Indian Companies Act, 1913: This act brought about further reforms and introduced stricter regulations on companies. It required companies to publish their balance sheets, profit and loss accounts, and other financial information.
  5. The Companies Act, 1956: This was a landmark piece of legislation that consolidated and amended the previous laws related to companies. It governed various aspects of company formation, management, and winding up. The 1956 Act was in force for several decades and saw numerous amendments.
  6. The Companies Act, 2013: This act replaced the outdated 1956 Act and introduced comprehensive changes to company law in India. It aimed to align Indian corporate regulations with international standards and promote transparency, corporate governance, and investor protection. Some of the key features of the Companies Act, 2013, include the introduction of one-person companies, the concept of independent directors, and enhanced corporate social responsibility (CSR) provisions.
  7. Amendments to the Companies Act, 2013: Since its enactment, the Companies Act, 2013, has seen several amendments to address emerging issues and improve corporate governance. These amendments have further refined the regulatory framework for companies in India.
  8. The Insolvency and Bankruptcy Code, 2016: Although not strictly a company law, the Insolvency and Bankruptcy Code (IBC) has had a significant impact on the corporate landscape in India. It provides a consolidated framework for resolving insolvency and bankruptcy issues, which has implications for companies and creditors.
  9. Recent Developments: The Indian government continues to make changes and amendments to company legislation to adapt to the evolving business environment. As of my last knowledge update in September 2021, there may have been further developments and amendments to company laws in India.

4 Comments to “History of Company Legislation in India; The Indian Companies Act, 1850; 1866; 1882 & 1913; The Company Act 1956 & 2103; Amendment Act of 2013.”

  1. I lost my money Rs. 2550 in air india Ltd fruads. I had called in 1930..they had been registered my complaint and next process I completed. Two days later that air india Ltd one day called me you blocked our government account. She said me why are blocked our government.. I am so excited that account was blocked. I contact near local police station and gave them report that I registered in cyber crime portal… But what to do next.. Please give some suggestions..

    1. You have completed all steps on your part. Now it is the duty of the Police to proceed further with registration of FIR and investigation and thereby to nab the culprit. But I think Police will not register FIR on your information. However police should register FIR under sections 420/467/468/471 IPC and nab the culprits because this matter is not only related to Rs. 2500/- but so many persons would have been cheated by them with the same modus operandi. Now you should contact police to know whether any amount has been hold in fraudster’s bank account or not. If any amount has been hold then you request to police to write a letter to bank for release the held amount to your account. If amount is not hold then investigation is only the remedy.

  2. I had received call from air india Ltd. One lady called me. She said If you are selected for ground staff supervisor then you have to pay Rs. 2550 first she said me send me your documents then I sent and next day she messaged me you have pre-selected for ground staff supervisor and you have to pay registration charge Rs. 2550 and I paid and after few days they sent me fake job offering letter by speed post.. They wanted more money for joining fees charge but I didn’t pay and I call 1930 in cyber crime portal

    1. You have completed all steps on your part. Now it is the duty of the Police to proceed further with registration of FIR and investigation and thereby to nab the culprit. But I think Police will not register FIR on your information. However police should register FIR under sections 420/467/468/471 IPC and nab the culprits because this matter is not only related to Rs. 2500/- but so many persons would have been cheated by them with the same modus operandi. Now you should contact police to know whether any amount has been hold in fraudster’s bank account or not. If any amount has been hold then you request to police to write a letter to bank for release the held amount to your account. If amount is not hold then investigation is only the remedy.

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