Home - India Legal Aspects - Companies Act

For the safeguard and the smooth regulation of the companies functioning in India, the Indian Constitution has put forth some laws and regulations. These fall under the Companies Act. The modalities prescribed under the same need to be followed. The chief motives of this act are :

• Protection of investors and companies.
• Aiding the growth and development of the company.
• Protecting the interest of creditors.
• Accomplishment of the socio-economic goals set by the policies of the Indian government
• Regulating company affairs for the preservation of public interest.

Amendment :
To cope up with the complexities brought in by the economic liberalization, amendment had been proposed to the act to meet the following end results :

1. Decline of share capital
2. Transfer of securities.
3. Procedural reforms, etc.

Other such related laws
Other laws that enable the smooth functioning of the corporate world are :

1. The Company Secretaries Act, 1980
2. The Competition Act 2002
3. The Competition Act, 2002 No.12 of 2003
4. The Monopolies and Restrictive Trade Practices Act, 1969
5. The Partnership Act, 1932
6. The SICK Industrial Companies (Special Provisions) Act, 1985
7. The Sick Industrial Companies Act, 1985 etc.