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Issue 18 | January 2018

The Companies Act, 2013 (2013 Act) has been operationalised by the Ministry of Corporate Affairs (MCA) from 1 April 2014. Over the past three years, MCA has issued a number of amendments and clarifications to various sections and rules of the 2013 Act.

On 3 January 2018, the Companies (Amendment) Act, 2017 received the assent of the President of India. The Companies (Amendment) Act, 2017 makes significant changes to the 2013 Act which aim at ease of doing business, better corporate governance and enforcement of stringent penal provisions for defaulting companies.

The Companies (Amendment) Act, 2017 will come into effect on such date as the Central Government (CG) may, by notification in the Official Gazette, appoint. Different dates may be appointed for different provisions of the 2013 Act and any reference in any provision to the commencement of the 2013 Act should be construed as a reference to the coming into force of that provision.

This month’s issue of the Accounting and Auditing Update (AAU) contains an updated compilation of our articles over the last year on the key aspects of the 2013 Act.

These articles include clarifications and implementation related insights that have been gained as companies have sought to apply in practice this legislation, including changes made by the Companies (Amendment) Act, 2017.

Our articles also highlight at relevant places the requirements of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015 that are applicable to listed entities in India.

Our publication also carries a regular synopsis of some recent regulatory updates in India and internationally.