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| Home > Indian Bare Acts > The Companies Act, 1956 |
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| The Companies Act, 1956 |
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Section 1 Short title, commencement and extent. Section 10 Jurisdiction of Courts. Section 100 Special resolution for reduction of share capital. Section 101 Application to Court for confirming order, objections by creditors and settlement of list of objecting creditors. Section 102 Order confirming reduction and powers of Court on making such order. Section 103 Registration of order and minute of reduction. Section 105 Penalty for concealing name of creditor, etc. Section 106 Alteration of rights of holders of special classes of shares. Section 107 Rights of dissentient shareholders. Section 108 Transfer not to be registered except on production of instrument of transfer. Section 108-I Penalty for acquisition or transfer of share in contravention of sections 108A to 108D. Section 108A Restriction on acquisition of certain shares. Section 108B Restriction on transfer of shares. Section 108C Restriction on the transfer of shares of foreign companies. Section 108D Power of Central Government to direct companies not to give effect to the transfer. Section 108E Time within which refusal to be communicated. Section 108F Nothing in sections 108A to 108D to apply to Government companies, etc. Section 108G Applicability of the provisions of sections 108A to 108F. Section 108H Construction of certain expressions used in sections 108A to 108G. Section 109 Transfer by legal representative. Section 109A Nomination of shares Section 109B Transmission of Shares Section 10E Constitution of Board of Company Law Administration. Section 10F Appeals against the orders of the Company Law Board. Section 11 Prohibition of associations and partnerships exceeding certain number. Section 110 Application for transfer. Section 111 Power to refuse registration and appeal against refusal. Section 111A Rectification of Register on transfer. Section 112 Certification of transfers. Section 113 Limitation of time for issue of certificates. Section 114 Issue and effect of share warrants to bearer. Section 115 Share warrants and entries in register of members. Section 116 Penalty for personation of shareholder. Section 117 Debentures with voting rights not to be issued hereafter. Section 117A Debenture trust deed Section 117B Appointment of debenture trustees and duties of debenture trustees. Section 117C Liability of company to create security and debenture redemption reserve Section 118 Right to obtain copies of and inspect trust deed. Section 119 Liability of trustees for debenture holders. Section 12 Mode of forming incorporated company. Section 120 Perpetual debentures. Section 121 Power to re-issue redeemed debentures in certain cases. Section 122 Specific performance of contract to subscribe for debentures. Section 123 Payments of certain debts out of assets subject to floating charge in priority to claims under the charge. Section 124 Charge to include mortgage in this Part. Section 125 Certain charges to be void against liquidator or creditors unless registered. Section 126 Date of notice of charge. Section 127 Registration of charges on properties acquired subject to charge. Section 128 Particulars in case of series of debentures entitling holders pari passu. Section 129 Particulars in case of commission, etc., on debentures. Section 13 Requirements with respect to memorandum. Section 130 Register of charges to be kept by Registrar. Section 131 Index to register of charges. Section 132 Certificate of registration. Section 133 Endorsement of certificate of registration on debenture or certificate of debenture stock. Section 134 Duty of company as regards registration and right of interested party. Section 135 Provisions of Part to apply to modification of charges. Section 136 Copy of instrument creating charge to be kept by company at registered office. Section 137 Entry in register of charges of appointment of receiver or manager. Section 138 Company to report satisfaction and procedure thereafter. Section 139 Power of Registrar to make entries of satisfaction and release in absence of intimation from company. Section 14 Form of memorandum. Section 140 Copy of memorandum of satisfaction to be furnished to company. Section 141 Rectification by Company Law Board of register of charges. Section 142 Penalties. Section 143 Companys register of charges. Section 144 Right to inspect copies of instruments creating charges and companys register of charges. Section 145 Application of Part to charges requiring registration under it but not under previous law. Section 146 Registered office of company. Section 147 Publication of name by company. Section 148 Publication of authorised as well as subscribed and paid-up capital. Section 149 Restrictions on commencement of business. Section 15 Printing and signature of memorandum. Section 150 Register of members. Section 151 Index of members. Section 152 Register and index of debenture holders. Section 152A Register and index of beneficial owners to be of debenture -holders. Section 152A Register and index of beneficial owners to be of debenture -holders. Section 153 Trust not to be entered on register. Section 153B Declaration as to shares and debentures held in trust. Section 154 Power to close register of members or debenture holders. Section 157 Power for company to keep foreign register of members or debenture holders. Section 158 Provisions as to foreign registers. Section 159 Annual return to be made by company having a share capital. Section 15A Special provision as to alteration of memorandum consequent on alteration of name of State of Madras. Section 15B Special provision as to alteration of memorandum consequent on alteration of name of State of Mysore. Section 16 Alteration of memorandum. Section 160 Annual return to be made by company not having a share capital. Section 161 Further provisions regarding annual return and certificate to be annexed thereto. Section 162 Penalty and interpretation. Section 163 Place of keeping, and inspection of, registers and returns. Section 164 Registers, etc., to be evidence. Section 165 Statutory meeting and statutory report of company. Section 166 Annual general meeting. Section 167 Power of Company Law Board to call annual general meeting. Section 168 Penalty for default in complying with section 166 or 167. Section 169 Calling of extra1ordinary general meeting on requisition. Section 17 Special resolution and confirmation by (Company Law Board) required for alteration of memorandum. Section 170 Sections 171 to 186 to apply to meetings. Section 171 Length of notice for calling meeting. Section 172 Contents and manner of service of notice and persons on whom it is to be served. Section 173 Explanatory statement to be annexed to notice. Section 174 Quorum for meeting. Section 175 Chairman of meeting. Section 176 Proxies. Section 177 Voting to be by show of hands in first instance. Section 178 Chairmans declaration of result of voting by show of hands to be conclusive. Section 179 Demand for poll. Section 17A Change of registered office within a State Section 18 Alteration to be registered within three months. Section 180 Time of taking poll. Section 181 Restriction on exercise of voting right of members who have not paid calls, etc. Section 182 Restrictions on exercise of voting right in other cases to be void. Section 183 Right of member to use his votes differently. Section 184 Scrutineers at poll. Section 185 Manner of taking poll and result thereof. Section 186 Power of Company Law Board to order meeting to be called. Section 187 Representation of corporations at meetings of companies and of creditors. Section 187A Representation of the President and Governors in meetings of companies of which they are members. Section 187B Exercise of voting rights in respect of shares held in trust. Section 187C Declaration by persons not holding beneficial interest in any share. Section 187D Investigation of beneficial ownership of shares in certain cases. Section 188 Circulation of members resolutions. Section 189 Ordinary and special resolutions. Section 19 Effect of failure to register. Section 190 Resolutions requiring special notice. Section 191 Resolutions passed at adjourned meetings. Section 192 Registration of certain resolutions and agreements. Section 192A Passing of resolutions by postal ballot. Section 193 Minutes of proceedings of general meetings and of Board and other meetings. Section 194 Minutes to be evidence. Section 195 Presumptions to be drawn where minutes duly drawn and signed. Section 196 Inspection of minute books of general meetings. Section 197 Publication of reports of proceedings of general meetings. Section 197A Company not to appoint or employ certain different categories of managerial personnel at the same time. Section 198 Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits. Section 199 Calculation of commission, etc., in certain cases. Section 2 Definitions. Section 20 Companies not to be registered with undesirable names. Section 200 Prohibition of tax-free payments. Section 201 Avoidance of provisions relieving liability of officers and auditors of company. Section 202 Undischarged insolvent not to manage companies. Section 203 Power to restrain fraudulent persons from managing companies. Section 204 Restriction on appointment of firm or body corporate to office or place of profit under a company. Section 204A Omitted Section 205 idend to be paid only out of profits. Section 205A Unpaid idend to be transferred to special idend account. Section 205B Payment of unpaid or unclaimed idend. Section 205B Payment of unpaid or unclaimed idend. Section 205C Establishment of Investor Education and Protection Fund.- Section 206A Right to idend, rights shares, and bonus shares to be held in abeyance pending registration of transfer of shares. Section 207 Penalty for failure to distribute idends within forty-two days. Section 208 Power of company to pay interest out of capital in certain cases. Section 209 Books of account to be kept by company. Section 209A Inspection of books of account, etc., of companies. Section 21 Change of name by company. Section 210 Annual accounts and balance sheet. Section 210A Constitution of National Advisory Committee on Accounting Standards. Section 211 Form and contents of balance sheet and profit and loss account. Section 212 Balance sheet of holding company to include certain particulars as to its subsidiaries. Section 213 Financial year of holding company and subsidiary. Section 214 Rights of holding companys representative and members. Section 215 Authentication of balance sheet and profit and loss account. Section 216 Profit and loss account to be annexed and auditors report to be attached to balance sheet. Section 217 Boards report. Section 218 Penalty for improper issue, circulation or publication of balance sheet or profit and loss account. Section 219 Right of members to copies of balance sheet and auditors report. Section 22 Rectification of name of company. Section 220 Three copies of balance sheet, etc., to be filed with Registrar. Section 221 Duty of officer to make disclosure of payments, etc. Section 222 Construction of references to documents annexed to accounts. Section 223 Certain companies to publish statement in the Form in Table F in Schedule I. Section 224 Appointment and remuneration of auditors. Section 224A Auditor not to be appointed except with the approval of the company by special resolution in certain cases. Section 225 Provisions as to resolutions for appointing or removing auditors. Section 226 Qualifications and disqualifications of auditors. Section 227 Powers and duties of auditors. Section 228 Audit of accounts of branch office of company. Section 229 Signature of audit report, etc. Section 23 Registration of change of name and effect thereof. Section 230 Reading and inspection of auditors report. Section 231 Right of auditor to attend general meeting. Section 232 Penalty for non-compliance with sections 225 to 231. Section 233 Penalty for non-compliance by auditor with sections 227 and 229. Section 233A Power of Central Government to direct special audit in certain cases. Section 233B Audit of cost accounts in certain cases. Section 234 Power of Registrar to call for information or explanation. Section 234A Seizure of documents by Registrar. Section 235 Investigation of the affairs of a company. Section 236 Application by members to be supported by evidence and power to call for security. Section 237 Investigation of companys affairs in other cases. Section 238 Firm, body corporate or association not to be appointed as inspector. Section 239 Power of inspectors to carry investigation into affairs of related companies, etc. Section 24 Change of name of existing private limited companies. Section 240 Production of documents and evidence. Section 240A Seizure of documents by inspector. Section 241 Inspectors report. Section 242 Prosecution. Section 243 Application for winding up of company or an order under section 397 or 398. Section 244 Proceedings for recovery of damages or property. Section 245 Expenses of investigation. Section 246 Inspectors report to be evidence. Section 247 Investigation of ownership of company. Section 248 Omitted Section 249 Omitted Section 25 Power to dispense with "Limited" in name of charitable or other company. Section 25 Power to dispense with "Limited" in name of charitable or other company. Section 250 Imposition of restrictions upon shares and debentures and prohibition of transfer of shares or debentures in certain cases. Section 250A Voluntary winding up of company, etc., not to stop investigation proceedings. Section 251 Saving for legal advisers and bankers. Section 252 Minimum number of directors. Section 253 Only iniduals to be directors. Section 254 Subscribers of memorandum deemed to be directors. Section 255 Appointment of directors and proportion of those who are to retire by rotation. Section 256 Ascertainment of directors retiring by rotation and filling of vacancies. Section 257 Right of persons other than retiring directors to stand for directorship. Section 258 Right of company to increase or reduce the number of directors. Section 259 Increase in number of directors to require Government sanction. Section 259 Increase in number of directors to require Government sanction. Section 26 Articles prescribing regulations. Section 260 Additional directors. Section 262 Filling of casual vacancies among directors. Section 263 Appointment of directors to be voted on inidually. Section 263A Sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc. Section 264 Consent of candidate for directorship to be filed with the company and consent to act as director to be filed with the Registrar. Section 265 Option to company to adopt proportional representation for the appointment of directors. Section 266 Restrictions on appointment or advertisement of director. Section 267 Certain persons not to be appointed managing directors. Section 268 Amendment of provision relating to managing, wholetime or non-rotational directors to require Government approval. Section 269 Appointment of managing or whole-time director or manager to require Government approval only in certain cases. Section 27 Regulations required in case of unlimited company, company limited by guarantee or private company limited by shares. Section 270 Time within which share qualification is to be obtained and maximum amount thereof. Section 272 Penalty. Section 273 Saving. Section 274 Disqualifications of directors. Section 275 No person to be a director of more than twenty companies. Section 276 Choice to be made by director of more than twenty companies at commencement of Act. Section 277 Choice by person becoming director of more than twenty companies after commencement of Act. Section 278 Exclusion of certain directorships for the purposes of sections 275, 276 and 277. Section 279 Penalty. Section 28 Adoption and application of Table A in the case of companies limited by shares. Section 283 Vacation of office by directors. Section 284 Removal of directors. Section 285 Board to meet at least once in every three calendar months. Section 286 Notice of meetings. Section 287 Quorum for meetings. Section 288 Procedure where meeting adjourned for want of quorum. Section 289 Passing of resolutions by circulation. Section 29 Form of articles in the case of other companies. Section 290 Validity of acts of directors. Section 291 General powers of Board. Section 292 Certain powers to be exercised by Board only at meeting. Section 293 Restrictions on powers of Board. Section 293 Restrictions on powers of Board. Section 293A Prohibitions and restrictions regarding political contributions. Section 293B Power of Board and other persons to make contributions to the National Defence Fund, etc. Section 294 Appointment of sole selling agents to require approval of company in general meeting. Section 294A Prohibition of payment of compensation to sole selling agents for loss of office in certain cases. Section 294AA Power of Central Government to prohibit the appointment of sole selling agents in certain cases . Section 295 Loans to directors, etc. Section 296 Application of section 295 to book debts in certain cases. Section 297 Boards sanction to be required for certain contracts in which particular directors are interested. Section 299 Disclosure of interests by director. Section 2A Interpretation of certain words and expressions. Section 3 Definitions of "company ", "existing company ", "private company " and "public company". Section 30 Form and signature of articles. Section 300 Interested director not to participate or vote in Boards proceedings. Section 301 Register of contracts, companies and firms in which directors are interested. Section 302 Disclosure to members of directors interest in contract appointing manager, managing director. Section 303 Register of directors etc. Section 304 Inspection of the register. Section 305 Duty of directors, etc., to make disclosure. Section 306 Register to be kept by Registrar and inspection thereof. Section 307 Register of directors shareholdings, etc. Section 308 Duty of directors and persons deemed to be directors to make disclosure of shareholdings. Section 309 Remuneration of directors. Section 31 Alteration of articles by special resolution. Section 310 Provisions for increase in remuneration to require Government sanction. Section 311 Increase in remuneration of managing director on re-appointment or appointment after Act to require Government sanction. Section 312 Prohibition of assignment of office by director. Section 313 Appointment and term of office of alternate directors. Section 314 Director, etc., not to hold office or place of profit. Section 316 Number of companies of which one person may be appointed managing director. Section 317 Managing director not to be appointed for more than five years at a time. Section 318 Compensation for loss of office not permissible except to managing or whole-time directors or to directors who are managers. Section 319 Payment to director, etc., for loss of office, etc., in connection with transfer of undertaking or property. Section 32 Registration of unlimited company as limited, etc. Section 320 Payment to director for loss of office, etc., in connection with transfer of shares. Section 321 Provisions supplementary to sections 318, 319 and 320. Section 322 Directors, etc., with unlimited liability in limited company. Section 323 Special resolution of limited company making liability of directors, etc., unlimited. Section 33 Registration of memorandum and articles. Section 34 Effect of registration. Section 349 Determination of net profits. Section 35 Conclusiveness of certificate of incorporation. Section 350 Ascertainment of depreciation. Section 355 Saving. Section 36 Effect of memorandum and articles. Section 37 Provision as to companies limited by guarantee. Section 370 Loans, etc., to companies under the same management. Section 370A Provisions as to certain loans which could not have been made if sections 369 and 370 were in force. Section 371 Penalty for contravention of section 369, 370 or 370A. Section 372 Purchase by company of shares, etc., of other companies. Section 372A Inter-corporate loans and investments. Section 373 Investments made before commencement of Act. Section 374 Penalty for contravention of section 372 or 373. Section 376 Condition prohibiting reconstruction or amalgamation of company except on continuance of managing agent, etc., to be void. Section 38 Effect of alteration in memorandum or articles. Section 383A Certain companies to have secretaries. Section 384 Firm or body corporate not to be appointed manager. Section 385 Certain persons not to be appointed managers. Section 386 Number of companies of which a person may be appointed manager. Section 387 Remuneration of manager. Section 388 Application of sections 269, 310, 311, 312 and 317 to managers. Section 388A Sections 386 to 388 not to apply to certain private companies. Section 388B Reference to Company Law Board of cases against managerial personnel. Section 388C Interim order by Company Law Board. Section 388D Decision of the Company Law Board. Section 388E Power of Central Government to remove managerial personnel on the basis of Company Law Boards decision. Section 39 Copies of memorandum and articles, etc., to be given to members. Section 390 Interpretation of sections 391 and 393. Section 391 Power to compromise or make arrangements with creditors and members. Section 392 Power of High Court to enforce compromises and arrangements. Section 393 Information as to compromises or arrangements with creditors and members. Section 394 Provisions for facilitating reconstruction and amalgamation of companies. Section 394A Notice to be given to Central Government for applications under sections 391 and 394. Section 395 Power and duty to acquire shares of shareholders dissenting from scheme or contract approved by majority. Section 396 Power of Central Government to provide for amalgamation of companies in national interest. Section 396A Preservation of books and papers of amalgamated company. Section 397 Application to Company Law Board for relief in cases of oppression. Section 398 Application to Company Law Board for relief in cases of mismanagement. Section 399 Right to apply under sections 397 and 398. Section 4 Meaning of " holding company " and " subsidiary". Section 40 Alteration of memorandum or articles, etc., to be noted in every copy. Section 400 Notice to be given to Central Government of applications under sections 397 and 398. Section 401 Right of Central Government to apply under sections 397 and 398. Section 402 Powers of Company Law Board on application under section 397 or 398. Section 403 Interim order by Company Law Board. Section 404 Effect of alteration of memorandum or articles of company by order under section 397 or 398. Section 405 Addition of respondents to application under section 397 or 398. Section 406 Application of sections 539 to 544 to proceedings under sections 397 and 398. Section 407 Consequences of termination or modification of certain agreements. Section 408 Powers of Government to prevent oppression or mismanagement. Section 409 Power of Company Law Board to prevent change in Board of directors likely to affect company prejudicially. Section 41 Definition of "member". Section 410 Appointment of Advisory Committee. Section 416 Contracts by agents of company in which company is undisclosed principal. Section 417 Employees securities to be deposited in post office savings bank or Scheduled Bank. Section 418 Provisions applicable to provident funds of employees. Section 419 Right of employee to see banks receipt for moneys or securities referred to in section 417 or 418. Section 42 Membership of holding company. Section 420 Penalty for contravention of sections 417, 418 and 419. Section 421 Filing of accounts of receivers. Section 422 Invoices, etc., to refer to receiver where there is one. Section 423 Penalty for non-compliance with sections 421 and 422. Section 424 Application of sections 421 to 423 to receivers and managers appointed by Court and managers appointed in pursuance of an instrument. Section 425 Modes of winding up. Section 426 Liability as contributories of present and past members. Section 427 Obligations of directors and managers whose liability is unlimited. Section 428 Definition of "contributory". Section 429 Nature of liability of contributory. Section 43 Consequences of default in complying with conditions constituting a company a private company. Section 430 Contributories in case of death of member. Section 431 Contributories in case of insolvency of member. Section 432 Contributories in case of winding up of a body corporate which is a member. Section 433 Circumstances in which company may be wound up by Court. Section 434 Company when deemed unable to pay its debts. Section 435 Transfer of winding up proceedings to District Court. Section 436 Withdrawal and transfer of winding up from one District Court to another. Section 437 Power of High Court to retain winding up proceedings in District Court. Section 438 Jurisdiction of High Court under sections 435, 436 and 437 to be exercised at any time and at any stage. Section 439 Provisions as to applications for winding up. Section 43A Private company to become public company in certain cases. Section 44 Prospectus or statement in lieu of prospectus to be filed by private company on ceasing to be private company. Section 440 Right to present winding up petition where company is being wound up voluntarily or subject to Courts supervision. Section 441 Commencement of winding up by Court. Section 442 Power of Court to stay or restrain proceedings against company. Section 443 Powers of Court on hearing petition. Section 444 Order for winding up to be communicated to Official Liquidator and Registrar. Section 445 Copy of winding up order to be filed with Registrar. Section 446 Suits stayed on winding up order. Section 447 Effect of winding up order. Section 448 Appointment of Official Liquidator. Section 449 Official Liquidator to be liquidator. Section 45 Members severally liable for debts where business carried on with fewer than seven, or in the case of a private company, two members. Section 450 Appointment and powers of provisional liquidator. Section 451 General provisions as to liquidators. Section 452 Style, etc., of liquidator. Section 453 Receiver not to be appointed of assets with liquidator. Section 454 Statement of affairs to be made to Official Liquidator. Section 455 Report by Official Liquidator. Section 456 Custody of companys property. Section 457 Powers of liquidator. Section 458 Discretion of liquidator. Section 458A Exclusion of certain time in computing periods of limitation. Section 459 Provision for legal assistance to liquidator. Section 46 Form of contracts. Section 460 Exercise and control of liquidators powers. Section 461 Books to be kept by liquidator. Section 463 Control of Central Government over liquidators. Section 463 Control of Central Government over liquidators. Section 464 Appointment and composition of committee of inspection. Section 465 Constitution and proceedings of committee of inspection. Section 466 Power of Court to stay winding up. Section 467 Settlement of list of contributories and application of assets. Section 468 Delivery of property to liquidator. Section 469 Payment of debts due by contributory and extent of set-off Section 47 Bills of exchange and promissory notes. Section 470 Power of Court to make calls. Section 471 Payment into bank of moneys due to company. Section 472 Moneys and securities paid into Bank to be subject to order of Court. Section 473 Order on contributory to be conclusive evidence. Section 474 Power to exclude creditors not proving in time. Section 475 Adjustment of rights of contributories. Section 476 Power to order costs. Section 477 Power to summon persons suspected of having property of company, etc. Section 478 Power to order public examination of promoters, directors, etc. Section 479 Power to arrest absconding contributory. Section 48 Execution of deeds. Section 480 Saving of existing powers of Court. Section 481 Dissolution of company. Section 482 Order made in any Court to be enforced by other Courts. Section 483 Appeals from orders. Section 484 Circumstances in which company may be wound up voluntarily. Section 485 Publication of resolution to wind up voluntarily. Section 486 Commencement of voluntary winding up. Section 487 Effect of voluntary winding up on status of company. Section 488 Declaration of solvency in case of proposal to wind up voluntarily. Section 489 Provisions applicable to a members voluntary winding up. Section 49 Investments of company to be held in its own name. Section 490 Power of company to appoint and fix remuneration of liquidators. Section 491 Boards powers to cease on appointment of a liquidator. Section 492 Power to fill vacancy in office of liquidator. Section 493 Notice of appointment of liquidator to be given to Registrar. Section 494 Power of liquidator to accept shares, etc., as consideration for sale of property of company. Section 495 Duty of liquidator to call creditors meeting in case of insolvency. Section 496 Duty of liquidator to call general meeting at the end of each year. Section 497 Final meeting and dissolution. Section 498 Alternative provisions as to annual and final meetings in case of insolvency. Section 499 Provisions applicable to a creditors voluntary winding up. Section 4A Public financial institutions. Section 5 Meaning of " officer who is in default". Section 50 Power for company to have official seal for use outside India. Section 500 Meeting of creditors. Section 501 Notice of resolutions passed by creditors meeting to be given to Registrar. Section 502 Appointment of liquidator. Section 503 Appointment of committee of inspection. Section 504 Fixing of liquidators remuneration. Section 505 Boards powers to cease on appointment of liquidator. Section 506 Power to fill vacancy in office of liquidator. Section 507 Application of section 494 to a creditors voluntary winding up. Section 508 Duty of liquidator to call meetings of company and of creditors at end of each year. Section 509 Final meeting and dissolution. Section 51 Service of documents on company. Section 510 Provisions applicable to every voluntary winding up Section 511 Distribution of property of company. Section 511A Application of section 454 to voluntary winding up. Section 512 Powers and duties of liquidator in voluntary winding up. Section 513 Body corporate not to be appointed as liquidator. Section 514 Corrupt inducement affecting appointment as liquidator. Section 515 Power of Court to appoint and remove liquidator in voluntary winding up. Section 516 Notice by liquidator of his appointment. Section 517 Arrangement when binding on company and creditors. Section 518 Power to apply to Court to have questions determined or powers exercised. Section 519 Application of liquidator to Court for public examination of promoters, directors, etc. Section 520 Costs of voluntary winding up. Section 522 Power to order winding up subject to supervision. Section 523 Effect of petition for winding up subject to supervision. Section 524 Power of Court to appoint or remove liquidators. Section 525 Powers and obligations of liquidator appointed by court. Section 526 Effect of supervision order. Section 527 Appointment in certain cases of voluntary liquidators to office of liquidators. Section 528 Debts of all descriptions to be admitted to proof. Section 529 Application of insolvency rules in winding up of insolvent companies. Section 529A Overriding preferential payments. Section 53 Service of documents on members by company. Section 530 Preferential payments. Section 531 Fraudulent preference. Section 531A Avoidance of voluntary transfer. Section 532 Transfers for benefit of all creditors to be void. Section 533 Liabilities and rights of certain fraudulently preferred persons. Section 534 Effect of floating charge. Section 535 Disclaimer of onerous property in case of a company which is being wound up. Section 536 Avoidance of transfers, etc., after commencement of winding up. Section 537 Avoidance of certain attachments, executions, etc., in winding up by or subject to supervision of Court. Section 538 Offences by officers of companies in liquidation. Section 539 Penalty for falsification of books. Section 54 Authentication of documents and proceedings. Section 540 Penalty for frauds by officers. Section 541 Liability where proper accounts not kept. Section 542 Liability for fraudulent conduct of business. Section 543 Power of Court to assess damages against delinquent directors, etc. Section 544 Liability under sections 542 and 543 to extend to partners or directors in firm or company. Section 545 Prosecution of delinquent officers and members of the company. Section 546 Liquidator to exercise certain powers subject to sanction. Section 547 Notification that a company is in liquidation. Section 548 Books and papers of company to be evidence. Section 549 Inspection of books and papers by creditors and contributories. Section 55 Dating of prospectus. Section 550 Disposal of books and papers of company. Section 551 Information as to pending liquidations. Section 552 Official Liquidator to make payments into the public account of India. Section 553 Voluntary liquidator to make payments into Scheduled Bank. Section 554 Liquidator not to pay moneys into private banking account. Section 555 Unpaid idends and undistributed assets to be paid into the Companies Liquidation Account. Section 556 Enforcement of duty of liquidator to make returns, etc. Section 557 Meetings to ascertain wishes of creditors or contributories. Section 558 Court or person before whom affidavit may be sworn. Section 559 Power of Court to declare dissolution of company void. Section 55A Powers of Securities and Exchange Board of India Section 56 Matters to be stated and reports to be set out in prospectus. Section 560 Power of Registrar to strike defunct company off register. Section 561 Application of Act to companies formed and registered under previous companies laws Section 562 Application of Act to companies registered but not formed under previous companies laws. Section 563 Application of Act to unlimited companies registered under previous companies laws. Section 564 Mode of transferring shares in the case of companies registered under Acts 19 of 1857 and 7 of 1860. Section 565 Companies capable of being registered. Section 566 Definition of "joint-stock company". Section 567 Requirements for registration of joint-stock companies. Section 568 Requirements for registration of companies not being joint-stock companies. Section 569 Authentication of statements of existing companies. Section 57 Expert to be unconnected with formation or management of company. Section 570 Power of Registrar to require evidence as to nature of company. Section 571 Notice to customers on registration of banking company with limited liability. Section 572 Change of name for purposes of registration. Section 573 Addition of "Limited" or "Private Limited" to name. Section 574 Certificate of registration of existing companies. Section 575 Vesting of property on registration. Section 576 Saving for existing liabilities. Section 577 Continuation of pending legal proceedings. Section 578 Effect of registration under Part. Section 579 Power to substitute memorandum and articles for deed of settlement. Section 58 Experts consent to issue of prospectus containing statement by him. Section 580 Power of Court to stay or restrain proceedings. Section 581 Suits stayed on winding up order. Section 582 Meaning of "unregistered company". Section 583 Winding up of unregistered companies. Section 584 Power to wind up foreign companies, although dissolved. Section 585 Contributories in winding up of unregistered company. Section 586 Power to stay or restrain proceedings. Section 587 Suits, etc., stayed on winding up order. Section 588 Directions as to property in certain cases. Section 589 Provisions of Part cumulative. Section 58A Deposits not to be invited without issuing an advertisement. Section 58AA Small depositors Section 58AAA Default in acceptance or refund of deposits to be cognizable Section 58B Provisions relating to prospectus to apply to advertisement. Section 59 Penalty and interpretation. Section 590 Saving and construction of enactments conferring power to wind up partnership, association or company in certain cases. Section 591 Application of sections 592 to 602 to foreign companies. Section 592 Documents, etc., to be delivered to Registrar by foreign companies carrying on business in India. Section 593 Return to be delivered to Registrar by foreign company where documents, etc., altered. Section 594 Accounts of foreign company. Section 595 Obligation to state name of foreign company, whether limited, and country where incorporated. Section 596 Service on foreign company. Section 597 Office where documents to be delivered. Section 598 Penalties. Section 599 Companys failure to comply with Part not to affect its liability under contracts, etc. Section 6 Meaning of " relative". Section 60 Registration of prospectus. Section 600 Registration of charges, appointment of receiver and books of account. Section 601 Fees for registration of documents under Part. Section 602 Interpretation of foregoing sections of Part. Section 603 Dating of prospectus and particulars to be contained therein. Section 604 Provisions as to experts consent and allotment. Section 605 Registration of prospectus. Section 605A Offer of Indian Depository Receipts Section 606 Penalty for contravention of sections 603, 604 and 605. Section 607 Civil liability for mis-statements in prospectus. Section 608 Interpretation of provisions as to prospectuses. Section 609 Registration offices. Section 60A Shelf Prospectus Section 60B Information memorandum Section 61 Terms of contract mentioned in prospectus or statement in lieu of prospectus, not to be varied. Section 610 Inspection, production and evidence of documents kept by Registrar. Section 610A Admissibility of micro films, facsimile copies of documents, computer printouts and documents on computer media as documents and as evidence. Section 611 Fees in Schedule-X to be paid. Section 612 Fees, etc., paid to Registrar and other officers to be accounted for to Central Government. Section 613 Power of Central Government to reduce fees, charges, etc. Section 614 Enforcement of duty of company to make returns, etc., to Registrar. Section 614A Power of Court trying offences under the Act to direct the filing of documents with Registrar. Section 615 Power of Central Government to direct companies to furnish information or statistics. Section 616 Application of Act to insurance, banking, electricity supply and other companies governed by special Acts. Section 617 Definition of "Government Company". Section 619 Application of sections 224 to 233 to Government companies. Section 619A Annual reports on Government companies. Section 619B Provisions of section 619 to apply to certain companies. Section 62 Civil liability for mis-statements in prospectus. Section 620 Power to modify Act in relation to Government companies. Section 620A Power to modify Act in its application to Nidhis, etc. Section 620B Special provisions as to companies in Goa, Daman and Diu. Section 620C Special provisions as to companies in Jammu and Kashmir. Section 621 Offences against Act to be cognizable only on complaint by Registrar, shareholder or Government. Section 621A Composition of certain offences. Section 622 Jurisdiction to try offences. Section 623 Certain offences triable summarily in Presidency towns. Section 624 Offences to be non-cognizable. Section 624A Power of Central Government to appoint company prosecutors. Section 624B Appeal against acquittal. Section 625 Payment of compensation in cases of frivolous or vexatious prosecution. Section 626 Application of fines. Section 627 Production and inspection of books where offence suspected. Section 628 Penalty for false statements. Section 629 Penalty for false evidence. Section 629A Penalty where no specific penalty is provided elsewhere in the Act. Section 63 Criminal liability for misstatements in prospectus. Section 630 Penalty for wrongful withholding of property. Section 631 Penalty for improper use of words "Limited" and "Private Limited". Section 632 Power to require limited company to give security for costs. Section 633 Power of Court to grant relief in certain cases. Section 634 Enforcement of orders of Courts. Section 634A Enforcement of orders of Company Law Board. Section 635 Enforcement of orders of one Court by other Courts. Section 635A Protection of acts done in good faith. Section 635AA Non-disclosure of information in certain cases. Section 635B Protection of employees during investigation by inspector or pendency of proceeding before Court in certain cases. Section 636 Reduction of fees, charges, etc., payable to company. Section 637 Delegation by Central Government of its powers and functions under Act. Section 637A Powers of Central Government or Company Law Board to accord approval, etc., subject to conditions and to prescribe fees on applications. Section 637AA Power of Central Government to fix a limit with regard to remuneration. Section 637B Condonation of delays in certain cases. Section 638 Annual report by Central Government. Section 64 Document containing offer of shares or debentures for sale to be deemed prospectus. Section 640 Validation of registration of firms as members of charitable and other companies. Section 640A Exclusion of time required in obtaining copies of orders of Court or the Company Law Board. Section 640B Forms of, and procedure in relation to certain applications. Section 641 Power to alter Schedules. Section 642 Power of Central Government to make rules. Section 643 Power of Supreme Court to make rules. Section 644 Repeal of Acts specified in Schedule XII. Section 645 Saving of orders, rules, etc., in force at commencement of Act. Section 646 Saving of operation of section 138 of Act 7 of 1913. Section 647 Saving of pending proceedings for winding up. Section 648 Saving of prosecutions instituted by liquidator or Court under section 237 of Act 7 of 1913. Section 649 Construction of references to former enactments in documents. Section 65 Interpretation of provisions relating to prospectuses. Section 651 Construction of references to extraordinary resolution in articles etc. Section 652 Appointment under previous companies laws to have effect as if made under Act. Section 653 Former registration offices continued. Section 654 Registers under previous companies laws to be deemed to be part of registers under Act. Section 655 Funds and accounts under Act to be in continuation of funds and accounts under previous companies laws. Section 656 Saving of incorporation under repealed Acts. Section 657 Saving of certain Tables under previous companies laws. Section 658 Section 6 of the General Clauses Act, 1897 (10 of 1897) to apply in addition to sections 645 to 657 of Act. Section 67 Construction of references to offering shares or debentures to the public, etc. Section 68 Penalty for fraudulently inducing persons to invest money. Section 68A Personation for acquisition, etc., of shares. Section 68B Initial offer of securities to be in dematerialised form in certain cases Section 69 Prohibition of allotment unless minimum subscription received. Section 7 Interpretation of " person in accordance with whose directions or instructions directors are accustomed to act ". Section 70 Prohibition of allotment in certain cases unless statement in lieu of prospectus delivered to Registrar. Section 71 Effect of irregular allotment. Section 72 Applications for, and allotment of, shares and debentures. Section 73 Allotment of shares and debentures to be dealt in on stock exchange. Section 74 Manner of reckoning fifth, eighth and tenth days in sections 72 and 73. Section 75 Return as to allotments. Section 76 Power to pay certain commissions and prohibition of payment of all other commissions, discounts, etc. Section 77 Restrictions on purchase by company, or loans by company for purchase, of its own or its holding companys shares. Section 77A Power of company to purchase its own securities. Section 77AA Transfer of certain sums to capital redemption reserve account. Section 77B Prohibition for buy-back in certain circumstances. Section 78 Application of premiums received on issue of shares. Section 79 Power to issue shares at a discount. Section 79A Issue of sweat equity shares Section 8 Power of Central Government to declare an establishment not to be a branch office.- Section 80 Power to issue redeemable preference shares. Section 80A Redemption of irredeemable preference shares, etc. Section 81 Further issue of capital. Section 82 Nature of shares. Section 83 Numbering of shares. Section 84 Certificate of shares. Section 85 Two kinds of share capital. Section 86 New issues of share capital to be only of two kinds. Section 87 Voting rights. Section 88 Prohibition of issue of shares with disproportionate rights. Section 89 Termination of disproportionately excessive voting rights in existing companies. Section 9 Act to override memorandum, articles, etc. Section 90 Savings. Section 91 Calls on shares of some class to be made on uniform basis. Section 92 Power of company to accept unpaid share capital, although not called up. Section 93 Payment of dividend in proportion to amount paid-up. Section 94 Power of limited company to alter its share capital. Section 94A Share capital to stand increased where an order is made under section 81(4). Section 95 Notice to Registrar of consolidation of share capital, conversion of shares into stock, etc. Section 96 Effect of conversion of shares into stock. Section 97 Notice of increase of share capital or of members. Section 98 Power of unlimited company to provide for reserve share capital on re-registration. Section 99 Reserve liability of limited company.
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