Companies Bill gets Approval, Assent from The President

Companies Bill has received the Honorable President’s Assent today, to become the Companies Act, 2013 (18 of 2013).

With this move, India has now got a new company law that has replaced the erstwhile Companies Act 1956.

The Corporate Affairs Ministry is expected to in the next few weeks come up with draft rules for public comments..

Query: From when will the new Companies Bill, 2012 passed recently in Rajya Sabha be applicable for CA Exams

Answer:

ICAI: Important Announcement

This is to bring to the notice of students that the Companies Bill, 2012 (to be enacted as the Companies Act, 2013) which was passed by the Lok Sabha on 18th December, 2012 and was pending before the Rajya Sabha, has been passed on 8th of August, 2013. This Companies Bill, 2012 will be enacted as the Companies Act, 2013 on receiving the assent of the President of India and notification in the Official Gazette, which will replace the existing statute, the Companies Act, 1956.

Thereafter, the decision regarding the applicability of the Companies Act, 2013 for CA Examination would be taken and informed to the students well in time before the May, 2014 Examination. 

In any case, it is clarified that the Companies Act, 2013 will NOT be applicable for November 2013 examination. 

      Director
Board of Studies