Central Law Agency Company Law by Dr N V Paranjape – 11th Edition 2022

Description

In the Eleventh Edition of this textbook on Company Law, an attempt has been made to encapsulate the major changes that have been introduced in the Companies Act, 2013 (18 of 2013), and amendments made therein by the Insolvency & Bankruptcy Code, 2016, notified on May 28, 2016, and the Companies (Amendment) Act, 2019 and 2020, which collectively provide better framework and a new landscape for the effective enforcement of the law relating to companies in India. The legal implications of the various changes and new concepts have been critically analyzed and their application has been dealt with in a pedantic and meticulous manner, along with relevant judicial pronouncements, so as to make the subject matter more student-friendly and fascinating.

The Companies Act, 2013, as amended by the Companies (Amendment) Act, 2019 and 2020, envisages significant changes with a view to streamline many of the requirements by introducing new concepts. The preceding Companies Act, 1956, necessitated substantial revamping in order to make the provisions of the Company Law enhanced in contemporary relevance, relevant and responsive not only to the corporates but also to the stakeholders and the regulators. The Companies Act, 2013, with amendments of 2020, seeks to ensure greater accountability, effective investor protection mechanism, e-governance and enforcement of corporate social responsibility to meet the challenges of intensely competitive global and domestic business environment and enormous pressure on business organizations to be responsive to the rapidly changing and evolving corporate culture.

The Companies Act, 2013, was amended by the Companies (Amendment) Act, 2015, which amended, in toto, twenty three sections of the Act. The amendments made in the Companies Act, by the Insolvency and Bankruptcy Code, 2016 by virtue of the Eleventh Schedule, provide for regulation of conduct of the corporate insolvency resolution process, liquidation process and bankruptcy process under the Company Law. The Code has been amended as many as thirty five sections and Schedule V of the Companies Act, 2013. The Companies Act, 2013, has been further amended by the Companies (Amendment) Act, 2019, which broadly aims at addressing difficulties in implementation owing to stringency of compliance requirements of the Act so as to facilitate ease of doing business, promote growth and rationalize punishments for different company offences by substituting penalty instead of jail term in as many as fifteen offences under the Act.

An earnest attempt has been put in to incorporate all the basic changes that have been introduced in the realm of Company Law and management in order to ensure that it serves as a useful reference book for the practicing lawyers, professional managers, policy makers, dynamic entrepreneurs as also the teachers and students of law and management.

A liberal use of material available on the subject and a number of standard books, journals and websites, have been referred to. An enormous degree of effort has gone into assimilating the text with a view to present it in a lucid yet orderly and compendious manner.

The author would like to thank Mr. Saahas Arora for meticulously doing the research work wherever required. The author would also like to express his gratitude to the publishers, M/s Central Law Agency, Allahabad, for their keen interest and dedication in publishing the book in an elegant form. All helpful suggestions for the further improvement of the book shall be cordially received

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