The new Companies Act (hereinafter referred as CA2013) is replacing old Companies Act, 1956 (hereinafter referred as CA1956)

The CA2013 is partiall! made effecti"e w e f 12 th #eptem$er, 2013, $! wa! of implementing 9% #ections and repealing the rele"ant sections corresponded with CA1956 #ome of the #alient feat&res of the CA2013 are as &nder'

. Under Right to Information Act, the Housing Society can procure all the Plans and the related documentary evidences from MC M duly attested !y t"o Senior #ngineers of the $uilding Proposals %ept. to study the anomalies "hich e&ist in e&ecution of the entire redevelopment pro'ect even after the occupancy certificate is issued

(. )he CA*+(, proposes a fast trac- and simplified procedure for mergers and amalgamations of certain class of companies such as holding and su!sidiary, and small companies after o!taining approval of the Indian government. *. )he CA*+(, prohi!its directors and -ey managerial personnel from purchasing call and put options of shares of the company, its holding company and its su!sidiary and associate companies as if such person is reasona!ly e&pected to have access to price. sensitive information /!eing information "hich, if pu!lished, is li-ely to affect the price of the company0s securities1. #arlier these provisions "ere contained in regulations framed !y S#$I, as the capital mar-et regulator. 2o", it has also !een informed that S#$I is e&pected to discuss changes in certain norms for listed firms so as to ma-e them in line "ith the rules in the ne" Act. ,. )he CA *+(, increased the num!er of ma&imum shareholders in a private company from 3+ to *++. 4. )he CA*+(, permits cross !order mergers, !oth "ays5 a foreign company merging "ith an India Company and vice versa !ut "ith prior permission of R$I. 3.