?What is the purpose of the Companies Act 2013 in India, and how does it impact businesses

The Companies Act 2013 is a comprehensive legal framework in India that regulates the incorporation, management, and governance of companies. It aims to enhance corporate governance, protect the interests of shareholders, and promote transparency and accountability in business operations. It impacts businesses by setting rules for company formation, corporate governance, financial reporting, and compliance, ensuring that companies operate ethically and responsibly.

?What are some key provisions of the Companies Act 2013 related to corporate social responsibility (CSR), and how do they encourage companies to contribute to society

he Companies Act 2013 mandates that certain companies meet CSR spending requirements, allocating a percentage of their profits for social and environmental initiatives. Key provisions include defining CSR activities, specifying eligible organizations, and reporting CSR activities in annual reports. These provisions encourage companies to actively participate in social development, philanthropy, and sustainable practices, thereby contributing positively to society while fulfilling their legal obligations.

companies act 2013 for beginners

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Lessons | 8