It is inevitable that 'dynamic environment demands
constant changes'. One of such change had been made in the
Companies Act notifying the Companies Act, 2013 on 30.08.2013.
Although, the Companies Act, 2013 was notified on 30th August 2013,
but Section 1 (3) of Companies Act 2013 (hereinafter referred to as
2013 Act) empowered Central government to notify the Sections and
bring out the provisions in tranches, at their discretion. And
until the Sections are notified, the provisions of Companies Act
1956 were directed to be followed. The 2013 Act contains 470
Sections along with VII schedules. Although the 2013 Act contains
less number of Sections, but the rules attached to these Sections
makes it comparatively lengthier as compared to the Companies Act
1956. As of now 183 Sections have been notified which majorly
includes provisions related to Incorporation, meetings, books of
accounts, Buy back, share capital, auditors etc.
