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Company Law is basically the governing rules and regulations that contain the mechanism regarding organizational, financial, and managerial, all the relevant aspects of a company.
In India, the Companies Act, 1956, 2013 is the most important piece of legislation that empowers the Central Government to regulate the formation, financing, functioning and winding up of companies. It is applicable to every company incorporated in India.
The Companies Act, 2013 has been notified in the Official Gazette on 30th August, 2013. Some of the provisions of the Act have been implemented by a notification published on 12th September, 2013. The provisions of Companies Act, 1956 is still in force. The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules. The Act has replaced The Companies Act, 1956 (in a partial manner) after receiving the assent of the President of India on 29 August 2013.
Company law contains provisions relating to registration/incorporation, management, structuring, financing. All these provisions which governs a company is contain in Memorandum of Association and Article of Association of the Company which is framed keeping in uniformity with the sections and provisions defined in Companies Act.