the company act, 2021

The Company Act, 2021 was introduced in 2021 for making new provisions to establish, run and winding up of companies whether public or private as the need of business sector. It was modern and clear Act in relation to the previous company law. It had 152 Sections, 13 chapters and 1 schedule. The Act was amended eight times till the time of repeal. The Act was formulated on the basis of doctrines of incorporated company, limited liability, legal personality, perpetual succession and autonomy of company. It had made the provisions of private company, public company, governmental company and foreign company. It had comprised the several provisions relating to incorporation of company, share and debenture, meetings, managing agent, account keeping of company, auditing and winding up of company etc. It was repealed by the Company Act. 2053.