Companies Act 2013: Sections 121 to 180
Sections 121 to 180 of the Companies Act, 2013 cover important company-law subjects including annual general meeting reporting, dividends and the Investor Education and Protection Fund, company accounts and financial statements, audit and auditors, appointment and duties of directors, Board meetings, committees, Board powers and restrictions on those powers.
How to use this guide: Select the relevant section group below for the detailed provision. The statutory text should be read with applicable rules, notifications, exemptions and amendments in force for the company concerned.
General Meetings and Dividend: Sections 121-127
- What is Report on annual general meeting What is the Applicability of this Chapter to One Person Company What is Declaration of dividend How to keep Unpaid Dividend Account Section 121, 122, 123 and 124 of Indian Companies Act 2013
- What is Investor Education and Protection Fund Section 125 of Indian Companies Act 2013
- What is Right to dividend, rights shares and bonus shares to be held in abeyance pending registration of transfer of shares What is the Punishment for failure to distribute dividends Section 126 and 127 of Indian Companies Act 2013
Accounts of Companies: Sections 128-138
- What are the Books of account, etc, to be kept by company What is Financial statement Section 128 and 129 of Indian Companies Act 2013
- What is Re-opening of accounts on courts or Tribunals orders What is voluntary revision of financial statements or Boards report Section 130 and 131 of Indian Companies Act 2013
- What is Constitution of National Financial Reporting Authority Section 132 of Indian Companies Act 2013
- Central Government to prescribe accounting standards and Financial statement, Boards report, etc Section 133 and 134 of Indian Companies Act 2013
- What is Corporate Social Responsibility What is the Right of member to copies of audited financial statement Section 135 and 136 of Indian Companies Act 2013
- Copy of financial statement to be filed with Registrar, Internal audit of companies. Section 137 and 138 of Indian Companies Act 2013
Audit and Auditors: Sections 139-148
- Appointment of auditors Removal, resignation of auditor and giving of special notice. Section 139 and 140 of Indian Companies Act 2013
- What is the Eligibility, qualifications and disqualifications of auditors How to fix Remuneration of auditors Section 141 and 142 of Indian Companies Act 2013
- What are the Powers and duties of auditors and auditing standards Auditor not to render certain services. Section 143 and 144 of Indian Companies Act 2013
- Auditor to sign audit reports, etc, Auditors to attend general meeting, What is the punishment for contravention. Section 145, 146 and 147 of Indian Companies Act 2013
- Central Government to specify audit of items of cost in respect of certain companies. Section 148 of Indian Companies Act 2013
Appointment and Qualifications of Directors: Sections 149-172
- Company to have Board of Directors Manner of selection of independent directors and maintenance of databank of independent directors Section 149 and 150 of Indian Companies Act 2013
- What is Appointment of director elected by small shareholders What is Appointment of directors Section 151 and 152 of Indian Companies Act 2013
- Application for allotment of Director Identification Number, Allotment of Director Identification Number, Prohibition to obtain more than one Director Identification Number and Director to intimate Director Identification Number. Section 153, 154, 155 and 156 of Indian Companies Act 2013
- Company to inform Director Identification Number to Registrar, Obligation to indicate Director Identification Number and Punishment for contravention. Section 157, 158 and 159 of Indian Companies Act 2013
- What is Right of persons other than retiring directors to stand for directorship What is Appointment of additional director, alternate director and nominee director Section 160 and 161 of Indian Companies Act 2013
- Should appointment of directors to be voted individually What is option to adopt principle of proportional representation for appointment of directors Section 162 and 163 of Indian Companies Act 2013
- What are the disqualifications for appointment of director What is the maximum Number of directorships Section 164 and 165 of Indian Companies Act 2013
- What are the duties of directors What is vacation of office of director Section 166 and 167 of Indian Companies Act 2013
- Resignation of director and Removal of directors. Section 168 and 169 of Indian Companies Act 2013
- Register of directors and key managerial personnel and their shareholding, What is Members right to inspect What is Punishment Section 170, 171 and 172 of Indian Companies Act 2013
Meetings of Board and its Powers: Sections 173-180
- What are the Meetings of Board What is Quorum for meetings of Board Section 173 and 174 of Indian Companies Act 2013
- What is Passing of resolution by circulation Defects in appointment of directors not to invalidate actions taken, What is Audit Committee Section 175, 176 and 177 of Indian Companies Act 2013
- What is Nomination and Remuneration Committee and Stakeholders Relationship Committee Section 178 of Indian Companies Act 2013
- What is Powers of Board What are the Restrictions on powers of Board Section 179 and 180 of Indian Companies Act 2013
Official law and regulatory resources
For the current statutory text, amendments, rules, notifications and company filing services, verify the provision through the official Government resources linked in the sidebar.