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A Comparative Study of Indian Companies Act, 2013 and Companies Act of Republic of Maldives, 1996

Rajesh Kumar Agrawal
DOI: http://dx.doi.org/10.21013/jmss.v4.n1.p9
Abstract

Any law in force in a country indicates its social, economic and political position. Law is considered to be the measure by which a country’s progress is taken into account. India has adopted Companies Act, 2013 in place of the Companies Act, 1956 considering the changing needs of the society and to facilitate the ease of business. The Companies Act of the Republic of Maldives 1996 governs the formation, registration and management of companies in the Republic of Maldives. In this paper, an attempt is made to bring out the comparative picture of India and Maldives with regard to Indian Companies Act, 2013 and The Companies Act of the Republic of Maldives 1996 respectively. This paper throws some light on the framework of The Companies Act of the Republic of Maldives 1996 and Indian companies Act 2013 and the rapid challenges faced by both the countries and also to understand the basic difference in various concepts and application of the act in both the countries. The finding of the study shows that India has got verge in terms of adoption of Corporate Laws and Corporate Governance compliances and also has wider provisions than the Maldives Companies Act, 1996.

Keywords
Incorporation, One Person Company, Meetings, Directors, Company Secretary, Corporate Social Responsibility, Woman Director, Compromise, Arrangements and Amalgamation
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