Here are the Key Points of Companies Act 2008
- One-person company allowed, more stringent regime for not-for-profit firms
- Restrictions on number of partners in partnership firms, banking firms relaxed
- Companies will not be able to raise deposits from public, except through Special Acts
- Consolidation of financial statements of subsidiaries with holding companies mandatory
- Class action suits by shareholder associations, groups against companies allowed
- Revised framework for regulation of insolvency, new Insolvency Fund
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