Monday, March 31, 2014

New Company Law Of India And Cyber Obligations

Corporate law firm Perry4Law has provided a list of provisions of the Companies Act, 2013 and the rules 2014 under it. These rules and relevant provisions have been notified by Indian government from time to time. They have become operations from today i.e. 01-04-2014 hence Indian companies are required to make necessary compliances with them in due course of time.

The new company law has prescribed many techno legal compliance requirements that were not there in the old law. Thus, cyber law due diligence cannot be ignored by Indian companies anymore. Even cyber security requirements have been prescribed by the new company law. Very soon cyber security breaches notification would become mandatory in India and this would raise serious cyber security issues for Indian companies. Corporate frauds investigations are also going to increase due to increasing cyber crimes and cyber contravention among Indian companies.

The new company law regime prescribes management and inspection of documents in electronic form, electronic voting, electronic notices, etc that require a techno legal compliance on the part of Indian companies.  Corporate stakeholders would find these notifications by Indian government worth considering in this regard:

(2) MCA Notification Dated 26-03-2014 (PDF) Regarding 183 Sections of Indian Companies Act 2013

(19) Nidhi Rules, 2014 (PDF)

This list would be updated from time to time by Perry4Law. Please bookmark this page so that you can have updated information about Indian Companies Act, 2013 and Rules/Notifications made thereunder form time to time.