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The CA2013 has introduced new concept of class action suits with a view of making shareholders and other stakeholders, more informed and knowledgeable about their rights. 2. The CA2013 focused and provide ma or aspect on approvals from shareholders on various significant transactions. The !overnment has rightl" reduced the need for the companies to seek approvals to managerial remuneration and the shareholders have been vested with the power to sanction the limit. 3. The CA2013 stipulates appointment of at least one woman #irector on the $oard of the prescribed class of Companies so as to widen the talent pool enabling big Corporates to benefit from diversified backgrounds with different viewpoints. %. The CA2013 stipulates certain class of Companies to spend a certain amount of mone" ever" "ear on activities&initiatives reflecting Corporate 'ocial (esponsibilit". There ma" be difficulties in implementing in the initial "ears but this measure would help in improving the )nder*privileged + backward sections of 'ociet" and the Corporate would in fact gain in terms of their reputation and image in the 'ociet". ,. The CA2013 introduced -ational Compan" .aw Tribunal and the -ational Compan" .aw Appellate Tribunal to replace the Compan" .aw $oard and $oard for /ndustrial and 0inancial (econstruction. The" would relieve the Courts of their burden while simultaneousl" providing speciali1ed ustice. 2. The CA2013 proposes a fast track and simplified procedure for mergers and amalgamations of certain class of companies such as holding and subsidiar", and small companies after obtaining approval of the /ndian government. 3. The CA2013 permits cross border mergers, both wa"s4 a foreign compan" merging with an /ndia Compan" and vice versa but with prior permission of ($/. 5. The CA2013 prohibits directors and ke" managerial personnel from purchasing call and put options of shares of the compan", its holding compan" and its subsidiar" and associate companies as if such person is reasonabl" e6pected to have access to price*sensitive information 7being information which, if published, is likel" to affect the price of the compan"8s securities9. :arlier these provisions were contained in regulations framed b" ':$/, as the capital market regulator. -ow, it has also been informed that ':$/ is e6pected to discuss changes in certain norms for listed firms so as to make them in line with the rules in the new Act. ;. The CA 2013 increased the number of ma6imum shareholders in a private compan" from ,0 to 200. 10. The ma6imum number of persons&partners in an" association&partnership ma" be upto such number as ma" be prescribed but not e6ceeding one hundred. This restriction will not appl" to an association or partnership, constituted b" professionals like law"er, chartered accountants, compan" secretaries, etc. who are governed b" their special laws. )nder the CA1;,2, there was a limit of ma6imum 20 persons&partners and there was no e6emption granted to the professionals. 11. The CA2013 provides new form of private compan", i.e., one person compan" is introduced that ma" have onl" one director and one shareholder. The CA1;,2 re<uires minimum two shareholders and two directors in case of a private compan". 12. The CA2013 provides for entrenchment of articles of association have been introduced. 13. The CA2013 proposed :*!overnance for various compan" processes like maintenance and inspection of documents in electronic form, option of keeping of books of accounts in electronic form, financial statements to be placed on compan"8s website, etc.

1%. :ver" compan" shall have at least one director who has sta"ed in /ndia for a total period of not less than 152 7one hundred and eight" two9 da"s in the previous calendar "ear. 1,. The CA2013 provides that all listed companies should have at least one*third of the $oard as independent directors. 'uch other class or classes of public companies as ma" be prescribed b" the Central !overnment shall also be re<uired to appoint independent directors. -o independent director shall hold office for more than two consecutive terms of five "ears.