replacing the old law.
* As per the new norm, it is mandatory for every company to pass a special resolution (get approval from 75% shareholders) if it wants to sell, lease or dispose of any undertakings in which its investments exceed 20% of its net worth. Under the corresponding provision in the Companies Act, 1956, private companies were exempt from the requirement — an ordinary resolution sufficed
* Section 180 of the Companies Act, 2013 (restriction on the powers of the board) is now applicable to every company whereas the corresponding Section 293 of the Companies Act, 1956 was not applicable to private companies
* The definition of a foreign company as per the new Act is yet to be notified, leaving problems of interpretation between the old and the new law. Similarly, the Section on fraud is notified, but several provisions are yet to be notified
* In fact, the entire 1956 Act continues to remain in full force and effect along with 98 Sections of the new Act