Important Definations Under Companies Act, 2013
Under Section 2 of the Companies Act, 2013 In this Act, unless the context otherwise requires - (1) “abridged prospectus” means a memorandum containing such salient features of a prospectus as may be specified by the Securities and Exchange Board by making regulations in this behalf; (2) “accounting standards” means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133; Section 133 reads The Central Government may prescribe the standards of accounting or any addendum thereto, as recommended by the Institute of Chartered Accountants of India, constituted under section 3 of the Chartered Accountants Act, 1949, in consultation with and after examination of the recommendations made by the National Financial Reporting Authority. Provided that until the National Financial Reporting Authority is constituted under section 132 of the Companies Act, 2013 (18 of 2013), the Central Government may prescribe the sta...