Growth and History of Company Law in India-

TANMOY MUKHERJI INSTITUTE OF JURIDICAL SCIENCE

Dr. Tanmoy Mukherji

Advocate

Growth and History of Company Law in India-

Tanmoy Mukherji

Advocate

The development of Company Law in India is closely linked with the British colonial rule, industrial growth, and post-independence economic reforms. It evolved from simple registration laws to a comprehensive corporate governance framework.

British period-

Company Law in India was initially based entirely on English Company Law.

Post Independent Development -

After 1947 India needed a modern corporate Law suited to a planned development.

The 1956 Act Governed Indian Corporate law for nearly 60 years.

Liberalisation Era (After 1991)-

Companies Act 2013 -

The Companies Act 2013 replaced the 1956 Act.

Features:

→Enhanced disclosure and governs norms.

→Fast track Merger

→National Co. Law Tribunal

→Class action suits

→Independent Directors

→One person company

→Corporate Social Responsibility (Sec-135).

Related Modern Legislation -

→Insolvency and Bankruptcy Code

→Strengthen Corporate insolvency and restructuring process.

Judicial Development-

→The Supreme court and High Courts shaped company Law Principles

→Land mark English case influencing India -

 Salomon vs Salomon and Co. Ltd - Established doctrine of separate legal Entity.

→Indian Courts adopted and expanded this doctrine.

Present Trends in Indian Company Law-

→Digital Incorporation

→De Criminalisation of minor offences.

→Corporate Governance and norms.

→Strengthened insolvency framework.

→Ease of doing business reforms.

Today Indian company Law Balances:

 →Economic Growth

→Investor Protection

→ Corporate accountability.

 →Social Responsibility.