Abstract
With the ever-changing business environment the way in which business firms are supposed to work also changes. No nation can avoid the change in the corporate culture that comes as an external force due to the rapid linkage of various economies & their corporate entities & that not only provide ample of opportunities but poses a lot of challenges especially on the governance front. With this changing environment it is in the best interest of the country to keep on incorporating various governance aspects arising in terms of challenges due to changes taking place in corporate arena. This paper is therefore an attempt to understand such the changing corporate laws in India by comparing the two major companies act i.e. Companies Act 1956 & the recently introduced Companies Act 2013.
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