Amended and updated notes on section 393 of Companies Act 2013. Detail discussion on provisions and rules related to company’s failure to comply with provisions of this Chapter not to affect validity of contracts, etc..
Chapter XXII (Section 379–393) of the Companies Act, 2013 (CA 2013) deals with the provisions related to companies incorporated outside India. Section 393 of CA 2013 provides for company’s failure to comply with provisions of this Chapter not to affect validity of contracts, etc..
Recently, we have discussed in detail section 392 (Punishment for contravention) of CA 2013. Today, we learn the provisions of section 393 of the Companies Act 2013.
The provisions of section 393 are effective from 1st April, 2014. You may refer Notification No. S.O. 902(E) issued dated 27-03-2014. In this article, you will learn detail of the provisions of section 393 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXII |
| Chapter Name | Accounts of Companies |
| Section No. | 393 |
| Section Name | Company’s failure to comply with provisions of this Chapter not to affect validity of contracts, etc. |
| Monthly Updated Edition | Company Law PDF |
Section 393 of Companies Act 2013: Company’s failure to comply with provisions of this Chapter not to affect validity of contracts, etc.
Section 393 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.
Any failure by a company to comply with the provisions of this Chapter shall not affect the validity of any contract, dealing or transaction entered into by the company or its liability to be sued in respect thereof, but the company shall not be entitled to bring any suit, claim any set-off, make any counter-claim or institute any legal proceeding in respect of any such contract, dealing or transaction, until the company has complied with the provisions of this Act applicable to it.