Is notification of 98 clauses of Companies Ac, 2013 a progressive step or a legal Dilemma?
MCA on 12.09.2013 issued notification regarding applicability of 98 clauses of Companies Act, 2013 which does not contains the words "as provided in rules". Professional community has welcomed this step, but is this really a welcome step?
The application of these 98 clauses will be through rules only, so till rules are not passed its wasted moreover their counterpart from Companies Act, 1956 has not been repealed yet so is MCA expecting us to follow the contradicting provisions of both the Acts.
For example Section 174 of Companies Act, 1956 and Section 103 of Companies Act, 2013 talks about the same thing i.e. Quorum for General Meetings, however provisions of both the sections are different regarding quorum for public companies and both the provisions are in effect on today's date.

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