Section 1 of CA 2013 : Section 1: Short Title, Extent, Commencement And Application

Explanation using Example

Imagine a scenario where a group of entrepreneurs decide to start a technology company in India. They incorporate their company, 'Tech Innovations Private Limited', under the Companies Act, 2013. As soon as their company is legally recognized, it becomes subject to the rules and regulations outlined in the Companies Act, 2013.

The Act applies to the whole of India, so regardless of whether 'Tech Innovations Private Limited' is registered in Mumbai, Bengaluru, or any other city, the provisions of the Act will govern its operations.

One day, the Central Government issues a notification in the Official Gazette that a new provision regarding corporate social responsibility (CSR) is coming into force. 'Tech Innovations Private Limited' must now comply with this new provision from the date specified in the notification.

Furthermore, if 'Tech Innovations Private Limited' later diversifies into the insurance sector, the company will have to ensure that its operations are consistent with both the Companies Act, 2013, and the Insurance Act, 1938, as well as any regulations by the Insurance Regulatory and Development Authority.