PDF · The Companies Act, 2013
Companies Act 2013 Notes for CA Foundation Business Laws, Chapter 6
- Shared by
- Kreesha
- Course
- CA Foundation
- Subject
- Business Laws
- Added
- 26 Oct 2026
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These detailed notes cover Chapter 6 of CA Foundation Business Laws on The Companies Act, 2013. The early pages introduce the Act, its objectives and its applicability, then move into the meaning and features of a company, including separate legal entity, perpetual succession and limited liability. The notes use key case laws such as Macaura v. Northern Assurance Co. Ltd. and Salomon v. Salomon & Co. Ltd. to explain the corporate veil. They suit CA Foundation students who want a colour-coded, exam-focused revision aid for this chapter.
What the notes cover
The notes explain the statutory definition of a company under Section 2(20) and the core features that exam questions test: separate legal entity, perpetual succession, limited liability and artificial legal person. Each feature is shown with its meaning and consequences. Two case laws are highlighted, Macaura and Salomon, with the facts and principles they establish. The chapter map at the start lists the full sequence, from incorporation and share capital to the MOA, AOA, ultra vires and indoor management.
How to use them for revision
Blue headings mark main concepts and provisions, yellow boxes flag must-remember rules, and pink boxes point out exceptions and common confusions. Flowcharts are included for practice, so you can redraw them from memory. Start with the keyword line at the end of each part to test recall, then attempt the case law questions aloud. Pay special attention to the situations in which the corporate veil may be lifted, as these come up often in theory answers.
Who should read them
These notes are useful for CA Foundation candidates preparing Business Laws, especially those working through the Companies Act, 2013 for the first time. They are also helpful for quick revision before the exam, since each topic is summarised in tables and short points. Students who find company law concepts abstract will benefit from the case-based explanations and the separate legal entity examples.
Key topics in these notes
- Definition of company under Section 2(20)
- Separate legal entity and its consequences
- Perpetual succession
- Limited liability
- Macaura v. Northern Assurance Co. Ltd.
- Salomon v. Salomon & Co. Ltd.
- Doctrine of corporate veil
- Applicability of the Companies Act 2013
Related notes
Frequently asked questions
What is the definition of a company under the Companies Act 2013?
Section 2(20) defines a company as one incorporated under this Act or under any previous company law. The notes also cover related descriptions of a company as an artificial person with a separate entity.
What is the Salomon case about?
Salomon v. Salomon & Co. Ltd. affirmed that a company is a person distinct from its subscribers, so the same people running the business are not automatically its agent or trustee.
What is the corporate veil in company law?
The corporate veil is the legal separation between a company and its members. The notes explain the situations in which courts may look behind it to examine the people controlling the company.
Which topics does Chapter 6 of CA Foundation Business Laws cover?
The chapter covers company features, corporate veil, classes of companies, incorporation, share capital, MOA, AOA, ultra vires and indoor management.
How can I get the full notes?
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