Which government act was introduced in 2013 to regulate companies?

Study for the CA Foundation Business Law Exam. Practice with multiple-choice questions, review detailed explanations, and ace your exam!

The Companies Act 2013 was specifically introduced to regulate companies in India, replacing the earlier Companies Act of 1956. This new framework aimed to enhance corporate governance, promote transparency, and ensure accountability in the management of companies. The 2013 Act introduced several significant changes, including the provisions for the incorporation of companies, the roles and responsibilities of corporate directors, the regulatory framework for mergers and acquisitions, and stricter compliance requirements.

This act is pivotal for maintaining the integrity of the corporate sector and protecting the interests of stakeholders, including investors, employees, and the general public. Its introduction marked a significant shift towards more robust regulations and frameworks, reflecting the changing dynamics of the business environment.

Other options mention acts that either do not exist or do not pertain to the regulation of companies, which clearly distinguishes the Companies Act 2013 as the appropriate choice.

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