1. Overview of the Companies Act, 2013 & Statutory Authority
The Companies Act, 2013 serves as the primary legislation governing the incorporation, regulation, governance, and dissolution of commercial entities in the Republic of India. Administered by the Ministry of Corporate Affairs (MCA) through the offices of the Registrar of Companies (ROC), the Act provides a rigorous codified taxonomy of statutory terms under Section 2.
In addition to legal definitions, the Ministry of Corporate Affairs maintains the Corporate Data Management (MCA CDM) framework, which maps these statutory definitions directly into structured digital registries, filing schemas (MCA21), and XBRL financial statement taxonomies.
2. Classification of Corporate Entities
Company • Section 2(20)
A company means a company incorporated under this Act or under any previous company law (such as the Companies Act, 1956 or earlier provincial ordinances).
Private Company • Section 2(68)
A company having a minimum paid-up share capital as may be prescribed, and which by its Articles of Association: (i) restricts the right to transfer its shares; (ii) limits the number of its members to two hundred (excluding current and former employee-members); and (iii) prohibits any invitation to the public to subscribe for any securities of the company. Joint shareholding is treated as a single membership.
Public Company • Section 2(71)
A company which is not a private company, and has a minimum paid-up share capital as may be prescribed. Crucially, a private company that is a subsidiary of a public company is deemed to be a public company for statutory purposes, even if it retains private company provisions in its articles.
Listed Company • Section 2(52)
A company which has any of its securities listed on any recognized stock exchange (such as NSE or BSE), subjecting it to SEBI (LODR) Regulations and heightened quarterly disclosure mandates.
Foreign Company • Section 2(42)
Any company or body corporate incorporated outside India which: (a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and (b) conducts any business activity in India in any other manner. Registered with MCA under a unique Foreign Company Registration Number (FCRN).
One Person Company (OPC) • Section 2(62)
A company which has only one person as a member, introduced by the 2013 Act to promote individual entrepreneurship with limited liability protections.
Small Company • Section 2(85)
A company, other than a public company, whose paid-up share capital does not exceed fifty lakh rupees (or such prescribed amount up to ten crore rupees, currently notified at four crore rupees), and whose turnover for the preceding fiscal year does not exceed two crore rupees (or such prescribed amount up to one hundred crore rupees, currently notified at forty crore rupees). Does not apply to holding/subsidiary companies, Section 8 companies, or entities governed by special Acts.
Unlimited Company • Section 2(92)
A company not having any limit on the liability of its members, meaning shareholders are personally liable for the full extent of company debts upon winding up.
Associate Company • Section 2(6)
In relation to another company, means a company in which that other company has significant influence, but which is not a subsidiary company, and includes a joint venture company. Significant influence is defined as control of at least 20 percent of total voting power or participation in business decisions under an agreement.
Subsidiary Company or Subsidiary • Section 2(87)
In relation to any other company (the holding company), means a company in which the holding company controls the composition of the Board of Directors, or exercises/controls more than one-half of the total voting power either on its own or together with one or more of its subsidiary companies. Restrictions apply to layers of subsidiaries beyond prescribed thresholds.
Body Corporate or Corporation • Section 2(11)
Includes a company incorporated outside India, but does not include: (i) a co-operative society registered under any law relating to co-operative societies; and (ii) any other body corporate specified by the Central Government by notification.
3. Governance, Board of Directors & Executive Management
Board of Directors or Board • Section 2(10)
The collective body of the directors of the company entrusted with corporate stewardship, governance oversight, and statutory fiduciary compliance.
Director • Section 2(34)
A director appointed to the Board of a company, identified in the national register via an 8-digit Director Identification Number (DIN).
Managing Director • Section 2(54)
A director who, by virtue of the articles of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of the affairs of the company.
Whole-Time Director • Section 2(94)
Includes a director in the whole-time employment of the company, exercising day-to-day administrative or functional management responsibilities.
Independent Director • Section 2(47)
An independent director referred to in Section 149(6), who possesses integrity and relevant expertise, and has no material pecuniary relationship with the company, its holding, subsidiary, or associate company, or their promoters/directors.
Chief Executive Officer (CEO) • Section 2(18)
An officer of a company who has been designated as such by it, responsible for organizational leadership and operations.
Chief Financial Officer (CFO) • Section 2(19)
A person appointed as the Chief Financial Officer of a company, responsible for financial management, reporting integrity, and statutory accounts certification.
Key Managerial Personnel (KMP) • Section 2(51)
In relation to a company, means: (i) the Chief Executive Officer or Managing Director or Manager; (ii) the Company Secretary; (iii) the Whole-Time Director; (iv) the Chief Financial Officer; (v) such other officer, not more than one level below the directors who is in whole-time employment; and (vi) such other officer as may be prescribed.
Promoter • Section 2(69)
A person: (a) who has been named as such in a prospectus or is identified by the company in the annual return referred to in Section 92 (Form MGT-7); or (b) who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise; or (c) in accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to act (excluding professional advisors).
Officer Who Is In Default • Section 2(60)
For the purpose of any provision in this Act which enacts that an officer of the company who is in default shall be liable to any penalty or punishment: includes whole-time directors, KMPs, directors who consented to or were aware of contraventions, share transfer agents, and designated officers.
4. Constitutional Charters & Statutory Records
Memorandum of Association (MOA) • Section 2(56)
The memorandum of association of a company as originally framed or as altered from time to time in pursuance of any previous company law or of this Act. Defines the company's name, registered office state, objects of business, liability clause, and authorized share capital.
Articles of Association (AOA) • Section 2(5)
The articles of association of a company as originally framed or as altered from time to time or applied in pursuance of any previous company law or of this Act. Establishes internal governance bylaws, director appointment procedures, share transfer rules, and meeting conduct.
Books of Account • Section 2(13)
Includes records maintained in respect of: (i) all sums of money received and expended by a company and matters in relation to which receipts/expenditures take place; (ii) all sales and purchases of goods and services; (iii) the assets and liabilities of the company; and (iv) cost accounting items prescribed under Section 148.
Financial Year • Section 2(41)
In relation to any company or body corporate, means the period ending on the 31st day of March every year. For companies incorporated on or after the 1st day of January of a year, it means the period ending on the 31st day of March of the following year. Holding, subsidiary, or associate companies of foreign entities may petition the NCLT for an alternate accounting period to align global accounts consolidation.
5. Capital Structure, Net Worth & Regulatory Institutions
Paid-Up Share Capital • Section 2(64)
Such aggregate amount of money credited as paid-up as is equivalent to the amount received as paid-up in respect of shares issued, including amounts credited as paid-up, but excluding any other amounts received in respect of such shares.
Net Worth • Section 2(57)
The aggregate value of the paid-up share capital and all reserves created out of profits and securities premium account and debit/credit balance of profit and loss account, after deducting accumulated losses, deferred expenditure, and miscellaneous expenditure not written off, per the audited balance sheet. Excludes reserves created from asset revaluation, write-back of depreciation, and amalgamation.
Financial Institution • Section 2(39)
Includes scheduled commercial banks, and any other financial institution defined or notified under the Reserve Bank of India Act, 1934 (2 of 1934).
Securities and Exchange Board of India (SEBI) • Section 2(82)
The market regulatory body established under Section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), overseeing capital markets, listed company disclosures, and investor protection.
Tribunal (NCLT) • Section 2(90)
The National Company Law Tribunal constituted under Section 408 of the Companies Act, 2013, having quasi-judicial jurisdiction over corporate disputes, insolvency (IBC), capital reductions, amalgamations, and company restorations.
Previous Company Law • Section 2(67)
Any former Indian company law, including the Acts of 1866, 1882, 1913, 1942, and the Companies Act, 1956 (1 of 1956), under which older existing companies were incorporated.
6. Official MCA Corporate Data Management (CDM) Metadata Taxonomy
To enable public transparency and automated data consumption under the National Data Sharing and Accessibility Policy (NDSAP), the Ministry of Corporate Affairs publishes standardized metadata definitions and financial statement taxonomies:
- MCA CDM Metadata Specification: Available at mcacdm.nic.in/docs/metadata.pdf. Defines field names, schemas, data types, and primary sources across MCA21.
- MCA Financial Taxonomy (Ind AS / Schedule III): Available at mcacdm.nic.in/docs/metadata_taxonomy_final.pdf. A 55-page comprehensive taxonomy governing Balance Sheet, P&L, Cash Flow, and financial note elements.
- MCA Statutory Definitions Source Article: Available at mcacdm.nic.in/docs/Definitions_Article.pdf. Official legal glossary published by MCA.
| Field Name | Type | Source / Form | Statutory Description & Standards |
|---|---|---|---|
| CIN | Alphanumeric (21) | MCA21 Incorporation | Unique 21-character corporate identifier encoding listing status (L/U), NIC 5-digit industry code, 2-letter state code, 4-digit incorporation year, company classification (PTC, PLC, OPC, FTC), and 6-digit ROC serial. |
| FCRN | Alphanumeric (6) | Form FC-1 | Foreign Company Registration Number assigned to bodies corporate incorporated outside India having an active place of business in India under Section 2(42). |
| Authorized Capital | Numeric / Decimal | SPICe+ / SH-7 / MOA | The nominal capital authorized in the company's Memorandum of Association, representing the maximum ceiling of share capital the company is legally permitted to issue. |
| Issued Capital | Numeric / Decimal | PAS-3 / MGT-7 | Monetary value of the shares of stock a company actually offers for sale to investors. Must not exceed authorized capital. |
| Subscribed Capital | Numeric / Decimal | SPICe+ / MGT-7 | Total value of shares investors have committed to purchase, reflecting shareholder backing prior to full realization. |
| Paid-Up Capital | Numeric / Decimal | AOC-4 / PAS-3 | Actual amount received from shareholders against subscribed shares under Section 2(64). Directly indicates the realized equity base. |
| Source SRN Number | Alphanumeric | MCA eForms | Service Request Number generated by MCA21 for tracking individual statutory filings through regulatory processing. |
| Company Status | Text (100) | MCA Master Register | Operational legal standing: Active, Strike Off, Under Process of Strike Off, Amalgamated, Dissolved, or Dormant under Section 455. |
| DS_Active_Flag | Text (Y/N) | Derived / MCA21 | Flag indicating whether digital signature certificates (DSC) of active management signatories are currently valid for electronic filings. |