Section 92 of the Companies Act: Outdated, Inefficient, and In Need of Reform
company cuet_pg beginner reform_ideaKhair, let's talk about Section 92 of the Companies Act, 2013. This provision states that every company must file a return of its allotment of shares with the Registrar of Companies within a period of thirty days. The problem is, in this digital age, this provision makes no sense. With the advent of technology, most companies are now able to file their documents electronically within a day or two. However, they are still stuck with this archaic provision which requires them to spend valuable time and resources on manual filing.
Why is this provision important? It's not. The Companies Act needs to be updated to reflect the changing times. Our law needs to be more efficient, more effective, and more technology-friendly. The current provision is just a relic of the old days and does not serve any purpose in today's business landscape.
Maine socha hai ki Section 92 of Companies Act bahut zaroori hai, lekin reform ka zaroorat hai. Yeh adalat ki tareekh aur karyavahi ko nischit karne ke liye design ki gai thi. Lekin ab isme kai samasyayein aane lag rahe hain, jaise ki adalat ki gati mein kamai aur vyavasthaa ki samasya.