What is the comprehensive law governing corporate entities in India?

The comprehensive law governing corporate entities in India is the Companies Act, 2013. This legislation consolidates and updates the legal framework for companies operating in India, and it applies to all aspects of company formation, financing, governance, and dissolution. The Act introduces significant reforms aimed at improving corporate governance practices, enhancing transparency, and protecting the interests of shareholders and other stakeholders.

The Companies Act, 2013 also addresses various types of companies, such as private and public companies, and includes provisions for corporate social responsibility, management, and the rights of shareholders. It replaced the earlier Companies Act of 1956, modernizing and simplifying many procedures to promote ease of doing business in the country.

The other options, while related to specific aspects of business law, do not serve as the overarching legislative framework for corporate entities. The Indian Partnership Act, 1932, pertains specifically to partnerships and does not cover corporate entities like companies. Similarly, the Limited Liability Partnership Act, 2008, governs a particular type of partnership that allows for limited liability, but it is not comprehensive in the way the Companies Act is for companies. The Companies Act, 2000 does not exist in Indian legislation, as the major updates were encapsulated in the 2013