What legislation governs corporate entities in India?

The Companies Act, 2013 serves as the main legislative framework that governs corporate entities in India. This comprehensive law covers various aspects related to the incorporation, responsibilities, and governance of companies, including their administrative regulations, management structure, and compliance requirements. It also outlines the rights and duties of shareholders and directors, and it provides mechanisms for the resolution of disputes, financial disclosures, and more.

The Companies Act, 2013 replaced the earlier Companies Act, 1956, and introduced significant reforms aimed at enhancing corporate governance and protecting stakeholder interests. It is crucial for anyone involved in corporate matters in India to understand this legislation, as it lays down the principles and regulations that define how companies operate legally within the country.

The other options do not serve as the primary legislation governing corporate entities. For instance, the Insolvency and Bankruptcy Code, 2016 focuses specifically on insolvency and bankruptcy processes, while the Department of Corporate Affairs Act pertains to the administrative framework overseeing corporate compliance rather than the governance itself. The Public Sector Enterprises Act primarily addresses public sector undertakings and does not encompass the full spectrum of corporate entities in India.