This book has had a consistent record of success and popularity over the last forty-one years. The new edition is thoroughly revised and updated and incorporates changes introduced in the statute law as also the significant developments in case-law. The Companies Act was amended twice earlier to the present edition. One of the Amendment Acts brought into the Companies Act a huge new part on producer companies. The Second Amendment Act, 2002 apart from making other changes, also brought in a new part providing for Revival and Rehabilitation of Sick Industrial Companies. The Amendment of 2006 has added a few provisions to bring about the requirement that all directors, existing or proposed, should obtain an identification number. The Amendment also enables filing and inspection of documents through electronic media. There have been significant developments in the judicial front also which have been discussed by the author analytically and incorporated at the respective place in the book. This very popular work has been the prescribed textbook in almost all law colleges in India through its several editions. Company executives, chartered accountants and company secretaries find it extremely useful in their day to day work. It is also beneficial to the legal profession and students of CA, CS, ICWA and other professional courses. This most lucid text deserves a place in all the law libraries.