Corporate Law Reform In India: Rethinking The Doctrines Of Constructive Notice And Indoor Management
- IJLLR Journal
- Feb 14
- 1 min read
Harini D, O.P. Jindal Global University, Sonipat, Haryana
ABSTRACT
Law is never static; it is dynamic and constantly evolving, responding to the demands and shifts of society. The same can be inferred from the way company law has developed over time. The laws and rules governing company law have been updated and modernized multiple times over the years in response to changing needs and times. In India, the old Companies Act of 1956 was substituted by the Companies Act of 2013 to meet the needs of a modern economy. In an effort to align Indian company law with international best practices in corporate governance and regulation, this Act introduced a number of changes. Given the significance and importance of these reforms, it is critical that they go beyond codified law and incorporate the various doctrines that are important in the field of corporate law. This paper examines two such significant doctrines: the Doctrine of Constructive Notice and the Doctrine of Indoor Management, with the goal of observing how judicial inclination toward the doctrine of indoor management has considerably reduced the significance of constructive notice over time. The purpose of this paper is to assess whether corporate law reforms in India should focus on abolishing the doctrine of constructive notice entirely while strengthening the doctrine of indoor management, and what the consequences of such reforms would be.
Keywords: Constructive Notice, Indoor Management, Judicial Inclination, Corporate Governance, Reforms
