What is the significance of India's 2013 Companies Act?

The Companies Act, 2013, updates the information that must be included in the statement of repatriation of profits from a foreign company.  Additionally, the Act affects the statement of transfer of funds and the information that it should include.  The statement of transfer of funds refers to any funds that are transferred between a foreign company’s operation in India, and any related party outside of India, whether it is the holding company, a subsidiary, or an associate company.