Updating package with Bower
You have to upgrade to latest version of Bower: npm update -g bower
bower-angular 1.0.6 switched from component.json to bower.json which is only supported in Bower >=0.9.0
For some reason npm update -g bower did not work for me.
I installed npm-update-packages module with $ npm install -g npm-update-packages and then checked for any package-updates in my bower.json file with $ ncu -m bower. The updates were displayed in the console. Then, I executed $ ncu -m bower -u which updated all packages in bower.json that required an update.
For more information on this package:https://github.com/tjunnone/npm-check-updates
Hope this helps. Thanks.