[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY,
PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE
AFFAIRS
NOTIFICATION
New Delhi, the 5th
June, 2015
G.S.R.__
(E). – In exercise of the powers
conferred by clauses (a) and (b) of sub-section (1) of section 462 and
in pursuance of sub-section (2) of said section of the Companies Act, 2013 (18
of 2013), the Central Government, in the interest of public, hereby
directs that certain provisions of the
Companies Act, 2013, as specified in column (2) of the Table, shall not apply
or shall apply with such exceptions, modifications and adaptations, as
specified in column (3) of the said Table, to a private company, namely:-
Serial number |
Chapter/ Section number/ Sub-section(s) in the Companies Act, 2013 |
Exceptions/ /Adaptations |
(1) |
(2) |
(3) |
1. |
Chapter l, sub-clause (viii) of clause (76) of section 2. |
Shall not apply with respect |
2. |
Chapter IV, section 43 and section 47 |
Shall not apply where memorandum association of the company so provides. |
3. |
Chapter IV, sub-clause
|
Shall apply with modifications:- In clause (a), in sub-clause Provided that notwithstanding section, in case periods lesser than specified in the said or sub-section shall apply. |
4. |
Chapter IV, clause (b) |
In clause (b), for the “special words “ordinary shall be substituted. |
5. |
Chapter IV, section |
Shall not apply to companies – (a) in whose share other body corporate has (b) if the borrowings a company from banks financial institutions body corporate is less twice its paid up share (c) such a company is default in repayment |
6. |
Chapter V, clauses (a) |
Shall not apply to a private details of monies so accepted |
7. |
Chapter VII, sections 101 |
Shall apply unless specified in respective |
8. |
Chapter VII, clause |
Shall not apply. |
9. |
Chapter X, Clause (g) |
Shall apply with the modification that the “other than one companies having share capital less hundred crore be inserted after the “twenty |
10. |
Chapter XI, section |
Shall not apply. |
11. |
Chapter XI, section |
Shall not apply. |
12. |
Chapter Xll, section |
Shall not apply. |
13. |
Chapter XII, |
Shall apply with the participate in such meeting |
14. |
Chapter Xll, section |
Shall not apply to a private (a) in whose share other body corporate has (b) if the borrowings of and (c) such a company has |
15. |
Chapter XIl, second |
Shall not apply. |
16. |
Chapter XIII, |
Shall not apply. |
2. The private companies,
while complying with such exceptions, modifications and adaptations, as
specified in column (3) of the aforesaid Table, shall ensure that the interests
of their shareholders are protected.
3. A copy of this
notification has been laid in draft before both Houses of Parliament as
required by sub-section (2) of section 462 of the Companies Act, 2013.
[F No 1/ 1/2014-CL.V]
Sd/-
Amardeep Singh Bhatia,
Joint Secretary to the Government of India