(The exceptions, modifications and adaptations provided above shall be applicable only to those Government Companies which has not committed a default in filing its financial statements under section 137 of the said act or annual return under section 92 of the said act with the registrar, vide notification dated 13th June, 2017)
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Sub-section (1) shall not apply for IFSC Private and IFSC Public company vide GSR 8(E)and GSR 9(E) dated 04.01.2017.To view the notification Click Here
Sub-section (2) shall not apply for specified IFSC Public and IFSCPrivate Companies if a company passes a resolution either at meeting of the Board of Directors or by circulation vide GSR 8(E)and GSR 9(E) dated 04.01.2017.To view the notification Click Here
(ii) any other body corporate (not being a company as defined in this Act), which the Central Government may, by notification, specify in this behalf
Inserted vide Companies (Amendment) Act, 2017 dated 03.01.2018, Effective from 7th May,2018
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To view the notification of Companies Amendment Act,2017 Click Here
(3) Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 Effective from 7th May,2018
Sub-section (3) shall not apply for specified IFSC Public and IFSC Private Companies if a company passes a resolution either at meeting of the Board of Directors or by circulation vide GSR 8(E)and GSR 9(E) dated 04.01.2017.To view the notification Click Here
Refer rule 13 of the Companies (Meeting of Board and its Board) Rules,2014. To view the rule, Click Here
Explanation. – For the purposes of this Act, the term ‘start-up’ or “start-up company” means a private company incorporated under the Companies Act, 2013 (18 of 2013) or the Companies Act, 1956 (1 of 1956) and recognised as start-up in accordance with the notification issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.
MCA has clarified vide clarification 04/2015 dated 10 March,2015 that loans and/or advances made by the companies to their employees, other than the managing or whole time directors (which is governed by section 185) are not governed by the requirements of section 186 of the Companies Act, 2013. This clarification will, however, be applicable if such loans/advances to employees are in accordance with the conditions of service applicable to employees and are also in accordance with the remuneration policy, in cases where such policy is required to be formulated. To view the clarification, Click Here
Provided further that Inserted vide Exemption Notification to specified IFSC Public Companies, GSR 08 (E) dated 04.01.2017. To view the notification Click Here
Provided further that Inserted vide Exemption Notification to specified IFSC Private Companies, GSR 09 (E) dated 04.01.2017. To view the notification Click Here
Refer rule 11 of the Companies (Meeting of Board and its Board) Rules,2014. To view the rule, Click Here
It is clarified by MCA vide General Circular 06/2015 dated 09 April 2015 that in cases where the effective yield (effective rate of return) on tax free bonds is greater than the prevailing yield of one year, three year, five year or ten year Government Security closest to the tenor of the loan, it will not be violation of sub-section (7) of section 186 of the Companies Act,2013.To view the clarification, Click Here
Provided that Inserted vide exemption notification to section 8 companies dated 13th June, 2017.
(The exceptions, modifications and adaptations provided shall be applicable only to those companies covered under section 8 of the said act which has not committed a default in filing its financial statements under section 137 of the said act or annual return under section 92 of the said act with the registrar, vide notification dated 13th June, 2017)
It is clarified by MCA that registers maintained by companies pursuant to sub-section (5) of Section 372A of Companies Act, 1956 may continue as per requirements under these provisions and the new format prescribed vide Form MBP2 shall be used for particulars entered in such registers on and from 1.4.2014 vide Circular 15/2014 dated 09 June 2014. To view the clarification, Click Here
Refer rule 12 and Form No. MBP 2 of the Companies (Meeting of Board and its Board) Rules,2014. To view the rule, Click Here
Refer rule 12 and Table annexed to the Companies (Registration Offices and Fees) Rules, 2014. To view the rule, Click Here
Inserted by the Companies (Removal of Difficulties) Order, 2015 vide notification no. S.O. 504 (E) dated 13th February 2015. To view the order, Click Here
(11) Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 Effective from 7th May,2018.To view commencement notification, Click Here
Refer rule 11 and 13 and Form No. MBP 2 of the Companies (Meeting of Board and its Board) Rules,2014. To view the rule, Click Here
Inserted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 7th May,2018. To view commencement notification, Click Here . To view the notification, Click Here
