Provided that until the Securities and Exchange Board specifies the information and reports on financial information under this sub-section, the regulations made by the Securities and Exchange Board under the Securities and Exchange Board of India Act, 1992, in respect of such financial information or reports on financial information shall apply. Inserted vide Companies (Amendment) Act, 2017 dated 03.01.2018, effective from 07.05.2018.To view commencement notification, Click Here
To view the notification of Companies Amendment Act,2017 Click Here
( a ) Omitted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 07.05.2018.To view commencement notification, Click Here
following information, namely:— Refer rule 3,4,5 and 6 of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
as may be prescribed ; Refer rule 3(1)(a)of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
prescribed time ; Refer rule 3(1)(c)of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
prescribed manner; Refer rule 3(1)(e) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
underwriting of the issue; Refer rule 3(1)(f) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
as may be prescribed; Refer rule 3(1)(g) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
as may be prescribed; Refer rule 3(3) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
remuneration 2(78) Remuneration means any money or its equivalent given or passed to any person for services rendered by him and includes perquisites as defined under the Income-tax Act, 1961 (43 of 1961)
as may be prescribed ; Refer rule 3(5) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
as may be prescribed Refer rule 3(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
b ) Omitted vide Companies (Amendment) Act, 2017 dated 03.01.2018, effective from 07.05.2018. To view commencement notification, Click Here
as may be prescribed; Refer rule 4(1) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
financial years 2(41) Financial Year , in relation to any company or body corporate, means the period ending on the 31st day of March every year, and where it has been incorporated on or after the 1st day of January of a year, the period ending on the 31st day of March of the following year, in respect whereof financial statement of the company or body corporate is made up:
Provided that on an application made by a company or body corporate, which is a holding company or a subsidiary of a company incorporated outside India and is required to follow a different financial year for consolidation of its accounts outside India, the Tribunal may, if it is satisfied, allow any period as its financial year, whether or not that period is a year:
Provided further that a company or body corporate, existing on the commencement of this Act, shall, within a period of two years from such commencement, align its financial year as per the provisions of this clause
Provided also that in case of a Specified IFSC public company, which is a subsidiary of a foreign company, the financial year of the subsidiary may be same as the financial year of its holding company and approval of the Tribunal shall not be required.
Provided also that in case of a Specified IFSC private company, which is a subsidiary of a foreign company, the financial year of the subsidiary may be same as the financial year of its holding company and approval of the Tribunal shall not be required.
subsidiaries 2(87) Subsidiary , in relation to any other company (that is to say the holding company), means a company in which the holding company—
( i ) controls the composition of the Board of Directors; or
( ii ) exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies:
Provided that such class or classes of holding companies as may be prescribed shall not have layers of subsidiaries beyond such numbers as may be prescribed.(Not notified)
Explanation.— For the purposes of this clause,—
( a ) a company shall be deemed to be a subsidiary company of the holding company even if the control referred to in sub-clause ( i ) or sub-clause ( ii ) is of another subsidiary company of the holding company;
( b ) the composition of a company’s Board of Directors shall be deemed to be controlled by another company if that other company by exercise of some power exercisable by it at its discretion can appoint or remove all or a majority of the directors;
( c ) the expression “company” includes any body corporate;
( d ) “layer” in relation to a holding company means its subsidiary or subsidiaries
Refer rule 4(2) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
as may be prescribed Refer Rule 6-Companies (Prospectus and Allotment of Securities) Rules,2014.To view the rule, Click Here
prescribed manner Refer rule 4(3) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
d ) Omitted vide Companies (Amendment) Act, 2017 dated 03.01.2018, effective from 07.05.2018. To view commencement notification, Click Here
as may be prescribed. Refer rule 5 of the Companies (Prospectus and Allotment of Securities) Rules, 2014. To view the rule, Click Here
filing Substituted vide the Companies (Amendment) Act, 2019 dated 31.07.2019 w.e.f., 15.08.2019. To view the Amendment Act, Click Here . To view the commencement Notification, Click Here .
(7) Omitted vide the Companies (Amendment) Act, 2019 dated 31.07.2019 w.e.f., 15.08.2019. To view the Amendment Act, Click Here . To view the commencement Notification, Click Here .
with imprisonment for a term which may extend to three years or Omitted vide Companies (Amendment) Act, 2020 dated 28.09.2020 with effect from 21.12.2020. To view the Act, Click Here . To view the commencement notification, Click Here .
Substituted vide Companies (Amendment) Act, 2020 dated 28.09.2020 with effect from 21.12.2020. To view the Act, Click Here . To view the commencement notification, Click Here .
