Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018, Effective from 7th August,2018. To view the effective notification Click Here
Refer Rule 14 of Companies(Prospectus and allotment of securities) rules,2014.To view the rule, Click Here
(1) Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018. To view the notification, Click Here
a company For nidhi companies, Section 42 shall not apply, except sub-section (1), explanation (11) to sub-section (2), sub-sections (4), (6), (8), (9) and (10) vide notification no. G.S.R. 465(E) dated 05 June 2015. To view the notification, Click Here
securities 2(81) Securities means the securities as defined in clause ( h ) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956)
as may be prescribed Refer Rule 14 of Companies(Prospectus and allotment of securities) rules,2014.To view the rule, Click Here
employees stock option 2(37) Employees’ stock option means the option given to the directors, officers or employees of a company or of its holding company or subsidiary company or companies, if any, which gives such directors, officers or employees, the benefit or right to purchase, or to subscribe for, the shares of the company at a future date at a pre-determined price
financial year 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.
form and manne r Refer Rule 14 of Companies(Prospectus and allotment of securities) rules,2014 and Form PAS 3 to PAS 5. To view the rule, Click Here
recognised stock exchange 2(73) Recognised stock exchange means a recognised stock exchange as defined in clause( f ) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956)
Securities and Exchange Board 2(82) Securities and Exchange Board means the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992)
(3) Shall not apply to IFSC Private and IFSC Public Company vide GSR 8(E) and GSR 9(E).To view the notification Click Here
sixty days To be be read as ninety days 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
scheduled bank 2(80) Scheduled bank means the scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934)
(7) Shall not apply to IFSC Private and IFSC Public Company vide GSR 8(E) and GSR 9(E).To view the notification Click Here
Registrar 2(75) Registrar means a Registrar, an Additional Registrar, a Joint Registrar, a Deputy Registrar or an Assistant Registrar, having the duty of registering companies and discharging various functions under this Act
promoters 2(69) “promoter” means a person—
(a) who has been named as such in a prospectus or is identified by the company in the annual return referred to in section 92; or
(b) who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise; or
(c) in accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to act:
Provided that nothing in sub-clause (c) shall apply to a person who is acting merely in a professional capacity
directors 2(34) Director means a director appointed to the Board of a company
