The Companies Act is a legislation that governs the formation, functioning, and management of companies. Explore the key provisions, compliance requirements, and legal framework under the Companies Act.
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The Summary of provisions that are notified vide Notification to exempt private companies u/s 462 of the Companies Act, 2013 are tabulated below.
I am a COMMON Seal of the company who ruled the corporate world for a century. I come to you with a message of leave-taking and farewell, and to share a few final thoughts with you. In India, I was born through an Indian Companies Act 1913 came into force on the first day of April 1914. It was extended to the whole of British India, including British Baluchistan and the Santhal Parganas
The Ministry of Corporate Affairs has relaxed norms for private companies including those pertaining to related party transactions, acceptance of deposits and auditor appointments. The Ministry has issued much awaited notification on 5th June 2015 providing exemptions to private companies.
Under section 462 of CA, 2013 on 05/06/2015 MCA has issued exemption notification for Private Companies other than subsidiary of public companies under Companies Act, 2013 Companies Act, 2013 has brought massive changes for private companies as barring a very few, all the exemptions which were available to private companies under the Companies Act, 1956 […]
Ministry of Corporate Affairs has issued Notification dated June 5, 2015 by which it has provided various much awaited Exemptions to Private Companies other than the subsidiary of a public company a summary of such exemptions is as follows :-
MCA has vide notification dated 05/06/2015 exempted private limited companies from resolutions passed in pursuance of sub-section (3) of section 179 as it has provided that clause (g) of sub-section (3) of section 117 shall not apply to private limited Companies. Section 179 (3) specifies the power which board shall exercise on behalf of the […]
Section 180 of Companies Act 2013 which was applicable to all type of Companies and which was putting a restriction of power of board of directors and specified that some specified transaction under section 180 can be done by Board only with the consent of the company by a special resolution.
MCA has vide Notification dated 05/06/2015 has exempted from Statutory Audit ceiling limit of 20 company audit limit the following Companies :- a) other than one person companies b) dormant companies, c) small companies and private companies having paid-up share capital less than one hundred crore rupees. So now the Limit of 20 Companies includes:- […]
MCA vide notification dated 05/06/2015 titled Exemptions to Private Companies U/s. 462 of CA 2013 has provided that Restriction on loan to directors provided under section 185 of Companies Act, 2013 shall not apply to following private companies: (a) in whose share capital no other body corporate has invested any money; (b) if the borrowings […]
More recently, on 16 January 2015, the MCA issued another amendment that provides that the requirements in respect of consolidation of financial statements shall not apply to a company having subsidiary or subsidiaries incorporated outside India only for the financial year commencing on or after 1 April 2014.
