Notification
Exemption to Government Companies u/s 462 of Companies Act, 2013
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 13th June, 2017
G.S.R. 582 (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 section 462 of the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act), the Central Government, in the interest of public, hereby amends the notification of the Government of India, in the Ministry of Corporate Affairs, vide number G.S.R. 463(E) dated the 5th June, 2015 published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i), dated the 5th June 2015 (hereinafter referred to as the principal notification), namely:-
2. In the principal notification, in the Table, for serial number 5 and the entries relating thereto, the following serial number and the entries relating thereto shall be substituted, namely:-
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(2) |
(3) |
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“5. |
Chapter VII, sub-section |
In sub-section (2), for the words "such other place as the Central |
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(2) of section 96. |
Government may approve in this behalf”, the words “ such other place |
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within the city, town or village in which the registered office of the |
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company is situate or such other place as the Central Government may |
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approve in this behalf” shall be substituted.”. |
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3. In the principal notification, in the Table, for serial number 15 and the entries relating thereto, the following serial number and the entries relating thereto shall be substituted, namely:-
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(1) |
(2) |
(3) |
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“15. |
Chapter XI, sub-sections |
Shall not apply to – |
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(6) and (7) of section 152. |
(a) a Government company, which is not a listed company, in which not |
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less than fifty-one per cent. of paid up share capital is held by the Central |
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Government, or by any State Government or Governments or by the |
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Central Government and one or more State Governments; |
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(b) a subsidiary of a Government company, referred to in (a) above.”. |
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4. In the principal notification, in the Table, after serial number 29, the following serial number and the entries relating thereto shall be inserted, namely:-
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(1) |
(2) |
(3) |
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“29A. |
Chapter XV, sections 230 |
For the word “Tribunal”, wherever it occurs, the wo rds “Central |
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to 232. |
Government” shall be substituted.”. |
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5. In the principal notification, after paragraph 2, the following paragraph shall be inserted, namely:-
“2A. The exceptions, modifications and adaptations provided in column (3) of the aforesaid Table shall be applicable to a Government company 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.”.
[F. No. 1/2/2014-CL-V]
AMARDEEP SINGH BHATIA,Jt. Secy.
Note:- 1. 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 said Act.
2. The principal notification was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R. 463(E) dated the 5th June, 2015.