The Ministry of Corporate Affairs vide its notification dated 05.07.2017 has amend the Companies (Appointment and Qualification of Directors) Rules, 2014 to provide that the following classes of unlisted public company need not have independent directors-
(a) a joint venture;
(b) a wholly owned subsidiary; and
(c) a dormant company as defined under section 455 of the Act.
The Ministry of Corporate Affairs vide its notification dated 05.07.2017 has amend the National Company Law Tribunal Rules, 2016.
In the National Company Law Tribunal Rules, 2016 after the Rule 87, the Rule 87A shall be inserted for filing an Appeal or application under sub-section (1) and sub-section (3) of section 252 of the Companies Act, 2013.
MCA vide its notification dated 05th July, 2017 has notified certain amendments to the Schedule IV of the Companies Act, 2013.
News update by New Corporate Laws Treatise www.nclt.in All rights reserved.
Email us: email@example.com Call us. +91 9971502783