The Ministry of Corporate Affairs vide its notification dated 20.09.2017 has brought into force the proviso to Section 2(87) of the Companies Act, 2013 from 20.09.2017.
“The Ministry of Corporate Affairs (MCA)” vide its notification dated 20.09.2017, in connection with the Section 2(87) of the Companies Act, 2013 has introduced the Companies (Restriction on number of layers) Rules, 2017 regarding restriction on number of layers for certain classes of holding companies
Every company prescribed in this rule having more than two layers of subsidiary companies require to file return in Form CRL-1 to Registrar within 150 days from the date of publication of these rules in official gazette.
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