Relaxation in Companies Act

Section 462 of the Companies Act 2013 envisages relaxations in the form of not applying some provisions of the Act or applying them with exceptions or modifications to specific class/classes of companies. Before grant of such relaxation, draft notifications have to be laid before each House of Parliament. Preparation of such notification is under active consideration.

This was stated by Smt. Nirmala Sitharaman, MoS in the Ministry of Corporate Affairs in written reply to a question in the Rajya Sabha today.