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Exemptions to Government Companies under section 462 of CA 2013

Companies Law - F. No. 1/2/2014-CL-V - Dated:- 5-6-2015 - [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Corporate Affairs Notification New Delhi Dated the 05th June, 2015 G.S.R. 463(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 said section of the Companies Act, 2013 (18 of 2013) and in supersession of notifications issued unde .....

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ection(s) in the Companies Act, 2013 Exceptions, Modifications and Adaptations. (1) (2) (3) 1. Chapter II, section 4. In section 4, in sub-section (1). in clause (a), the words 'in the case of a public limited company, or the last words "Private Limited" in the case of a private limited company' shall he omitted. 2. Chapter IV, section 56 In sub-section (1), after the proviso, the following provisos shall he inserted, namely:- Provided further that the provisions of this sub-se .....

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f the bond: Provided also that the provisions of this sub-section shall not apply to a Government Company in respect of securities held by nominees of the Government. 3. Chapter VII. section 89. Shall not apply. 4. Chapter VII. section 90. Shall not apply 5. Chapter VII. sub- section (2) of section 96 In sub-section (2). for the words some other place within the city, town or village in which the registered office of the company is situate", the words "such other place as the Central G .....

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tral Government. or by any State Government or Governments or by the Central Government and one or more State Governments or by one or more Government Company. 8. Chapter IX. section 129. Shall not apply to the extent of application of Accounting Standard 17 (Segment Reporting) to the companies engaged in defence production. 9. Chapter IX, clause (e) of sub-section (3) of section 134 Shall not apply 10 Chapter IX, clause (p) of sub-section (3) of section 134. Shall not apply in case the director .....

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39; the Central Government which is administratively in charge of the company, or, as the case may he, the State Government shall be substituted 13 Chapter XI, clause (c) of sub-section (6) of section 149. Shall not apply. 14. Chapter XI sub-section (5) of section 152 Shall not apply where appointment of such director is done by the Central Government or State Government, as the case may be 15. Chapter XI sub sections (6) and (7) of section 152 Shall not apply to - (a) a Government Company in wh .....

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t or Governments or by the Central Government and one or more State Governments; (b) a subsidiary of a Government company. referred to in (a) above, in which the entire paid up share capital is held by that Government company. 17 Chapter XI, section 162. Shall not apply to - (a) a Government Company in which the entire paid up share capital is held by the Central Government, or by any State Government or Governments or by the Central Government and one or more State Governments; (b) a subsidiary .....

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held by that Government company. 19 Chapter XI, sub- section(2) of section 164 Shall not apply. 20 Chapter XI, section 170 Shall not apply to a Government Company in which the.entire share capital is held by the Central Government, or by any State Government or Governments or by the Central Government or by one or more State Governments 21 Chapter XI, section 171 Shall not apply to a Government Company in which the entire share capital is held by the Central Government, or by any State Governme .....

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ment of 'senior management' and other employees. 24 Chapter XII, section 185. Shall not apply to Government company in case such .company obtains approval of the Ministry or Department of the Central Government which is administratively in charge of the company, or, as the case may be, the State Government before making any loan or giving any guarantee or providing any security under the section 25 Chapter XII, section 186 Shall not apply to - (a) a Government company engaged in defence .....

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