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Exemptions to Private Companies under section 462 of CA 2013

Companies Law - F. No. 1/1/2014-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. 464 (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), the Central Government, in the interest of pu .....

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ction 188. 2 Chapter IV, section 43 and section 47. Shall not apply where memorandum or articles of association of the private company so provides. 3 Chapter IV, sub-clause (1) of clause (a) of sub-section (1) and sub-section (2) of section 62 Shall apply with following modifications:- In clause (a), in sub-clause (i), the following proviso shall be inserted, namely:- Provided that notwithstanding anything contained in this sub-clause and sub-section (2) of this section, in case ninety per cent .....

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any money; (b) if the borrowings of such a company from banks or financial institutions or any body corporate is less than twice its paid up share capital or fifty crore rupees, whichever is lower; and (c) such a company is not in default in repayment of such borrowings subsisting at the time of making transactions under this section. 6. Chapter V, clauses (a) to (e) of sub-section (2) of section 73 Shall not apply to a private company which accepts from its members monies not exceeding one hund .....

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