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Exemption Notification to Private Companies under Section 462 of Companies Act 2013

In exercise of its powers u/s 462, the Central Government vide notification dated 5th June,2015 has granted certain exemptions to private companies from the applicability of certain provisions of the Companies Act, 2013.It is intended to bring about ease in doing business and to provide a simpler and easier legal frame work for the Private Companies to function.The notification takes effect on and from 5th June, 2015. The exemptions, exceptions,.

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Exemtion to Private Companies with respect to Related Party Transactions Under Section 188 of Companies Act 2013

Definition of “Related Party” Sec. 2(76)(viii) provides that a “related party” with reference to a company means- -any company which isA. a holding, subsidiary or an associate company of such company; orB. a subsidiary of a holding company to which it is also a subsidiary;” Section 2(76) (viii) shall not apply to a Private Company with respect to Sec.188 What are the Relaxations??With respect to Section 188, a pr.

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Exemption To Private Company Other Than Subsidiary Of The Public Companies From The Provision Of The Companies Act, 2013 Vide Notification Dated 05/06/2015

Vide Notification Dated 05/06/2015 S. No Chapter & Section Particulars Exemption provided Remarks(major impact) 1 Chapter I Sub-clause (viii) of clause (76) of section 2. “Definition of Related Party” With Respect To Section 188 Shall not apply with respect To section 188. Transactions entered with them and falling under section 188 does not require compliance of sectio.

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