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ITO BE PUBLISHED IN THE GAZE-TTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB.SECTION (i)]

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi' the /-//' 'Ji't'

7o"

_ (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 public, hereby directs that certain provisions of the Companies
Act, 2013, as specified in column (2) of the Table, shall not apply or shall apply
with such exceptions, modifications and adaptations, as specified in column (3)
of the said Table, to a private company, namely:G.S.R.

Serial
Chapter/
Section number/ Subnumber section{s) in the Companies Act, 2013

Chaptcr l, sub-clause
6l of section 2.

Exceptions/ Modifications
/Adaptations

of clause Shall not apply with respect

Chapter IV. section 43 and section 47.

to section 188.

Shall not apply

where

memorandum or articles of
association of the private
comDanv so orovides.
Chapter IV, sub-clause (i) of clause (a) Shall apply with following
of sub-section (1) and sub-section (2) modifications:of section 62.
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. of the members of a
private company have given
their consent in writins or

in electronic mode,

the

periods lesser than those

specilied in the said subclause or sub-section shall
apply,
4.

Chapter IV, clause (b) of sub-section In clause (b), for the words
(1) of section 62.

5.

Chapter IV, section 67.

"special resolution",

the
words "ordinary resolution"
shall be substituted.
Shall not apply to private
companies (a) in whose share capital no

other body corporate

has

invested any money;

if the borrowings of such

company from banks or
financial institutions or any
body corporate is less than
(b)

twice its paid up

share

capital or hfty crore rupees,

whichever is lower; and
(c) such a company is not in

default in repayment oI
such borrowings subsisting

at the time of making

transactions under this
section.
6.

Chapter V, clauses (a) to {e) of sub- Shall not apply to a private

section (2) of section 73.
company which accepts
from its members monies
not exceeding one hundred
per cent. of aggregate of the

paid up share capital and

free reserves, and

such
the

company shall file

details of
monies

so

such manner as may

be

accepted to the Registrar in

specilled.

7.

Chapter VII, sections 1Ol to 107 and Shall apply unless otherwise
section 1O9.
specined in respective
sections or the articles of

the

company

provide

otherwise.
8.

9.

Chapter VII, clause (g) of sub-section Shall not apply.

(3) of section 117.
Chapter X, Clause (g) of sub-section Shall apply with the
(3) of section 141.
modifrcation that the words

"other than one

person

companiesr dormant
companies,
small
companies and private

companies having paid-up

share capital less than one
hundred crore rupees" shall
be inserted after the words
"twentlr companies".
10.

Chapter XI, section 160.

Shall not apply.

11.

Chapter XI, section 162.

Shall not app1y.

12.

Chapter Xll, section 180.

Shall not apply.

13.

Chapter XII, sub-section (2) of section Shall

Fv.F6fi^h
184.

apply with
rh.i

interested director

the
tha

may

participate in such meeting

after disclosure of his
interest.
14.

Chapter Xll, section 185.

Shall not apply to a private

company

(a) in whose share capital no

other body corporate

has

invested any money;

(b) if the borrowings of

such a company from banks

or financial institutions or
any body corpolate is

les_q

than twice of its paid up

share capital or fifty crore
rupees, whichever is lower;
and
(c) such a company has no
default in repayment of
such borrowings subsisting
at the time of making
transactions under this
sect1()n.
15.
16.

2.

Chapter XIl, second proviso to sub- Shall not apply.

section (1) of section 188.
Chapter XIII, sub-sections (a) and (5) Shall not apply.
of section 196.

The

private companies, while complying with such exceptions,

modifications and adaptations, as specified in column (3) of the aforesaid
Table, shall ensure that the interests oI their shareholders ar orotected.

3. A copy of this notification has been laid in draft before both Houses of
Parliament as required by sub-section (2) of section 462 of the Companies Act,
2013.

lF No 1/ 1

l2or4-cL.vl

Joint Secretary to the Government of India

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