1 ) In case of In case of Nidhi company – Section 136 (1) shall apply, subject to the modification that, in the case of members who do not individually or jointly hold shares of more than one thousand rupees in face value or more than one per cent, of the total paid-up share capital whichever is less, it shall be sufficient compliance with the provisions of the section if an intimation is sent by public notice in newspaper circulated in the district in which the Registered Office of the Nidhi is situated stating the date, time and venue of Annual General Meeting and the financial statement with its enclosures can be inspected at the registered office of the company, and the financial statement with enclosures are affixed in the Notice Board of the company and a member is entitled to vote either in person or through proxy.To view the notification, Click Here
Without prejudice to the provisions of section 101, Omitted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here
Explanation. – For the purposes of this Act, the term ‘start-up’ or “start-up company” means a private company incorporated under the Companies Act, 2013 (18 of 2013) or the Companies Act, 1956 (1 of 1956) and recognised as start-up in accordance with the notification issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.
(The exceptions, modifications and adaptations provided above shall be applicable only to those companies covered under section 8 of the said act which has not committed a default in filing its financial statements under section 137 of the said act or annual return under section 92 of the said act with the registrar, vide notification dated 13th June, 2017)
To view the notification, Click Here
Provided that Inserted vide Companies (Amendment) Act, 2017 dated 03.01.2018, effective from 09.02.2018. To view the notification, Click Here
Provided further that Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here
Refer rule 10 of the Companies (Accounts) Rules,2014.To view the rule, Click Here
Provided also Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here
Refer rule 11 of the Companies (Accounts) Rules,2014.To view the rule, Click Here
Refer Rule 11-Companies (Accounts) Rules,2014.To view the rule, Click Here
subsidiary 2(87) Subsidiary , in relation to any other company (that is to say the holding company), means a company in which the holding company—
( i ) controls the composition of the Board of Directors; or
( ii ) exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies:
Provided that such class or classes of holding companies as may be prescribed shall not have layers of subsidiaries beyond such numbers as may be prescribed.(Not notified)
Explanation.— For the purposes of this clause,—
( a ) a company shall be deemed to be a subsidiary company of the holding company even if the control referred to in sub-clause ( i ) or sub-clause ( ii ) is of another subsidiary company of the holding company;
( b ) the composition of a company’s Board of Directors shall be deemed to be controlled by another company if that other company by exercise of some power exercisable by it at its discretion can appoint or remove all or a majority of the directors;
( c ) the expression “company” includes any body corporate;
( d ) “layer” in relation to a holding company means its subsidiary or subsidiaries
Provided also that Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here
Provided that Inserted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here
