Refer rule 17 of Companies (Incorporation) Rules, 2014. To view the rule, Click Here
Section 152 (5) shall not apply where appointment of such director is done by the Central Government or State Government, as the case may be. – vide notification no. G.S.R. 463(E) dated 5th June, 2015. To view the notification, Click Here
Inserted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here
5 ) In case of Government Company sub-section (5) shall not apply where appointment of such director is done by the Central Government or State Govemment, as the case may be, vide S.O. 463(E) dated 05.06.2015.
(The exceptions, modifications and adaptations provided above shall be applicable only to those Government Companies 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)
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To be be read as sixty days for IFSC Public company vide GSR 8(E) dated 04.01.2017.To view the notification Click Here
Refer rule 8 and rule 18 of the Companies (Appointment and Qualification of Directors) Rules,2014.To view the rule, Click Here
Provided This proviso shall not apply to section 8 companies. Refer notification no. G.S.R. 466(E) dated 5th June, 2015.
(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)
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(b) a subsidiary of a Government company, referred to in (a) above. (Substituted vide exemption notification to Government Companies dated 13th June, 2017)
(The exceptions, modifications and adaptations provided above shall be applicable only to those Government Companies 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 )
1. (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 of a Government company, referred to in (a) above, in which the entire paid up share capital is held by that Government company (inserted vide notification GSR 463(E) dated 5th June, 2015)
2. Specified IFSC Public Company
vide notification no. G.S.R. 463(E) dated 5th June, 2015 and GSR 08(E) dated 4th January, 2017.To view the notification, Click Here
vide notification no. G.S.R. 463(E) dated 5th June, 2015 and GSR 8(E) dated 4th January, 2017.To view the notification, Click Here
