Companies engaged in cultivation/ processing of tea exempted from disclosing - SO 400(E), - Companies Law

Notification: No. SO 400(E), dated 19 ‑ 4 ‑ 1988. Subject:- Exemption of any class of companies from compliance with any requirements of Schedule VI ‑ Companies engaged in cultivation/ processing of tea exempted from disclosing information in para 3(ii)(a)(1) of Part II of the Schedule S.O. 400(E).- In exercise of the powers conferred by sub‑section (3) of section 211 of the Companies Act, 1956 (1 of 1956), the Central Government hereby exempts companies engaged in the cultivation or processing of tea, or both, from disclosing in the profit and loss account the information mentioned in sub‑clause (1) of clause (a) of para 3(ii) of Part II of Schedule VI to the said Act subject to the following conditions, namely: (1) The profit and loss account shall disclose the quantity and other particulars (not including the value) of green leaf tea produced and processed by such companies separately together with the opening and closing stock thereof during the financial year to which the said profit and loss account relates. (2) In respect of green leaf tea, if any, purchased from outside source, such companies shall also disclose in their profit and loss account the value of the tea purchased in addition to the disclosure of the quantity and other particulars of the green leaf tea so purchased and processed and the opening and closing stock thereof. 2. This notification shall remain in force for a period of three years from the date of its publication in the Official Gazette.