Companies (Removal of Difficulties) Order, 2015

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... .- Whereas, the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act) received the assent of the President on the 29th August, 2013; And whereas, clause (85) of section 2 of the said Act provides for definition of the term small company ; And whereas, clause (b) of sub-section (11) of section 186 of the said Act provides that the requirements of provisions of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s have arisen in this regard as companies which, though, meet one of the criteria but exceed the monetary limit in respect of second criteria excessively are also getting classified as `small companies'; and (b) in clause (b) of sub-section (11) of section 186 , in the absence of provisions for exemption to a banking company or an insurance company or a housing finance company making .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... urring at the end, the word and shall be substituted; and (b) in section 186 of the said Act, in sub-section (11), in clause (b), after item (iii), the following item shall be inserted, namely :- (iv) made by a banking company or an insurance company or a housing finance company, making acquisition of securities in the ordinary course of its business. . [F. No. 1/13/2013-CL.V-Part .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X