Companies (Removal of Difficulties) Order, 2015

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..... 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 section 186 [except sub-section (1) of the .....

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..... iteria 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 acquisition of securities in its ordinary course of business, a difficulty has arise .....

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