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TMI BlogCompanies (Restriction on number of layers) Rules, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely:- 1. Short title and Commencement.- (1) These rules may be called the Companies (Restriction on number of layers) Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. 2. Restriction on number of layers for certain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of 1949); (b) a non-banking financial company as defined in clause (f) of Section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934) which is registered with the Reserve Bank of India and considered as systematically important non-banking financial company by the Reserve Bank of India; (c) an insurance company being a company which carries on the business of insurance in accordance with pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cement of these rules, have any additional layer of subsidiaries over and above the layers existing on such date; and (iii) shall not, in case one or more layers are reduced by it subsequent to the commencement of these rules, have the number of layers beyond the number of layers it has after such reduction or maximum layers allowed in sub-rule (1), whichever is more. (5) If any company contrav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by holding company Layer 1 1 SL1-1 2 SL1-2 3 SL1-3 Layer 2 …….. .. SL2-1 .. SL2-2 .. SL2-3 Layer 3.. ….. .. SL3-1 .. SL3-2 .. SL3-3 .Layer 4. ……. .. SL4-1 .. SL4-2 .. SL4-3 .. …… ..Upto last layer ….. ….. …. … …. I (Name of director of the company signing the Form) am authori ..... X X X X Extracts X X X X X X X X Extracts X X X X
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