Companies (Removal Of Difficulties) Order, 2015

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..... 4(E).- 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 provision .....

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..... e 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 acqu .....

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..... g 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] .....

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