Modification power over producer companies allows exemption or tailored application of company law, subject to parliamentary approval. The Central Government may, by notification in the Official Gazette, exempt specified provisions of the Companies Act from applying to Producer Companies or apply them with exceptions or adaptations; such notifications must be laid in draft before each House of Parliament for thirty days and, if both Houses disapprove or agree modifications before the end of the next session, the notification shall not be issued or shall be issued only in the modified form agreed by both Houses.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Modification power over producer companies allows exemption or tailored application of company law, subject to parliamentary approval.
The Central Government may, by notification in the Official Gazette, exempt specified provisions of the Companies Act from applying to Producer Companies or apply them with exceptions or adaptations; such notifications must be laid in draft before each House of Parliament for thirty days and, if both Houses disapprove or agree modifications before the end of the next session, the notification shall not be issued or shall be issued only in the modified form agreed by both Houses.
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