Exemption under section 620 limited to prospective cases; existing government companies cannot be reconverted to private status. Several government companies became public companies by operation of the turnover criterion in sub section (1A) of section 43A. Representations for exemption under section 620 were considered; legal advice indicates exemptions can be granted prospectively but cannot be applied retrospectively to reconvert companies already treated as public. The Department of Company Affairs has granted and is considering other exemptions to lessen operational burdens on government companies.
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.
Exemption under section 620 limited to prospective cases; existing government companies cannot be reconverted to private status.
Several government companies became public companies by operation of the turnover criterion in sub section (1A) of section 43A. Representations for exemption under section 620 were considered; legal advice indicates exemptions can be granted prospectively but cannot be applied retrospectively to reconvert companies already treated as public. The Department of Company Affairs has granted and is considering other exemptions to lessen operational burdens on government companies.
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