Public Financial Institution designation for NABARD prompts Companies Act reporting and employee disclosure revisions in directors' reports. Declaration of NABARD as a Public Financial Institution under section 4A of the Companies Act, 1956 gives NABARD that regulatory classification. Separately, revision of limits under section 217(2A) read with the Companies (Particulars of Employees) Rules, 1975 changes which employees must be disclosed in the Statement attached to the Board's report; this revision applies to directors' reports annexed to balance sheets for financial years whose accounts close on or after the notification date.
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Provisions expressly mentioned in the judgment/order text.
Public Financial Institution designation for NABARD prompts Companies Act reporting and employee disclosure revisions in directors' reports.
Declaration of NABARD as a Public Financial Institution under section 4A of the Companies Act, 1956 gives NABARD that regulatory classification. Separately, revision of limits under section 217(2A) read with the Companies (Particulars of Employees) Rules, 1975 changes which employees must be disclosed in the Statement attached to the Board's report; this revision applies to directors' reports annexed to balance sheets for financial years whose accounts close on or after the notification date.
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