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        Corp. Laws, SEBI & IBC

        Relaxation in Companies Act

        July 15, 2014

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        Section 462 of the Companies Act 2013 envisages relaxations in the form of not applying some provisions of the Act or applying them with exceptions or modifications to specific class/classes of companies. Before grant of such relaxation, draft notifications have to be laid before each House of Parliament. Preparation of such notification is under active consideration.

        This was stated by Smt. Nirmala Sitharaman, MoS in the Ministry of Corporate Affairs in written reply to a question in the Rajya Sabha today.

        Relaxation under Companies Act requires draft notifications to be laid before the legislature before class based exemptions apply. Relaxation under the Companies Act enables specified provisions to be disapplied or applied with exceptions for particular classes of companies, conditional on draft notifications that must be laid before each House of the legislature; preparation of such notifications is under active consideration, as stated in a ministerial written response.
                          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.

                                Relaxation under Companies Act requires draft notifications to be laid before the legislature before class based exemptions apply.

                                Relaxation under the Companies Act enables specified provisions to be disapplied or applied with exceptions for particular classes of companies, conditional on draft notifications that must be laid before each House of the legislature; preparation of such notifications is under active consideration, as stated in a ministerial written response.


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