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<h1>India Amends Company Rules: Exemptions for Trusts, Penalty Changes, and Language Tweaks in Rules 9, 13, 23, 27.</h1> The Companies (Management and Administration) Second Amendment Rules, 2014, issued by the Government of India, amends certain provisions of the Companies (Management and Administration) Rules, 2014. These amendments include the insertion of a proviso in rule 9 exempting certain trusts related to mutual funds or venture capital funds from its application, the omission of specific terms in rule 13, a change in the penalty amount in rule 23, and the substitution of 'shall' with 'may' in rule 27. These changes take effect upon their publication in the Official Gazette.
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