Exemptions for Government companies narrow application of certain Companies Act provisions, allowing ministerial approvals and tailored compliance. Notification under the Companies Act, 2013 exempts or modifies specified statutory provisions for Government companies by authorising deviations in definitions, transfer formalities, governance and reporting obligations. Several provisions on directors' appointment and evaluation, board and committee requirements, related-party contracts, loans and guarantees, and certain accounting rules are disapplied or made subject to approval by the administratively responsible Ministry or State Government, while requiring that shareholder interests be protected and, in some cases, conditioning exceptions on timely statutory filings.
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.
Exemptions for Government companies narrow application of certain Companies Act provisions, allowing ministerial approvals and tailored compliance.
Notification under the Companies Act, 2013 exempts or modifies specified statutory provisions for Government companies by authorising deviations in definitions, transfer formalities, governance and reporting obligations. Several provisions on directors' appointment and evaluation, board and committee requirements, related-party contracts, loans and guarantees, and certain accounting rules are disapplied or made subject to approval by the administratively responsible Ministry or State Government, while requiring that shareholder interests be protected and, in some cases, conditioning exceptions on timely statutory filings.
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