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of <h1>India Modifies Companies Act for Section 8 Non-Profits: Key Exemptions and Changes to Enhance Flexibility and Compliance.</h1> The Government of India, through a notification dated June 5, 2015, issued exemptions and modifications to certain provisions of the Companies Act, 2013, for non-profit entities licensed under Section 8. These exemptions include waiving the requirement for minimum paid-up share capital and altering timelines for meetings and document circulation. Specific sections such as 118, 150, and 178 are not applicable, while others have modified conditions. These adjustments are contingent on compliance with filing obligations under Sections 137 and 92. The notification ensures shareholder interests are protected while allowing operational flexibility for Section 8 companies.
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