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of <h1>Amendment Clarifies 'Small Company' Definition and Exempts Certain Firms from Securities Restrictions in Companies Act, 2013.</h1> The Companies (Removal of Difficulties) Order, 2015 addresses issues in the Companies Act, 2013. It amends the definition of 'small company' in clause (85) of section 2 by replacing 'or' with 'and,' ensuring both conditions must be met for classification. Additionally, it modifies section 186 to exempt banking, insurance, and housing finance companies from restrictions on acquiring securities in their ordinary business operations. This order, effective upon its publication in the Official Gazette, resolves ambiguities and operational challenges faced by companies under the Act.
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