Exemption to Specified IFSC Private company –under section 462 of the Companies Act,2016 - F. No. 3/1/2015-CL.I (Part-1) - Companies Law

IFSC private company exemptions permit tailored Companies Act compliance and procedural relaxations for licensed IFSC entities.

Notification provides targeted exemptions and adaptations of the Companies Act for private companies licensed to operate from an IFSC in an approved SEZ, requiring formation as a company limited by shares, use of the suffix 'International Financial Service Company' or 'IFSC', objects limited to licensed financial services, and permanent registered office at the IFSC; it permits financial year alignment with a foreign holding company without Tribunal approval and introduces procedural relaxations including extended filing timelines, board powers by circulation, modified meeting and disclosure rules, conditional auditor appointment deeming, CSR exemption for an initial period, and mutatis mutandis application to qualifying foreign companies.