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of <h1>New Rules Limit Companies to Two Subsidiary Layers; Exceptions for Banking and Insurance. Violations Face Fines.</h1> The Companies (Restriction on number of layers) Rules, 2017, issued by the Ministry of Corporate Affairs, limits the number of subsidiary layers a company can have to two, effective from its publication date. Exceptions include banking, non-banking financial, insurance, and government companies. Companies exceeding this limit must file a return (Form CRL-1) within 150 days and cannot add more layers. Violations incur fines of up to ten thousand rupees, with additional daily fines for ongoing breaches. The rules aim to enhance transparency and prevent complex corporate structures.
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