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of <h1>Order Clarifies 'Small Company' Definition u/s 2(85) and Amends Section 186 for Financial Firms.</h1> The Companies (Removal of Difficulties) Order, 2015, addresses issues arising from the Companies Act, 2013. It clarifies that a company must meet both criteria in clause (85) of section 2 to qualify as a 'small company,' preventing companies exceeding one criterion from being misclassified. Additionally, it amends section 186 to exempt banking, insurance, and housing finance companies from restrictions on acquiring securities in their ordinary business. This order, issued by the Ministry of Corporate Affairs, amends the Act to resolve these difficulties, effective upon publication in the Official Gazette.
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