Exemption of financial companies narrows Section 58A applicability while preserving advertisement obligations under the Act. The notification exempts all classes of financial companies from the application of section 58A of the Companies Act, except for the advertisement provisions in clause (b) of sub section (2); it defines 'financial company' as a non banking company that is a financial institution under the relevant Reserve Bank statutory provision and implements the exemption by formal government notification following regulatory consultation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption of financial companies narrows Section 58A applicability while preserving advertisement obligations under the Act.
The notification exempts all classes of financial companies from the application of section 58A of the Companies Act, except for the advertisement provisions in clause (b) of sub section (2); it defines "financial company" as a non banking company that is a financial institution under the relevant Reserve Bank statutory provision and implements the exemption by formal government notification following regulatory consultation.
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