Exemptions to Private Companies under section 462 of CA 2013

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....(2) of the Table, shall not apply or shall apply with such exceptions, modifications and adaptations, as specified in column (3) of the said Table, to a private company, namely:- Serial number Chapter/   Section  number/ Sub- section(s) in the Companies Act, 2013 Exceptions/ Modifications  /Adaptations (1) (2) (3) ^2[1 Chapter I, clause (40) of section 2. For the proviso, the following shall be substituted, namely:- Provided that the financial statement, with respect to one person company, small company, dormant company and private company (if such private company is a start-up) may not include the cash flow statement; Explanation. - For the purposes of this Act, the term 'start-up&#3....

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....n" shall be substituted 5. Chapter IV, section 67. Shall  not apply to  private companies - (a) in whose share capital no other  body  corporate  has invested any money; (b) if the borrowings of such a company  from banks or financial institutions or any body corporate is less than twice  its  paid  up  share capital or fifty crore rupees, whichever is lower; and (c) such a company is not in  default   in   repayment   of  such borrowings subsisting at   the   time   of   making transactions under   this section. ^3[6. Chapter V, clauses (a) to (e) of sub-section (2)  &....

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....e signed by the company secretary, or where there is no company secretary, by the director of the company.]             7. Chapter VII, sections  101 to 107 and section  109. Shall apply unless otherwise specified  in  respective sections  or  the  articles of the company provide otherwise. 8. Chapter VII, clause (g) of sub-section (3) of section  117. Shall not apply. 9. Chapter X, Clause  (g) of sub-section (3) of section  141. Shall apply   with the modification that the words  "other   than   one   person companies, dormant companies, small  companies&nbs....

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....11B Chapter XII, sub-section (3)     of section 174. Shall apply with the exception that the interested director may also be counted towards quorum in such meeting after disclosure of his interest pursuant to section 184.] 12. Chapter XII, section 180. Shall not apply. 13. Chapter XII, sub-section (2)  of section 184. Shall apply   with the exception that the interested director may  participate in such meeting after disclosure   of   his  interest. 14. Chapter XII, section 185. Shall not apply to a private company - (a) in whose share capital no other  body  corporate  has invested any money; (b) ....