Exemption to Private Companies under section 462 of CA, 2013

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....the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i), dated the 5^th June 2015 (hereinafter referred to as the principal notification), namely:- 2.   In the principal notification, in the Table, the existing serial number 1 and the entries relating thereto shall be re-numbered as serial number 1-A, and before the serial number 1A as so re-numbered and the entries relating thereto, the following serial number and the entries relating thereto shall be inserted, namely- (1) (2) (3) "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....

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....uch a company has not defaulted in the repayment of such borrowings subsisting at the time of accepting deposits under this section: Provided that the company referred to in clauses (A), (B) or (C) shall file the details of monies accepted to the Registrar in such manner as may be specified." 4.   In the principal notification, in the table, after serial number 6 and the entries relating thereto, the following serial numbers and the entries shall be inserted, namely:- (1) (2) (3) "6A. Chapter VII, clause (g) of sub- section (1) of section 92 Shall apply to private companies which are small companies, namely:- "(g) aggregate amount of remuneration drawn by directors;". 6B. Chapter VII, p....

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....te company is a start-up) shall be deemed to have complied with the provisions of this section if at least one meeting of the Board of Directors has been conducted in each half of a calendar year and the gap between the two meetings is not less than ninety days: Provided that nothing contained in this sub-section and in section 174 shall apply to One Person Company in which there is only one director on its Board of Directors. 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."   7.  In the principal notification,....