Exemptions to a Private Company - Companies Act 2013
Exemptions to Private Companies Exemptions to Private Companies: The exemptions enjoyed by a private company are dealt with mainly by following two notification: 1. G.S.R. 464( E ) dated 5 th June 2015;& 2. G.S.R. 583 (E) dated 13 th June 2017 The exemptions have been explained in – Did you know? format. 1. Did you know that a member can vote on a resolution for according members approval, even if such member is a Related Party. Explanation: As per exemption notification G.S.R. 464( E ) dated 5 th June 2015, in Section 188 (1), second proviso, where depending on the transaction value, prior approval of the members is required, a member can vote, even if such member is a related party, as second proviso to section 188(1) is not applicable to a private company. 2. Did you know that - any body corporate which is holding, subsidiary, fellow subsidiary, associate, eligible in...