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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (I)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 2 March, 2020 G.S.R. (E). - In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) and in pursuance of sub-section (2) of section 462 of the Companies Act, 2013 (18 of 2013), the Central Government, in the public interest, hereby makes the following further amendments in the notification of th
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FAQ :
The MCA has issued this notification to provide further amendments and exemptions to government companies under Section 462 of the Companies Act, 2013, in the public interest.
For government companies that have issued shares with differential voting rights, 'paid-up share capital' will now be construed as 'total voting power'.
Yes, the notification clarifies that certain provisions of Section 188 of the Companies Act, 2013, shall not apply to government companies in specific contract scenarios, including those with other government entities or the government itself.
Government companies, other than listed ones, may need approval from the relevant Ministry or Department of the Central Government, or the State Government, before entering into specific contracts or arrangements.
This notification was issued on the 2nd of March, 2020.
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