Draft Notification by MCA for Private Cos
Ministry of Corporate Affairs published a draft notification on 24th June 2014 which, by far if notified, will be paramount importance and will restore the heydays for private companies clearing the air with respect to the same, the Ministry of Corporate Affairs published a draft notification on the inapplicability/ partial/ modified applicability of certain provisions of Companies Act 2013 to the Private Companies in exercise of powers under section 462 of Companies Act 2013.
The draft notification has been laid before both the Houses of Parliament as is required by the sub-section (2) of Section 462 of the Act, 2013. The Ministry has also published a notice inviting public comments on the draft notifications latest by 1st July, 2014.
Click here for notification – http://www.mca.gov.in/Ministry/pdf/Draft_Notification_24062014_1.pdf