MCA NOTIFICATION JULY 25, 2014

MCA NOTIFICATION 

Ministry of Corporate Affairs has vide its notification 25^th July 2014 has issued following notification;

 

In exercise of the powers conferred by the second proviso to sub-section (1) of section 203 of the Companies Act, 2013 ,the Central Government hereby notifies that public companies having paid-up share capital of rupees one hundred crore or more and annual turnover of rupees one thousand crore or more which are engaged in multiple businesses and have appointed Chief Executive Officer for each such business shall be the class of companies for the purposes of the second proviso to sub-section (1) of section 203 of the said Act.

Explanation. –

For the purposes of this notification, the paid-up share capital and the annual turnover shall be decided on the basis of the latest audited balance sheet.

http://mca.gov.in/Ministry/pdf/Notification_25072014_3.pdf

Companies Act, 2013, Second amendemnet in Chapter VII, Companies (Management and Administration Rules) 2014

 

Thanks & Regards:

KASHIF ALI & ASSOCIATES

Company Secretaries

268, Business India Complex,

Uday Park, New Delhi-110049

Call us : +91 9718483209

 Mai: cs.kashifali@gmail.com

 

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