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ARTICLE · 03 JULY 2017

MCA Notifies Additional Exemptions For Private Companies (Including Start-Ups)

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The MCA had exempted private companies in India from the applicability of certain provisions under the Companies Act, 2013 for operational flexibility and reduction of compliance requirements, vide a notification dated 5 June 2015.

IndiaCorporate/Commercial Law
Vineet Shingal
Vineet Shingal
Shweta Dwivedi
Shweta Dwivedi
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The Ministry of Corporate Affairs (MCA) had exempted private companies in India from the applicability of certain provisions under the Companies Act, 2013 (Companies Act) for operational flexibility and reduction of compliance requirements, vide a notification dated 5 June 2015 (2015 Notification).

The MCA has further relaxed the application of additional provisions of the Companies Act to private companies (including start-ups) vide its recent notification dated 13 June 2017 (2017 Notification). The relaxations brought out by the 2017 Notification can be availed only by such private companies (including start-ups), which have not defaulted in filing of their annual return and financial statements, as per the Companies Act.

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