This notification, G.S.R. 857(E), issued by the Ministry of Corporate Affairs on November 18, 2019, introduces the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019. These rules, which take effect on the date of publication in the Official Gazette, amend the Companies (Meetings of Board and its Powers) Rules, 2014. The amendments specifically address rule 15, sub-rule 3, clause (a), modifying sub-clauses (i), (ii), (iii) and (iv) by omitting certain financial thresholds related to net worth, turnover, or fixed monetary values for determining the applicability of specific provisions. These amendments are made in exercise of the powers conferred by sections 173, 177, 178, and 186 read with section 469 of the Companies Act, 2013. The notification number is F. No. 13/22/2013-CL.VPart. The order is issued under the authority of K.V.R. Murty, Jt. Secy. The principal rules were initially published under notification G.S.R. 240(E) on March 31, 2014, and have been subsequently amended through eight notifications, with the most recent being G.S.R. 777 (E) on October 11, 2019.
Key Entities Referenced
Companies Act, 2013: An act of the Parliament of India that regulates incorporation of companies, responsibilities of a company, directors, dissolution of a company and other related matters.
Central Government: The executive authority of the Union of India.
Companies Meetings of Board and its Powers Rules, 2014: Rules pertaining to the meetings of the board of directors of companies and their powers, as established in 2014.
Companies Meetings of Board and its Powers Second Amendment Rules, 2019: An amendment to the Companies Meetings of Board and its Powers Rules, 2014.
Ministry of Corporate Affairs: A ministry in the Government of India responsible for regulating corporate affairs.
New Delhi: The capital of India, where the notification was issued.
K.V.R. Murty: The Joint Secretary who signed the notification.
The Gazette of India: A public journal and an authorized legal document of the Government of India, published weekly by the Department of Publication.
jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99
vlk/kj.k
EXTRAORDINARY
Hkkx II—[k.M 3—mi&[k.M (i)
PART II—Section 3—Sub-section (i)
izkf/dkj ls izdkf'kr
PUBLISHED BY AUTHORITY
la- 674] ubZ fnYyh] lkseokj] uoEcj 18] 2019@dkfrZd 27] 1941
No. 674] NEW DELHI, MONDAY, NOVEMBER 18, 2019/KARTIKA 27, 1941
ककककााााररररपपपपोोोोररररेेेेटटटट ककककाााायययय (cid:10)(cid:10) (cid:10)(cid:10)मममम(cid:13)(cid:13)ंं(cid:13)(cid:13)ंं ााााललललयययय
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 18 नव(cid:11) बर, 2019
ससससाााा....ककककाााा....ििििनननन.... 888855557777((((अअअअ))))....—के(cid:15)(cid:16)ीय सरकार, कंपनी अिधिनयम, 2013 (2013 का 18) क" धारा 469 के साथ प%ठत
धारा 173, धारा 177, धारा 178 और धारा 186 (ारा )द* शि,य- का )योग करत े 0ए, कंपनी (बोड 3 क" बैठक5 और
उसक" शि,यां) िनयम, 2014 का और सशं ोधन करन ेके िलए िन8िलिखत िनयम बनाती ह,ै अथा3त्:-
1. (1) इन िनयम- का सिं <= नाम कंपनी (बोड 3क" बैठक5 और उसक" शि,या)ं दसू रा संशोधन िनयम, 2019 ह।ै
(2) ये िनयम राजप? म5 )काशन क" तारीख से )व*ृ ह-गे।
2. कंपनी (बोड 3क" बैठक5 और उसक" शि,या)ं िनयम, 2014 के िनयम 15 के उप-िनयम (3) के खंड (क) म,5-
(क) उप-खंड (i) और (ii) म 5“अथवा एक सौ करोड़ Dपये, जो भी कम हो,” शFद- का लोप (cid:4)कया जाएगा; और
(ख) उप-खंड (iii) म5, “कंपनी के िनवल मू(cid:6)य का दस )ितशत या उससे अिधक या कंपनी के Hापारावत3 का दस
)ितशत या उससे अिधक या एक सौ करोड़ Dपय,े जो भी कम हो” शFद- के Iथान पर “कंपनी के Hापारावत3 का
दस )ितशत या उसस ेअिधक” शFद रखे जाएंगे; और
(ग) उप-खंड (iv) म5, “अथवा पचास करोड़ Dपये, जो भी कम हो,” शFद- का लोप (cid:4)कया जाएगा।
[फा. सं. 1/32/2013-सीएल-V-पाट3]
के.वी.आर. मूOत,3 संयु, सिचव
(cid:15)(cid:15)(cid:15)(cid:15)टटटट(cid:16)(cid:16)(cid:16)(cid:16)पपपपणणणणीीीी :::: मूल िनयम भारत के राजप?, असाधारण, भाग-II, खंड-3, उप-खंड (i) म 5 अिधसूचना संRया सा.का.िन.
240(अ) , तारीख 31 माच3, 2014 (ारा )कािशत (cid:4)कए गए थे और तSपTात ्िन8ानुसार सशं ोिधत (cid:4)कए गए :-
1. सा.का.िन. 398 (अ), तारीख 12 जून, 2014;
2. सा.का.िन. 590(अ), तारीख 14 अगIत, 2014;
5936 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
3. सा.का.िन. 206(अ), तारीख 18 माच3, 2015;
4. सा.का.िन. 971(अ), तारीख 14 (cid:4)दस(cid:11) बर, 2015;
5. सा.का.िन. 309(अ), तारीख 30 माच3, 2017;
6. सा.का.िन. 880(अ), तारीख 13 जलु ाई, 2017;
7. सा.का.िन. 429(अ), तारीख 07 मई, 2018; और
8. सा.का.िन. 777(अ), तारीख 11 अ,ूबर, 2019 ।
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 18th November, 2019
G.S.R. 857(E).—In exercise of the powers conferred by sections 173, 177, 178 and section 186 read with
section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules
further to amend the Companies (Meetings of Board and its Powers) Rules, 2014, namely:—
1. (1) These rules may be called the Companies (Meetings of Board and its Powers) Second Amendment Rules,
2019.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Meetings of Board and its Powers) Rules, 2014, in rule 15, in sub-rule (3), in clause (a),-
(a) in sub-clauses (i) and (ii), the words “or rupees one hundred crore, whichever is lower”, shall be omitted;
(b) in sub-clause (iii), for the words “amounting to ten per cent or more of the net worth of the company or
ten per cent or more of turnover of the company or rupees one hundred crore, whichever is lower”, the words
“amounting to ten per cent or more of the turnover of the company” shall be substituted; and
(c) in sub-clause (iv), the words “or rupees fifty crore, whichever is lower”, shall be omitted.
[F. No. 1/32/2013-CL-V-Part]
K.V.R. MURTY, Jt. Secy.
Note : The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),
vide notification number G.S.R. 240(E), dated the 31st March, 2014 and subsequently amended as follows:-
1. G.S.R. 398 (E), dated the 12th June, 2014;
2. G.S.R. 590 (E), dated the 14th August, 2014;
3. G.S.R. 206 (E), dated the 18th March, 2015;
4. G.S.R. 971(E), dated the 14th December, 2015;
5. G.S.R. 309 (E), dated the 30th March, 2017;
6. G.S.R. 880 (E), dated the 13th July, 2017;
7. G.S.R. 429 (E), dated the 7th May, 2018; and
8. G.S.R. 777 (E) dated the 11th October, 2019.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.