This notification, G.S.R. 777(E), issued by the Ministry of Corporate Affairs on October 11, 2019, introduces the Companies (Meetings of Board and its Powers) Amendment Rules, 2019. The amendment modifies the Companies (Meetings of Board and its Powers) Rules, 2014. Specifically, in rule 11, sub-rule 2, the phrase "business of financing of companies" is replaced with "business of financing industrial enterprises". These rules are enacted under the powers conferred by sections 173, 177, 178, and 186 read with section 469 of the Companies Act, 2013. The amendment came into force on the date of its publication in the Official Gazette. The principal rules were initially published via notification G.S.R. 240(E) on March 31, 2014, and have been subsequently amended through notifications G.S.R. 398(E) (June 12, 2014), G.S.R. 590(E) (August 14, 2014), G.S.R. 206(E) (March 18, 2015), G.S.R. 971(E) (December 14, 2015), G.S.R. 309(E) (March 30, 2017), G.S.R. 880(E) (July 13, 2017), and G.S.R. 429(E) (May 7, 2018). Contact information: K. V. R. Murty, Jt. Secy., F. No. 13/22/2013-CL.VPart.
Key Entities Referenced
Companies Act, 2013: A law enacted by the Parliament of India that regulates incorporation of companies, responsibilities of a company, directors, dissolution of a company, and other related matters.
Companies Meetings of Board and its Powers Rules, 2014: A set of rules pertaining to the meetings of the board of directors and their powers, as per the Companies Act, 2013.
Companies Meetings of Board and its Powers Amendment Rules, 2019: Amendment to the Companies Meetings of Board and its Powers Rules, 2014
Ministry of Corporate Affairs: The Indian government ministry responsible for regulation of corporate affairs in India.
New Delhi: The capital of India, where the notification was issued.
K. V. R. Murty: The Joint Secretary who signed the notification.
G.S.R. 777E: Notification number related to the Companies Act.
Mayapuri, New Delhi: Location of the Government of India Press, Ring Road
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5312 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 11th October, 2019
G.S.R. 777(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) 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 11, in sub-rule (2), for the words
“business of financing of companies”, the words “business of financing industrial enterprises” shall be
substituted.
[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; and
7. G.S.R. 429(E), dated the 7th May, 2018.
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