Section 92, 94, 96, 100, 101 and 110 of Companies Amendment Act 2017

 

Amendment of section 92 of Companies Act 2013

23. In section 92 of the principal Act,-
(i) in sub-section (1),-
(a) clause (c) shall be omitted;
(b) in clause (j), the words "indicating their names, addresses, countries of incorporation, registration and percentage of shareholding held by them" shall be omitted;
(c) after the proviso, the following proviso shall be inserted, namely:-
'Provided further that the Central Government may prescribe abridged form of annual return for "One Person Company, small company and such other class or classes of companies as may be prescribed".'.
(ii) for sub-section (3), the following sub-section shall be substituted, namely:-
"(3) Every company shall place a copy of the annual return on the website of the company, if any, and the web-link of such annual return shall be disclosed in the Board's report.".
(iii) in sub-section (4), the words and figures, "within the time as specified, under section 403" shall be omitted;
(iv) in sub-section (5), for the words and figures, "under section 403 with additional fees" the word "therein" shall be substituted.

 

 

 

Amendment of section 93 of Companies Act 2013

24. Section 93 of the principal Act shall be omitted.

 

Amendment of section 94 of Companies Act 2013

25. In section 94 of the principal Act,- (i) in sub-section (1), in the first proviso, the words "and the Registrar has been given a copy of the proposed special resolution in advance" shall be omitted; (ii) in sub-section (3), the following proviso shall be inserted, namely:- "Provided that such particulars of the register or index or return as may be prescribed shall not be available for inspection under sub-section (2) or for taking extracts or copies under this sub-section."

 

Amendment of section 96 of Companies Act 2013

26. In section 96 of the principal Act, in sub-section (2), in the proviso, for the words
"Provided that", the following shall be substituted, namely:-
"Provided that annual general meeting of an unlisted company may be held at any place in India if consent is given in writing or by electronic mode by all the members in advance:
Provided further that".


Amendment of section 100 of Companies Act 2013

27. In section 100 of the principal Act, in sub-section (1), the following proviso shall be inserted, namely:- "Provided that an extraordinary general meeting of the company, other than of the wholly owned subsidiary of a company incorporated outside India, shall be held at a place within India.".

 

Amendment of section 101 of Companies Act 2013

28. In section 101 of the principal Act, in sub-section (1), for the proviso, the following proviso shall be substituted, namely:-
"Provided that a general meeting may be called after giving shorter notice than that specified in this sub-section if consent, in writing or by electronic mode, is accorded thereto-
(i) in the case of an annual general meeting, by not less than ninty-five per cent of the members entitled to vote thereat; and
(ii) in the case of any other general meeting, by members of the company-
(a) holding, if the company has a share capital, majority in number of members entitled to vote and who represent not less than ninety-five per cent of such part of the paid-up share capital of the company as gives
a right to vote at the meeting; or
(b) having, if the company has no share capital, not less than ninty-five per cent. of the total voting power exercisable at that meeting:
Provided further that where any member of a company is entitled to vote only on some resolution or resolutions to be moved at a meeting and not on the others, those members shall be taken into account for the purposes of this sub-section in respect of the former resolution or resolutions and not in respect of the latter.".

 

Amendment of section 110 of Companies Act 2013

29. In section 110 of the principal Act, in sub-section (1), the following proviso shall be inserted, namely:-
"Provided that any item of business required to be transacted by means of postal ballot under clause (a), may be transacted at a general meeting by a company which is required to provide the facility to members to vote by electronic means under section 108, in the manner provided in that section.".
30. In section 117 of the principal Act,-
(i) in sub-section (1), the words and figures "within the time specified under section 403" shall be omitted;
(ii) in sub-section (2),-
(a) for the words and figures "under section 403 with additional fees", the word "therein" shall be substituted;
(b) for the words "not be less than five lakh rupees", the words "not be less than one lakh rupees" shall be substituted;
(c) for the words "one lakh rupees", the words "fifty thousand rupees" shall be substituted;
(iii) in sub-section (3),-
(a) clause (e) shall be omitted;
(b) in clause (g), in the proviso, the word "and" shall be omitted and the following proviso shall be inserted, namely:-
"Provided further that nothing contained in this clause shall apply to a banking company in respect of a resolution passed to grant loans, or give guarantee or provide security in respect of loans under clause (f) of sub-section (3) of section 179 in the ordinary course of its business; and.".