Amendments to the Exemptions provided to Governement Companies

  1. Government Companies can hold Annual general meeting at a place other than the registered office including places within the city, town or village in which the registered office of the company is situateonly after the Central Government approves it.
  2. Directors retirement by rotation shall not apply to a Government Company if it is:
    1. Unlisted Company, and
    2. Central or State Government hold more than 51% stake, or
    3. Is a subsidiary of a Government Company which fulfils the above 2 mentioned points

Prior to the notification this exemption was given to companies where it was fully owned by either Central or State Government or was a subsidiary of a fully owned government company

  1. For Merger and Amalgamation of Government companies the power to approve the scheme has been transferred from the Tribunal to the Central Government.
  2. All exemptions provided to a Government Company stands withdrawn if they fail to file their financial statements or Annual returns with the Registrar

Click here to view the notification