1. Its clarified that only Individuals can be appointed as a Director to the Board of Section 8 company. Further Section 8 Company needs to have minimum of 3 directors in case of Public Company and 2 in case of Private Company
2. Section 8 companies can provide loans at lower than the prevailing interest rates of one year, three year, five year or ten year Government Security yields which is the closest to the tenor of the loan if
   1. 26 % or more of the paid-up share capital is held by the Central Government or State Governments, and
   2. Loan is provided for funding Industrial Research and Development projects in furtherance of the Objects as stated in its Memorandum of Association.
3. All exemptions provided to a Section 8 Company stands withdrawn if they fail to file their financial statements or Annual returns with the Registrar

Click here to view the notification https://ca2013.com/wp-content/uploads/2017/06/ExemptionSection8Companies_14062017.pdf

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

3. For Merger and Amalgamation of Government companies the power to approve the scheme has been transferred from the Tribunal to the Central Government.
4. All exemptions provided to a Government Company stands withdrawn if they fail to file their financial statements or Annual returns with the Registrar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 https://ca2013.com/wp-content/uploads/2017/06/ExemptionGovernmentCompanies_14062017.pdf

1. Private Company that is recognized as a start-up company by the Department of Industrial Policy and Promotion need not include Cash Flow statement in their financial statements.
2. The exemption provided to Private companies for accepting Deposits has been expanded to include:
   1. A start-up, for five years from the date of its incorporation
   2. A Private Company that
      1. Is not an associate or a subsidiary company of any other company
      2. Has borrowings from banks or financial institutions or any body corporate which is less than twice its paid up share capital or fifty crore rupees, whichever is lower
      3. Has not defaulted in the repayment of such borrowings subsisting at the time of accepting deposits

3. Small Companies need to provide only aggregate amount of remuneration paid to their directors and key managerial personnel in their Annual Report
4. The Annual report of One Person Company, Small Company and Private Company can be signed by the company secretary, or where there is no company secretary, by the director of the company.
5. The Auditor need not comment on the Internal Financial Controls of the Company if:
   1. It is a one person company or a small company; or
   2. which has turnover of less than rupees fifty crores as per latest audited financial statement or which has aggregate borrowings from banks or financial institutions or any body corporate at any point of time during the financial year less than rupees twenty five crore
6. Private Company that is recognized as a start-up company by the Department of Industrial Policy and Promotion is required to conduct a minimum of one Board Meeting in each half of a calendar year and the gap between the two Board Meeting should not be less than 90 days.
7. An interested Director can also be counted for Quorum after they disclose their interest.
8. All exemptions provided to a Private Company stands withdrawn if they fail to file their financial statements or Annual returns with the Registrar.

Click here to see the notification https://ca2013.com/wp-content/uploads/2017/06/ExemptionPrivateCompanies.pdf