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81st Network Planning Group evaluates 5 infra projectsNobel Peace Prize goes to Japanese NGO Nihon Hidankyo which works with atomic bomb survivors in Hiroshima & NagasakiCongress extends support to NC for forming government in J&KWHO accredits CDSCO, NRAI for functional vaccine regulatory systemAs over 560 Kgs of Cocaine seized in Delhi & Mumbai, ED conducts Search operations against kingpinsLate industrialist and renowned philanthropist Ratan Tata’s brother Noel Tata succeeds him as Chairman of Tata TrustsGST - Impugned order was passed in violation of principles of natural justice since it is just and necessary to provide an opportunity to the petitioner to establish their case on merits - Matter remanded subject to petitioner paying 15% of disputed tax: HCR G Kar rape-murder case - protesting junior doctors’ hunger strike enters 6th day; one criticalGST - SCN for recovery of any tax, interest and/or penalty is required to be issued to the legal representative or such other person, who is carrying on the business of the deceased taxpayer - SCN issued to a deceased person is set aside: HCGerman ambassador to India finalises agenda for PM Modi’s meet with German Chancellor Olaf Scholz; aim on achieving ‘guaranteed outcomes’ from talksMusk promises to make robotaxi available by 2027GST - Since only a SCN has been issued, it is premature for the petitioner to challenge the same by approaching Court: HCMishap in Colorado gold mine - 1 dead, 12 trappedUkraine goes for biggest tax hike to fund warI-T - E-assessment order invalidated where passed without allowing opportunity of personal hearing despite assessee having asked for the same: HCADB raises economic growth projections for developing Asia and the PacificBrazil may go for millionaire tax, says FMGulf States urge America to dissuade Israel from bombing Iranian oil sitesCBIC issues posting-cum-transfer order of 7 PCC & CCsBumper wheat production: Iraq to lose half a billion USD in markets
Untitled Document

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUBSECTION (II)]

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
 NEW DELHI

NOTIFICATION

Dated: July 25, 2014

In exercise of the powers conferred by the second proviso to sub-section (1) of section 203 of the Companies Act, 2013 (18 of 2013), the Central Government hereby notifies that public companies having paid-up share capital of rupees one hundred crore or more and annual turnover of rupees one thousand crore or more which are engaged in multiple businesses and have appointed Chief Executive Officer for each such business shall be the class of companies for the purposes of the second proviso to sub-section (1) of section 203 of the said Act.

Explanation. - For the purposes of this notification, the paid-up share capital and the annual turnover shall be decided on the basis of the latest audited balance sheet.

[File No. 1/5/2013-CL-V]

(Amardeep Singh Bhatia)
Joint Secretary to the Govt. of India

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