"Public Notice from Ministry of Corporate Affairs"
The proviso to clause (87) of section 2 of the Companies Act, 2013 provides for restricting class or classes of holding companies from having layers of subsidiaries beyond prescribed number. Based on suggestions received, the Ministry of Corporate Affairs (MCA) is considering commencing the said provision.
Accordingly, a notification proposing amendments to the Companies (Specification of Definitions Details) Rules, 2014 containing the above prescription has been drafted and is available, along with a background/explanatory note, on the online portal of the Ministry, www.mca.gov.in. It has been decided to invite suggestions/comments on the draft notification/rules from stakeholders. Comments/suggestions on the draft rules along with justifications in brief may be sent latest by 20th July, 2017 through email at firstname.lastname@example.org. It is requested that the name, contact number, email address and postal address of the sender be indicated clearly at the time of sending suggestions/comments in the given format.
Link for the above said Notice is given below-
CS Prakash Verma