28.Substituted by the Companies (Amendment) Ordinance,2019 dated 12.01.2019   [Companies (Amendment) Ordinance 2018 is repealed on 12th January 2019], 29.Substituted by the Companies (Amendment) Act,2017, in section 2,for clause (28):-. ( a) is not a private company and; ( b) has a minimum paid-up share capital of five lakh rupees or such higher paid-up capital, as may be prescribed: Provided that a company which is a subsidiary of a company, not being a private company, shall be deemed to be public company for the purposes of this … F.O. *** Sub-clause (iv) of  clause 29 has been notified on 18th May 2016. Section 2 (71) public company. (i) the High Court having jurisdiction in relation to the place at which the registered office of the company concerned is situate, except to the extent to which jurisdiction has been conferred on any district court or district courts subordinate to that High Court under sub-clause (ii); (ii) the district court, in cases where the Central Government has, by notification, empowered any district court to exercise all or any of the jurisdictions conferred upon the High Court, within the scope of its jurisdiction in respect of a company whose registered office is situate in the district; (iii) the Court of Session having jurisdiction to try any offence under this Act or under any previous company law; *** (iv) the Special Court established under section 435. In this Act, unless the context otherwise requires,—. Sub-clause (iv) of  clause 29 has been notified on 18th May 2016. (a) is not a private company *****14[and]; (b) 9[has a minimum paid-up share capital 5[Omitted], as may be prescribed]: Provided that a company which is a subsidiary of a company, not being a private company, shall be deemed to be public company for the purposes of this Act even where such subsidiary company continues to be a private company in its articles ; (72) "public financial institution" means—. 3453(E) Dated 15th November, 2016 enforcing the related sections of Insolvency and Bankruptcy Code, 2016. ], [,securities premium account and debit or credit balance of profit and loss account], [as per profit and loss account for the immediately preceding financial year], ["(94A) "winding up" means winding up under this Act or liquidation under the Insolvency and Bankruptcy Code, 2016, as applicable.".]. 2. - Notification Dated 5th January, 2017, 14. Even though it is a private company, it still has to comply as if it is a public company. "Cost Accountant" means a cost accountant as defined in clause (b) of sub-section (1) of section 2 of the Cost and Works Accountants Act, 1959 and who holds a valid certificate of practice under sub-section (1) of section 6 of that Act; 30.Inserted by The Companies (Amendment)Act,2017, 31.Substituted by the Companies (Amendment) Act,2017, In clause (76), for sub-clause (viii), (A) a holding, subsidiary or an associate company of such company; or. Omitted by Companies (Amendment) Act,2015 dated 29th May, 2015. Substituted by Companies (Removal of Difficulties) fifth Order Dated 09th July 2014. (1) "abridged prospectus" means a memorandum containing such salient features of a prospectus as may be specified by the Securities and Exchange Board by making regulations in this behalf; ** (2) "accounting standards" means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133; (3) "alter" or "alteration" includes the making of additions, omissions and substitutions; (4) "Appellate Tribunal" means the National Company Law Appellate Tribunal constituted under section 410; (5) "articles" means the articles of association of a company as originally framed or as altered from time to time or applied in pursuance of any previous company law or of this Act; (6) "associate company", in relation to another company, means a company in which that other company has a significant influence, but which is not a subsidiary company of the company having such influence and includes a joint venture company. In case of Specified  IFSC Private Company, - In clause (41) of Section 2, after the second proviso, the following proviso shall be inserted, namely:-, “Provided also that in case of a Specified IFSC private company, which is a subsidiary of a foreign company, the financial year of the subsidiary may be same as the financial year of its holding company and approval of the Tribunal shall not be required.”. Omitted by Companies (Amendment) Act,2015 dated 29th May, 2015. 1. [2] Whereas in some cases external resources are also used this can be external commercial, borrowing, debentures, public … 2. ** Clause (2), (7), (13), (31), (41), (42), (47), (48), (62), (83), (85) have been notified as on 1st April 2014. Substituted by Companies (Removal of Difficulties) fifth Order Dated 09th July 2014. 1 & 2 [103. 1. The definition of promoters is incorporated in the definition clause of the Companies Act, 2013. (46) "holding company", in relation to one or more other companies, means a company of which such companies are subsidiary companies; *****14[Explanation.—For the purposes of this clause, the expression "company" includes any body corporate.]. Prospectus can be defined as “any document which is described or issued as a prospectus”. “Provided that the financial statement, with respect to one person company, small company, dormant company and private company (if such private company is a start-up) may not include the cash flow statement;”, Explanation. (B) persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased, shall not be included in the number of members; and. (B) a subsidiary of a holding company to which it is also a subsidiary; the following sub-clause shall be substituted, namely :-. (i) restricts the right to transfer its shares; (ii) except in case of One Person Company, limits the number of its members to two hundred: Provided that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this clause, be treated as a single member: (A) persons who are in the employment of the company; and. Section 3(1) of the CA, 2013– Public company may be formed for any lawful purpose by 7 or more persons. (iii) where there is no key managerial personnel, such director or directors as specified by the Board in this behalf and who has or have given his or their consent in writing to the Board to such specification, or all the directors, if no director is so specified; (iv) any person who, under the immediate authority of the Board or any key managerial personnel, is charged with any responsibility including maintenance, filing or distribution of accounts or records, authorises, actively participates in, knowingly permits, or knowingly fails to take active steps to prevent, any default; (v) any person in accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to act, other than a person who gives advice to the Board in a professional capacity; (vi) every director, in respect of a contravention of any of the provisions of this Act, who is aware of such contravention by virtue of the receipt by him of any proceedings of the Board or participation in such proceedings without objecting to the same, or where such contravention had taken place with his consent or connivance; (vii) in respect of the issue or transfer of any shares of a company, the share transfer agents, registrars and merchant bankers to the issue or transfer; (61) "Official Liquidator" means an Official Liquidator appointed under sub-section (1) of section 359; ** (62) "One Person Company" means a company which has only one person as a member; (63) "ordinary or special resolution" means an ordinary resolution, or as the case may be, special resolution referred to in section 114; (64) "paid-up share capital" or "share capital paid-up" means such aggregate amount of money credited as paid-up as is equivalent to the amount received as paid-up in respect of shares issued and also includes any amount credited as paid-up in respect of shares of the company, but does not include any other amount received in respect of such shares, by whatever name called; (65) "postal ballot" means voting by post or through any electronic mode; (66) "prescribed" means prescribed by rules made under this Act; (67) "previous company law" means any of the laws specified below:—.