Notification regarding sub-section (6) of section 129 of the Companies Act, 2013

[To be published in the Gazette of India, Extraordinary, Part II,
Section 3, Sub­section (ii)]
New Delhi, dated 4th
September, 2015 S.0.—-(E).
– In exercise of the powers conferred by the sub-section (6) of section 129 of the Companies Act, 2013 (18 of 2013),
the Central
Government hereby, in public interest, directs that paras 5 (ii) (a) (1), 5
(ii) (a) (2), 5(ii) (e), 5 (iii), 5 (viii) (a),
5 (viii) (b), 5 (viii) (c) and 5 (viii) (e) relating to Additional Information
of the General Instructions for preparation
of Statement of Profit and Loss in Schedule III of the
Companies Act, 2013 shall not apply to government companies producing Defence Equipment including the Space
Research subject to fulfillment of following conditions, namely:-
A.   The Board of Directors of the Company has given consent with regard to non-disclosure of information relating to paras 5(ii)(a)(1),
5(ii)(a)(2), 5(ii)(e), 5(iii), 5(viii)(a), 5(viii)(b),
5(viii)(c) and 5(viii)(e), as may be applicable;
B.    The Company shall disclose in the Notes forming part of the balance sheet and profit and loss
account, the fact of grant of exemption under this notification;
C.   The
company shall comply with the prescribed Accounting Standards;

The company shall ensure
that its financial statements represent a true and fair state of affairs of its
finances; and

E.    The company shall maintain and file such information as may be prescribed or called for or required by the government or the Reserve
Bank of India or any other regulator.
2. This notification shall be applicable in
respect of financial statement prepared
in respect of the financial years ending on or after the 31st March, 2016.
No. 1/19/2013-CL-V-Part]
Joint Secretary

Leave a Reply

Your email address will not be published. Required fields are marked *