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December 2013

Exemption of section 182(1) to Companies incorporated as Electoral Trusts

By Sejal Vasa, Company Secretary
Reading Time 1 mins
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Vide Notification dated 7th November 2013, the Ministry of Corporate Affairs has directed that Companies incorporated with the name containing “Electoral Trusts” and approved in accordance with the procedure laid down in the Electoral Trusts Scheme 2013, notified vide S O. 309 (E) dated 31st January 2013 and for which license was granted u/s. 25 of the Companies Act, 1956 shall be exempt from the provisions of section 293 A (1) (b) and (2) which has since been replaced by the provisions u/s. 182 (1) of the Companies Act 2013 now in force.

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