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March 2011

Exemption to certain Companies u/s.211(3).

By Sejal Vasa | Company Secretary
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Part D : company
law

 

79  Exemption to certain Companies u/s.211(3).

MCA vide Notification No. S 301, dated 8th February
2011 has in public interest, exempted the following classes of companies from
disclosing in their profit and loss account the information mentioned under
column (3), against each class of companies mentioned under column (2) of the
table given below subject to fulfilment of the conditions stipulated in
paragraph 2 of this Notification, namely :

SI.
No.


Class of companies


Exemptions from paragraphs of Part-II of Schedule VI

1

Companies producing
defence equipments including space research;

paragraphs 3(i)(a),
3(ii)(a), 3(ii)(d), 4-C, 4-D(a) to (e) except (d).

2

Export-oriented
company (whose export is more than 20% of the turnover);

paragraphs 3(i)(a),
3(ii)(a), 3(ii)(b), 3(ii)(d).

3

Shipping companies
(Including airlines);

paragraphs 4-D(a) to
(e) except (d).

4

Hotel companies
(including restaurants);

paragraphs 3(i)(a)
and 3(ii)(d)

5

Manufacturing
companies/multi-product companies;

paragraphs 3(i)(a)
and 3(ii)(a)

6

Trading companies;

paragraphs 3(i)(a)
and 3(ii)(b).

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