Notification,
File No. l/5/2013-CL-V, dated 25th July, 2014
S.O. ----(E). - In exercise
of the powers conferred by the second proviso to sub-section (1) of section 203
of the Companies Act, 2013 (18 of2013), the Central Government hereby notifies
that public companies having paid-up share capital of rupees one hundred crore
or more and annual turnover of rupees one thousand crore or more which are
engaged in multiple businesses and have appointed Chief Executive Officer for
each such business shall be the class of companies for the purposes of the
second proviso to sub-section (1) of section 203 of the said Act.
Explanation.
- For the purposes of this notification, the paid-up share capital and the
annual turnover shall be decided on the basis of the latest audited balance
sheet.
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