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SeCTion-WiSe AnAlySiS of The ComPAnieS (AmendmenT) ACT, 2017

u For the purposes of confidentiality, certain documents as may
be prescribed shall not be open for inspection or availing
copy thereof.
96 Place for convening AGM Annual general meeting of an unlisted company may be held at
of unlisted company any place in India subject to prior consent of all the members of
the company in writing or by electronic mode.
100 Place of convening EGM Extraordinary general meeting (“EGM”) of the company shall
be held at any place in India provided, EGM of wholly owned
subsidiary incorporated outside India may be held outside India.
101 Minimum consent required General meetings may be called at shorter notice subject to below
for calling general meeting mentioned consents in writing or by electronic mode:
u Annual General Meeting: Consent of at least 95% of members
entitled to vote at the meeting.
u Extra-ordinary General Meeting:
(i) Company having share capital: Majority of members entitled
to vote who represent not less than 95% of the paid-up
share capital of the company.
(ii) Company not having share capital: not less than 95% of
the total voting power exercisable at the meeting.
If any member of a company is entitled to vote only on some
resolution or resolutions to be moved at a meeting and not on
the others, such member shall be taken into account for the pur-
poses of this sub-section in respect of the former resolution or
resolutions and not in respect of the latter.
110 Mandatory requirement to In case of matters required to be mandatorily conducted through
pass resolution by postal postal ballot, the same may be transacted at a general meeting
ballot by the company which is required to provide electronic voting
facility under section 108.
123 Payment of dividend u Amount representing unrealized gains, notional gains or re-
valuation of assets and any changes in carrying amount of
an asset or of a liability on measurement of the asset or
the liability at fair value shall be excluded while calculating
profits for dividend payout;
u Provision has been made for declaration of interim dividend
for any financial year or at any time during the period from
closure of financial year till holding of the annual general
meeting.
129 Consolidation of Accounts Financials of associate company shall also be consolidated with
the financials of the Company.
132 Constitution of National The appeals against the order of NFRA shall be examined by
Financial Reporting NCLAT.
Authority.
134 Board’s Report u Omission of the requirement of the CEO to be a director in
order to sign the report.
u Omission of the requirement of the extract of the annual return
in Form MGT-9 to be included in the board’s report, instead
web address of the annual return shall be provided in this
regard.

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January 20 To January 26, 2018 u Taxmann’s Corporate Professionals Today u Vol. 41 u 27