The Companies Act, 2013, which was introduced in a phased manner, with effect from 12 September 2013, resulted in severe hardships to private limited companies. There were various provisions which were made applicable to such private companies just like listed public companies. The representations of such stakeholders did not go unnoticed and the MCA gave numerous exemptions to private limited companies by way of Companies (Amendment) Act, 2015 and also vide its notification dated 5 June,2015. This being done, there are still areas where it is felt that private companies deserve certain further exemptions. In this white paper, we have tried to cover all major exemptions that are available to private limited companies, as issued by the MCA from time to time.
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