2131
Panaji, 22nd November, 2018 (Agrahayana 1, 1940)
SERIES I No. 34
Reg. No. G-2/RNP/GOA/32/2018-20
RNI No. GOAENG/2002/6410
PUBLISHED BY AUTHORITY
Suggestions are welcomed on e-mail: dir–[email protected]
GOVERNMENT OF GOA
Department of Animal Husbandry
Directorate of Animal Husbandry & Veterinary Services
Corrigendum
3-1(13)/2018-19/5052
Read. No. 3-1(13)2017-18/6430 dated 25-01-2018.
In the Official Gazette, Government of Goa,
Panaji dated 8th February, 2018 (Magha 19,
1939) Series I No. 45 at page 2075, in the fourth
para maximum permissible cost may be read
as “will be Rs. 34,800/- and the subsidy
component will be @ 75% i.e. Rs. 26,100/- in
place of Rs. 42,100/- and subsidy component
will be @ 75% i.e. Rs. 31,575/-”.
All the other contents in the said order
remain unchanged.
By order and in the name of the Governor
of Goa.
Dr. Santosh V. Desai, Director & ex officio Jt.
Secretary (AH).
Panaji, 19th November, 2018.
Department of General Administration
__
Addendum
47/1/2017-GAD-III/3270
Read: Government order No. 47/1/2017-GAD-III/
/3232 dated 5-11-2018.
In the Government order read in preamble,
in the first para, after the line “O/o the Member
of Parliament” the following sentence
shall be added:
“in the initial pay of Rs. 19,900/- in
index 1 of Level 2 of the Pay Matrix of
the 7th Pay Commission on co-terminus
basis”.
Rest of the contents remain unchanged.
Varsha S. Naik, Under Secretary (GA).
Porvorim, 14th November, 2018.
Department
Notification/Order/Admm./Corr.
Subject
Pages
1. Animal Husbandry
Corri.- 3-1(13)/2018-19/5052
Corrigendum.
2131
Dir. & ex officio Jt. Secy.
2. General Administration
Addm.- 47/1/2017-GAD-III/3270
Addendum.
2131
Under Secretary
3. Home
Not.- 1/10/2017-HD(G)/3270
Goa Traffic Sentinel Scheme, 2017.
2132
Under Secretary
4. Handicrafts, Textile & Coir Ord.- 2/3/2015/HT&C
Final Sanctioned Staff Strength.
2133
Under Secretary
5.a. Law & Judiciary
Ord.- 13-5-2013-LD/Estt./
Conversion of temporary posts to permanent
2134
Under Secretary
/P.F./2025
post—CJJD & JMFC.
b. —do—
Ord.- 12/10/2018-LD(Estt)/2071
Creation of posts—D&SC, South.
2135
c. —do—
Not. 10/6/2018-LA-134
The Companies (Amendment) Act, 2017.
2138
d. —do—
Not. 10/6/2018-LA-138
Indian Forest (Amendment) Act, 2017.
2163
e. —do—
Not.- 10/6/2018-LA-139
The Appropriation (No. 5) Act, 2017.
2164
6. Town & Country Planning Not.- 29/8/TCP/2015-18(Pt. file/
Rate of processing fee and rate of fee for
2167
Secretary
/2391
change of zone.
NOTE
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2132
Department of Home
Home—General Division
__
Notification
1/10/2017-HD(G)/3270
Introduction.— Due to rise in vehicular
population the increasing number of accidents
is a matter of concern. Moreover, violations of
traffic laws in the State are also increasing and
it is not feasible to detail traffic staff of the Police
Department at each and every corner due to
limited manpower resources. Therefore to
enable and encourage citizens to participate
and assist the Traffic Police, it is proposed to
start a “Traffic Sentinel Scheme”.
2. Short title and commencement.— (1) This
scheme may be called the “Goa Traffic Sentinel
Scheme, 2017”.
(2) It shall deemed to have come in force
w.e.f. 10th November, 2017.
3. Aims & Objective.— As a part of
community policing active participation of
members of public through Traffic Sentinel
Scheme will be sought to prosecute traffic
violators. This scheme will also play a major
role in creating road safety awareness
amongst various sections of road users and
will assist the Traffic police to prosecute traffic
violators, create traffic sense amongst various
sections of road users, by seeking active
participation of members of public.
4. Type of violations and their reward
points.—
Type of Violation
Reward Points
Photo or Video
Driving against the flow of traffic
10
Parking on Footpath/Zebra Crossing
3
Triple Riding
10
Improper Number Plate
3
Without Seat Belt
7
Without Helmet
7
Using vehicle with Tinted Glass
3
Video Clip only
Red Light Jumping
10
Dangerous Driving
10
Using Mobile while Driving
10
5. Working of Traffic sentinel scheme.— (i)
Members of public will have to register
themselves through “WhatsApp” a freeware
and (cross-platform messaging and voice over
IP Service) No. 7875756110 by providing their
Full Name and Mobile Number.
(ii) The Mobile Number itself will be the
Unique Identity (UID).
(iii) Thereafter while reporting any violation
the UID should always be mentioned so as to
credit the rewards points to the UID.
(iv) The violation shall be reported on
WhatsApp No. 7875756110.
(v) Once a citizen collects 100 points, he/
/she will be given cash reward of Rs. 1,000/-,
after deduction of statutory taxes/charges (as
applicable).
(vi) The cash reward shall be debited from
the Budget Head: Demand No. 17, 3055—Road
Transport; 00; 004—Traffic Sentinel Scheme;
01—Road Safety Education & Training (P);
50—Other Charges.
(vii) The Traffic Sentinel Scheme will be
automated by developing a ‘Mobile
Application’ (“App”) for reporting of violations
by the Traffic Sentinels and ‘Web Application’
for management of Scheme in the due
course.
(viii) Once the App is made operational, it
will be available on “Play Store” (a digital
distribution service operated and developed
by Google) and the WhatsApp Number shall
cease to be operational.
(ix) All Traffic Sentinels enrolled under the
scheme shall download the “App” from the
“Play Store” and upload the violations noticed
by them through the App.
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2133
(x) Terms and conditions relating to
eligibility, responsibilities of the Traffic
Sentinels will be issued through a Standard
Operating Procedure (SOP) to be formulated
by Police Department and the same shall be
binding on all Traffic Sentinels. This SOP shall
be uploaded on “WhatsApp”/“App” as the
case may be.
6. The Traffic Sentinel Scheme shall be
operated and maintained by an officer not
below the rank of Police Sub-Inspector. He/She
shall be assisted by adequate number of sub-
ordinate staff. Dy. Supdt. of Police Traffic (HQ)
shall be the Supervisory Officer under the
overall supervision of Superintendent of Police
(Traffic).
7. The Government shall have the power to
relax any or all clauses or conditions of the
scheme.
8. If any question arises regarding
interpretation of any clause, word, expression
of the scheme, the decision shall vest with the
Government and the same shall be final and
binding on all concerned.
By order and in the name of the Governor
of Goa.
Neetal P. Amonkar, Under Secretary (Home).
Porvorim, 13th November, 2018.
———ttt———
Department of Handicrafts, Textile & Coir
__
Order
2/3/2015/HT&C
In supersession of all the previous orders for creation/revival/re-designation/upgradation
of the various posts, Government is pleased to indicate the final sanctioned staff strength of
the Department as under for the next five years:-
Sr. No.
Designation of the post
Pay Scale
Sanctioned Strength
A
B
C
D
Non-Ministerial (Non-Lapsable) Posts
1.
Director
7th Pay Level-11, Rs. 67700/-
1
2.
Assistant Director (Trg.)
7th Pay Level-10, Rs. 56100/-
1
3.
Technical Officer
7th Pay Level-6, Rs. 35400/-
2
4.
Sr. Technical Specialist (Wood)
7th Pay Level-6, Rs. 35400/-
1
5.
Accountant
7th Pay Level-6, Rs. 35400/-
1
6.
Designer
7th Pay Level-5, Rs. 29200/-
1
7.
Junior Designer
7th Pay Level-4, Rs. 25500/-
1
8.
Technical Assistant
7th Pay Level-5, Rs. 29200/-
5
9.
Master Craftsman
7th Pay Level-5, Rs. 29200/-
8
10.
Handcraft Inspector
7th Pay Level-5, Rs. 29200/-
1
11.
Assistant Craftsman
7th Pay Level-4, Rs. 25500/-
15
12.
Inspector
7th Pay Level-4, Rs. 25500/-
2
13.
Junior Craftsman
7th Pay Level-2, Rs. 19900/-
19
14.
Skilled Worker
7th Pay Level-1, Rs. 18000/-
31
15.
Mechanic
7th Pay Level-2, Rs. 19900/-
1
Ministerial (Lapsable) Posts
1.
Office Superintendent
7th Pay Level-7, Rs. 44900/-
1
2.
Head Clerk
7th Pay Level-6, Rs. 35400/-
1
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2134
A
B
C
D
3.
Sr. Stenographer
7th Pay Level-6, Rs. 35400/-
1
4.
Junior Stenographer
7th Pay Level-4, Rs. 25500/-
1
5.
U.D.C.
7th Pay Level-4, Rs. 25500/-
4
6.
L.D.C.
7th Pay Level-2, Rs. 19900/-
10
7.
Driver
7th Pay Level-2, Rs. 19900/-
3
8.
Peon
7th Pay Level-1, Rs. 18000/-
2
9.
Helpers
7th Pay Level-1, Rs. 18000/-
47
Total
160
This issue with the approval of the High Level Empowered Committee (H.L.E.C.), conveyed
vide letter No. 09/4/IDCO/2018-ARD/249 dated 21-8-2018 issued by the Department of
Administrative Reforms, Secretariat, Porvorim.
By order and in the name of the Governor of Goa.
Maria Seomara D’Souza, Under Secretary (Handicrafts, Textile & Coir).
Porvorim, 13th November, 2018.
———ttt———
Department of Law & Judiciary
Law (Establishment) Division
—
Order
13-5-2013-LD/Estt./P.F./2025
Sanction of the Government is hereby conveyed for conversion of five (5) temporary posts of
Civil Judge Junior Division & JMFC created for the State of Goa vide Order No. 13/5/2013-
-LD(Estt.)/1178 dated 25-8-2015 into permanent ones so as to reduce the pendency for North
and South Goa District Courts in the pay scale of Rs. 27700-770-33090-920-40450-1080-44770/-
under Demand No. 03 & 04.
This issues with the approval of the High Level Empowered Committee (H.L.E.C.)
constituted with the approval of the Council of Ministers in the XXth meeting held on
08-11-2017 vide Order No. 1/1/2017-Addl. Secy. (PER) dated 22-11-2017 issued by the
Department of Personnel.
Approval of the High Level Empowered Committee (H.L.E.C.) is conveyed vide letter
No. 9/11/IDCO/2018-ARD/315 dated 12-10-2018 issued by the Department of Administrative
Reforms, Secretariat, Porvorim-Goa.
By order and in the name of the Governor of Goa.
Diwan N. Rane, Under Secretary (Estt.) (Link).
Porvorim, 13th November, 2018.
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2135
Order
12/10/2018-LD (Estt.)/2071
Sanction of the Government is hereby accorded for creation of the following posts as per
the details shown below:–
District & Sessions Court, South Goa, Margao
Sr. No.
Designation
Pay Scale
Post approved
by HLEC
A
B
C
D
Non-Ministerial (Non-Lapsable) posts
1.
District & Sessions Judges, Margao
Rs. 51550-1230-58930-1380-63070
1
(deputation
reserve)
2.
Senior Civil Judges & Chief Judicial
Rs. 39530-920-40450-1080-49090-
1
Magistrate/Judicial Magistrate
-1230-54010
(deputation
First Class
reserve)
3.
Accountant
Pay Matrix of Level-06
1
Ministerial (Lapsable) posts
4.
Head Clerk/Asst. Sheristedar
Pay Matrix of Level-06
2
5.
U.D.C.
Pay Matrix of Level-04
3
6.
Bench Clerk Grade-III
Pay Matrix of Level-04
2
7.
Jr. Stenographer
Pay Matrix of Level-04
2
8.
L.D.C./Asst. to Nazir
Pay Matrix of Level-02
6
9.
Process Server
Pay Matrix of Level-01
27
10.
System Supervisor
Pay Matrix of Level-04
1
11.
System Assistant
Pay Matrix of Level-02
2
12.
Bailiff
Pay Matrix of Level-02
4
13.
Peon/MTS
Pay Matrix of Level-01
5
Total
57
The expenditure on the creation of the above posts would be met from the Budget Head
mentioned below:–
1.
Budget Head “2014—Administration of Justice; 00—; 105—Civil & Sessions Courts;
01—Civil Judges (South Goa); 01—Salaries (Non-Plan) (Voted)” under Demand No. 04.
2.
Budget Head “2014—Administration of Justice; 00-, 105—Civil & Sessions Courts;
02—District and Sessions Judges (South Goa); 01—Salaries (Non-Plan) (Voted)” under
Demand No. 04.
3.
Budget Head “800—Other Expenditure; 01—Establishment of Fast Track Court; South
Goa (Plan); 01—Salaries (Voted)” under Demand No. 04.
4.
Budget Head “2235—Social Security and Welfare; 60—Other Social Security and Welfare
Programmes; 200—Other Programmes; 04—District Legal Services Authority (South Goa)
(Non Plan); 01—Salaries” under Demand No. 62.
As per the recommendation and approval of the High Level Empowered Committee (H.L.E.C.),
the following posts shall stand abolished, upon superannuation/retirement of the incumbent
or upon the post falling vacant (for whatever reasons).
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2136
Sr.
Designation of the post
Name of the Official
Remarks
No.
Ministerial (Lapsable) posts
holding the post
1.
Watchman & Liftman
Watchman
The posts of Watchman
Pay Scale-Pay Matrix of Level-1
1.
Shri Manoj N. Naik
and Liftman the District
2.
Shri Somnath R. Komarpant
& Subordinate Courts in
3.
Shri Gopalkrishna N. Gaonkar
the South Goa District to
4.
Shri Anil J. Shet
be abolished on super-
5.
Shri Mahendra K. Hadkonkar
annuation of the present
6.
Shri Prakash V. Sawant
incumbents or vacancy
7.
Shri Mohan S. Pauskar
of the post and subse-
8.
Shri Devendra S. Painguinkar
quently be outsourced
9.
Shri Sau Shido Lambor
from the Goa Human
10.
Shri Dinesh Janu Velip
Resource Development
11.
Shri Suraj Ramu Komarpant
Corporation.
12.
Shri Laximan Anand Priolkar
Liftman
1.
Shri Mukesh A. Dessai
2.
Wet Sweepers/Sweepers
Wet Sweepers existing
With regard to the post of
Pay Scale Rs. 4440-7440-1300/-
on temporary status
Wet Sweepers/Sweepers,
(Pre Revised Matrix)
1.
Ms. Mangala M. Borkar
existing on temporary
2.
Ms. Lali D. Gaonkar
status basis, 09 posts in
3.
Ms. Shital S. Naik
South Goa District and
4.
Ms. Urmila Sanvordekar
Subordinate Courts are to
5.
Ms. Sumati D. Borkar
be abolished on vacancy
6.
Ms. Shanta Raju Dessai
of the posts and future
7.
Ms. Divya Dipendra Naik
requirements be outsourced
from Goa Human Resource
Development Corporation.
At present there are only
07 Wet Sweepers on
temporary basis. Further,
the Wet Sweepers/Sweepers
on contract basis existing
in the South Goa District &
Subordinate Courts also to
be outsourced from the
GHRC after expiry of their
contract.
Rs. 4480/- per month
Wet Sweeper on Contract basis
1.
Ms. Abida Bi Mulla alias
Hamidabi Murtuza Qadar Shaikh
3.
Clerk-cum-Typist on daily wages
Clerk-cum-Typist on daily wages
12 posts of Clerk-cum-
Pay Rs. 434/- per day
1. Shri Mario Antonio Gomes
Typist on daily wages
2. Ms. Rekha Shet Shirodkar
existing in South Goa
3. Ms. Hema Shivaji Dessai
District Court are to be
abolished with immediate
effect.
In supersession of all the previous orders for creation/revival/redesignation/upgradation of
the various posts, Government is pleased to indicate the final sanctioned staff strength of the
Department as under for the next five years:–
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2137
District & Sessions Court, South Goa, Margao
Sr. No.
Designation
Pay Scale
Sanction strength
A
B
C
D
Non-Ministerial (Non-Lapsable) posts
1.
Principal District & Sessions Judge
Rs. 51550-1230-58930-1380-63070
1
2.
District & Sessions Judges, Margao
Rs. 51550-1230-58930-1380-63070
5
3.
Ad hoc District Judges & Asst. Sessions
Rs. 51550-1230-58930-1380-63070
2
Judges (FTC-I & II) Margao
4.
Senior Civil Judges & Chief Judicial
Rs. 39530-920-40450-1080-49090-
8
Magistrate/Judicial Magistrate First Class
-1230-54010
5.
Civil Judges, Junior Division & Judicial
Rs. 27700-770-33090-920-40450-
12
Magistrate First Class
-1080-44770
6.
Chief Administrative Officer
Pay Matrix of Level-10
1
7.
Court Manager
Pay Matrix of Level-09
1
8.
Accountant
Pay Matrix of Level-06
1
Ministerial (Lapsable) posts
9.
Superintendent/Protocol Officer-
Pay Matrix of Level-07
11
-cum-Superintendent
10.
Bench Clerk Grade-I
Pay Matrix of Level-07
7
11.
Stenographer Grade-I
Pay Matrix of Level-07
7
12.
Head Clerk/Asst. Sheristedar
Pay Matrix of Level-06
17
13.
Bench Clerk Grade-II
Pay Matrix of Level-06
7
14.
Stenographer Grade-II
Pay Matrix of Level-06
7
15.
Nazir
Pay Matrix of Level-05
11
16.
Upper Division Clerk
Pay Matrix of Level-04
30
17.
Bench Clerk Grade-III
Pay Matrix of Level-04
12
18.
Jr. Stenographer
Pay Matrix of Level-04
15
(To be redesignated as
Stenographer Grade III)
19.
LDC/Asst. to Nazir
Pay Matrix of Level-02
91
20.
Process Server
Pay Matrix of Level-01
27
21.
System Supervisor
Pay Matrix of Level-04
1
22.
System Assistant
Pay Matrix of Level-02
2
23.
Driver
Pay Matrix of Level-02
4
24.
Bailiff
Pay Matrix of Level-02
45
25.
Book Binder
Pay Matrix of Level-02
1
26.
Havildar
Pay Matrix of Level-02
1
27.
Peon/MTS
Pay Matrix of Level-01
50
28.
Liftman
Pay Matrix of Level-01
1
29.
Watchman
Pay Matrix of Level-01
14
Total:
392
This issues with the approval of the High Level Empowered Committee (H.L.E.C.) constituted
with the approval of the Council of Ministers in the XXth meeting held on 8-11-2017 vide Order
No. 1/1/2017-Addl. Secy (PER) dated 22-11-2017 issued by Department of Personnel.
Approval of the High Level Empowered Committee (H.L.E.C.) is conveyed vide letter No. 9/
/11/IDCO/2018-ARD/315 dated 12-10-2018 and letter No. 9/16/IDCO/2018-ARD/362 dated
13-11-2018 issued by the Department of Administrative Reforms, Secretariat.
By order and in the name of the Governor of Goa.
Diwan N. Rane, Under Secretary (Estt.) (Link).
Porvorim, 16th November, 2018.
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2138
Legal Affairs Division
Notification
10/6/2018-LA-134
The Companies (Amendment) Act, 2017
(Central Act No. 1 of 2018), which has been
passed by Parliament and assented to by the
President on 3-1-2018 and published in
the Gazette of India, Extraordinary, Part
II, Section 1 dated 3-1-2018, is hereby
published for the general information of the
public.
Julio Barbosa Noronha, Joint Secretary
(Law).
Porvorim, 14th June, 2018.
________
THE COMPANIES (AMENDMENT)
ACT, 2017
AN
ACT
further to amend the Companies Act, 2013.
Be it enacted by Parliament in the Sixty-
eighth Year of the Republic of India as
follows:—
1. Short title and commencement.— (1)
This Act may be called the Companies
(Amendment) Act, 2017.
(2) It shall come into force on such date as
the Central Government may, by notification
in the Official Gazette, appoint and different
dates may be appointed for different
provisions of this Act and any reference in any
provision to the commencement of this Act
shall be construed as a reference to the coming
into force of that provision.
2. Amendment of section 2.— In
section 2 of the Companies Act, 2013
(hereinafter referred to as the
principal Act),—
(i) in clause (6), for the Explanation, the
following Explanation shall be substituted,
namely:—
‘Explanation.— For the purpose of this
clause,—
(a) the expression “significant
influence” means control of at least
twenty per cent. of total voting power,
or control of or participation in business
decisions under an agreement;
(b) the expression “joint venture”
means a joint arrangement whereby
the parties that have joint control of the
arrangement have rights to the net
assets of the arrangement;’;
(ii) for clause (28), the following clause
shall be substituted, namely:—
‘(28) “Cost Accountant”
means a cost accountant as
defined in clause (b) of
sub-section (1) of section 2 of
the Cost and Works Accountants
Act, 1959 and who holds a valid
certificate of practice under sub-
section (1) of section 6 of that
Act;’;
(iii) in clause (30), the following proviso
shall be inserted, namely:—
“Provided that—
(a)
the
instruments
referred to in Chapter III-D of
the Reserve Bank of India Act,
1934; and
(b) such other instrument, as may be
prescribed by the Central Government
in consultation with the Reserve Bank
of India, issued by a company,
shall not be treated as debenture;”;
(iv) in clause (41), in the first proviso, after
the word “subsidiary”, the words “or
associate company” shall be inserted;
(v) in clause (46), the following Explanation
shall be inserted, namely:—
18 of 2013.
23 of 1959.
2 of 1934.
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2139
‘Explanation.— For the purposes of
this clause, the expression “company”
includes any body corporate;’;
(vi) clause (49) shall be omitted;
(vii) in clause (51),—
(a) in sub-clause (iv), the word “and”
shall be omitted;
(b) for sub-clause (v), the following
sub-clauses shall be substituted,
namely:—
“(v) such other officer, not more than
one level below the directors who is in
whole-time employment, designated as
key managerial personnel by the Board;
and
(vi) such other officer as may be
prescribed;”;
(viii) in clause (57), for the words “and
securities premium account”, the words
“, securities premium account and debit
or credit balance of profit and loss
account,” shall be substituted;
(ix) in clause (71), in sub-clause (a),
after the word “company;”, the word
“and” shall be inserted;
(x) in clause (72), in the proviso, in
clause (A), after the words “State Act”,
the words “other than this Act or the
previous company law” shall be inserted;
(xi) in clause (76), for sub-clause (viii),
the following sub-clause shall be
substituted, namely:—
“(viii) any body corporate which is—
(A) a holding, subsidiary or an
associate company of such company;
(B) a subsidiary of a holding
company to which it is also a
subsidiary; or
(C) an investing company or the
venturer of the company;”;
Explanation.— For the purpose of this
clause, “the investing company or the
venturer of a company” means a body
corporate whose investment in the company
would result in the company becoming an
associate company of the body corporate.
(xii) in clause (85),—
(a) in sub-clause (i), for the words “five
crore rupees”, the words “ten crore rupees”
shall be substituted;
(b) in sub-clause (ii),—
(A) for the words “as per its last profit
and loss account”, the words “as per
profit and loss account for the
immediately preceding financial year”
shall be substituted;
(B) for the words “twenty crore
rupees”, the words “one hundred crore
rupees” shall be substituted;
(xiii) in clause (87), in sub-clause (ii), for
the words “total share capital”, the words
“total voting power” shall be substituted;
(xiv) for clause (91), the following clause
shall be substituted, namely:—
‘(91) “turnover” means the gross
amount of revenue recognised in the
profit and loss account from the sale,
supply, or distribution of goods or on
account of services rendered, or both, by
a company during a financial year;’.
3. Insertion of new section 3A.— After
section 3 of the principal Act, the following
section shall be inserted, namely:—
“3A. Members severally liable in certain
cases.— If at any time the number of
members of a company is reduced, in the
case of a public company, below seven, in
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2140
the case of a private company, below two,
and the company carries on business for
more than six months while the number of
members is so reduced, every person who
is a member of the company during the time
that it so carries on business after those six
months and is cognisant of the fact that it is
carrying on business with less than seven
members or two members, as the case may
be, shall be severally liable for the payment
of the whole debts of the company
contracted during that time, and may be
severally sued therefor.”.
4. Amendment of section 4.— In section 4
of the principal Act, in sub-section (5), for
clause (i), the following shall be substituted,
namely:—
“(i) Upon receipt of an application under
sub-section (4), the Registrar may, on the
basis of information and documents
furnished along with the application,
reserve the name for a period of twenty
days from the date of approval or such other
period as may be prescribed:
Provided that in case of an application for
reservation of name or for change of its
name by an existing company, the Registrar
may reserve the name for a period of sixty
days from the date of approval.”.
5. Amendment of section 7.— In section 7
of the principal Act, in sub-section (1), in item
(c), for the words “an affidavit”, the words
“a declaration” shall be substituted.
6. Amendment of section 12.— In section
12 of the principal Act,—
(i) in sub-section (1), for the words “on
and from the fifteenth day of its
incorporation”, the words “within thirty
days of its incorporation” shall be
substituted;
(ii) in sub-section (4), for the words
“within fifteen days”, the words “within
thirty days” shall be substituted.
7. Amendment of section 21.— In section
21 of the principal Act, for the words “an
officer of the company”, the words “an officer
or employee of the company” shall be
substituted.
8. Amendment of section 26.— In section
26 of the principal Act, in sub-section (1),—
(i) after the words “signed and shall”, the
following shall be inserted, namely:—
“State such information and set out
such reports on financial information as
may be specified by the Securities and
Exchange Board in consultation with the
Central Government:
Provided that until the
Securities and Exchange Board
specifies the information and
reports on financial information
under this sub-section, the
regulations made by the
Securities and Exchange Board
under the Securities and
Exchange Board of India Act,
1992, in respect of such financial
information or reports on
financial information shall
apply.”;
(ii) clauses (a), (b) and (d) shall be omitted.
9. Amendment of section 35.— In section
35 of the principal Act, in sub-section (2), after
clause (b), the following clause shall be
inserted, namely:—
“(c) that, as regards every misleading
statement purported to be made by an
expert or contained in what purports to be
a copy of or an extract from a report or
valuation of an expert, it was a correct and
fair representation of the statement, or a
correct copy of, or a correct and fair extract
from, the report or valuation; and he had
reasonable ground to believe and did up to
the time of the issue of the prospectus
believe, that the person making the
statement was competent to make it and that
the said person had given the consent
required by sub-section (5) of section 26 to
15 of 1992.
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the issue of the prospectus and had not
withdrawn that consent before delivery of
a copy of the prospectus for registration
or, to the defendant’s knowledge, before
allotment thereunder.”.
10. Substitution of new section for section
42.— For section 42 of the principal Act, the
following section shall be substituted,
namely:—
‘42. Issue of shares on private placement
basis.— (1) A company may, subject to the
provisions of this section, make a private
placement of securities.
(2) A private placement shall be made only
to a select group of persons who have been
identified by the Board (herein referred to as
“identified persons”), whose number shall not
exceed fifty or such higher number as may
be prescribed [excluding the qualified
institutional buyers and employees of the
company being offered securities under a
scheme of employees stock option in terms of
provisions of clause (b) of sub-section (1) of
section 62], in a financial year subject to such
conditions as may be prescribed.
(3) A company making private placement
shall issue private placement offer and
application in such form and manner as may
be prescribed to identified persons, whose
names and addresses are recorded by the
company in such manner as may be
prescribed:
Provided that the private placement offer
and application shall not carry any right of
renunciation.
Explanation I.— “private placement”
means any offer or invitation to subscribe or
issue of securities to a select group of persons
by a company (other than by way of public
offer) through private placement offer-cum-
application, which satisfies the conditions
specified in this section.
Explanation
II.—
“qualified
institutional buyer” means the
qualified institutional buyer as
defined in the Securities and
Exchange Board of India (Issue of
Capital and Disclosure Require-
ments) Regulations, 2009, as
amended from time to time, made
under the Securities and Exchange
Board of India Act, 1992.
Explanation III.— If a company, listed or
unlisted, makes an offer to allot or invites
subscription, or allots, or enters into an
agreement to allot, securities to more than the
prescribed number of persons, whether the
payment for the securities has been received
or not or whether the company intends to list
its securities or not on any recognised stock
exchange in or outside India, the same shall
be deemed to be an offer to the public and
shall accordingly be governed by the
provisions of Part I of this Chapter.
(4) Every identified person willing to
subscribe to the private placement issue shall
apply in the private placement and application
issued to such person alongwith subscription
money paid either by cheque or demand
draft or other banking channel and not by
cash:
Provided that a company shall not utilise
monies raised through private placement
unless allotment is made and the return of
allotment is filed with the Registrar in
accordance with sub-section (8).
(5) No fresh offer or invitation under this
section shall be made unless the allotments
with respect to any offer or invitation made
earlier have been completed or that offer or
invitation has been withdrawn or abandoned
by the company:
Provided that, subject to the maximum
number of identified persons under sub-
-section (2), a company may, at any time, make
more than one issue of securities to such class
of identified persons as may be prescribed.
15 of 1992.
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(6) A company making an offer or invitation
under this section shall allot its securities
within sixty days from the date of receipt of
the application money for such securities and
if the company is not able to allot the securities
within that period, it shall repay the
application money to the subscribers within
fifteen days from the expiry of sixty days and
if the company fails to repay the application
money within the aforesaid period, it shall be
liable to repay that money with interest at the
rate of twelve per cent. per annum from the
expiry of the sixtieth day:
Provided that monies received on
application under this section shall be kept in
a separate bank account in a scheduled bank
and shall not be utilised for any purpose other
than—
(a) for adjustment against allotment of
securities; or
(b) for the repayment of monies where the
company is unable to allot securities.
(7) No company issuing securities under
this section shall release any public
advertisements or utilise any media,
marketing or distribution channels or agents
to inform the public at large about such an
issue.
(8) A company making any allotment of
securities under this section, shall file with the
Registrar a return of allotment within fifteen
days from the date of the allotment in such
manner as may be prescribed, including a
complete list of all allottees, with their full
names, addresses, number of securities
allotted and such other relevant information
as may be prescribed.
(9) If a company defaults in filing the return
of allotment within the period prescribed
under sub-section (8), the company, its
promoters and directors shall be liable to a
penalty for each default of one thousand
rupees for each day during which such default
continues but not exceeding twenty-five lakh
rupees.
(10) Subject to sub-section (11), if a
company makes an offer or accepts monies in
contravention of this section, the company, its
promoters and directors shall be liable for a
penalty which may extend to the amount
raised through the private placement or two
crore rupees, whichever is lower, and the
company shall also refund all monies with
interest as specified in sub-section (6) to
subscribers within a period of thirty days of
the order imposing the penalty.
(11) Notwithstanding anything
contained in sub-section (9) and sub-
-section (10), any private placement
issue not made in compliance of the
provisions of sub-section (2) shall be
deemed to be a public offer and all
the provisions of this Act and the
Securities Contracts (Regulation) Act,
1956 and the Securities and
Exchange Board of India Act, 1992
shall be applicable.’.
11. Amendment of section 47.— In section
47, in sub-section (1), for the words, figures
and brackets “provisions of section 43 and
sub-section (2) of section 50”, the words,
figures and brackets “provisions of section 43,
sub-section (2) of section 50 and sub-section
(1) of section 188” shall be substituted.
12. Amendment of section 53.— In section
53 of the principal Act,—
(i) in sub-section (2), for the words
“discounted price”, the word “discount”
shall be substituted;
(ii) after sub-section (2), the following
sub-section shall be inserted, namely:—
“(2A) Notwithstanding any-
thing contained in sub-sections
(1) and (2), a company may
issue shares at a discount to its
creditors when its debt is
converted into shares in
pursuance of any statutory
resolution
plan
or
debt
restructuring
scheme
in
accordance with any guidelines
or directions or regulations
specified by the Reserve Bank
42 of 1956.
15 of 1992.
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of India under the Reserve Bank
of India Act, 1934 or the Banking
(Regulation) Act, 1949.”.
13. Amendment of section 54.— In section
54, in sub-section (1), clause (c) shall be
omitted.
14. Amendment of section 62.— In section
62 of the principal Act,—
(i) in sub-section (1), in clause (c), for the
words “of a registered valuer subject to such
conditions as may be prescribed”, the words
and figures “of a registered valuer, subject to
the compliance with the applicable provisions
of Chapter III and any other conditions as may
be prescribed” shall be substituted;
(ii) for sub-section (2), the following sub-
-section shall be substituted, namely:—
“(2) The notice referred to in sub-clause
(i) of clause (a) of sub-section (1) shall be
dispatched through registered post or
speed post or through electronic mode or
courier or any other mode having proof of
delivery to all the existing shareholders at
least three days before the opening of the
issue.”.
15. Amendment of section 73.— In section
73 of the principal Act, in sub-section (2),—
(i) for clause (c), the following clause shall
be substituted, namely:—
“(c) depositing, on or before the thirtieth
day of April each year, such sum which shall
not be less than twenty per cent. of the
amount of its deposits maturing during the
following financial year and kept in a
scheduled bank in a separate bank account
to be called deposit repayment reserve
account;”;
(ii) clause (d) shall be omitted;
(iii) in clause (e), for the words “such
deposits;”, the following shall be substituted,
namely:—
“such deposits and where a default had
occurred, the company made good the
default and a period of five years had lapsed
since the date of making good the default;”.
16. Amendment of section 74.— In section
74, in sub-section (1), for clause (b), the
following clause shall be substituted,
namely:—
“(b) repay within three years from such
commencement or on or before expiry of the
period for which the deposits were
accepted, whichever is earlier:
Provided that renewal of any such
deposits shall be done in accordance with
the provisions of Chapter V and the rules
made thereunder.”.
17. Amendment of section 76A.— In section
76A of the principal Act,—
(a) in clause (a), for the words, “one crore
rupees”, the words “one crore rupees or twice
the amount of deposit accepted by the
company, whichever is lower” shall be
substituted;
(b) in clause (b),—
(i) for the words “seven years or with
fine”, the words “seven years and with fine”
shall be substituted;
(ii) the words “or with both” shall be
omitted.
18. Amendment of section 77.— In section
77 of the principal Act, in sub-section (1), after
the third proviso, the following proviso shall
be inserted, namely:—
“Provided also that this section shall not
apply to such charges as may be prescribed
in consultation with the Reserve Bank of
India.”.
19. Amendment of section 78.— In section
78 of the principal Act, for the words and
figures “register the charge within the period
specified in section 77”, the words, brackets
2 of 1934.
10 of 1949.
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and figures “register the charge within the
period of thirty days referred to in sub-section
(1) of section 77” shall be substituted.
20. Amendment of section 82.— In section
82 of the principal Act, in sub-section (1),—
(i) the words, brackets and figures “and the
provisions of sub-section (1) of section 77 shall,
as far as may be, apply to an intimation given
under this section” shall be omitted;
(ii) the following proviso shall be inserted,
namely:—
“Provided that the Registrar may, on an
application by the company or the charge
holder, allow such intimation of payment or
satisfaction to be made within a period of
three hundred days of such payment or
satisfaction on payment of such additional
fees as may be prescribed.”.
21. Amendment of section 89.— In section
89 of the principal Act,—
(i) in sub-section (6), the words and
figures, “within the time specified under
section 403” shall be omitted;
(ii) in sub-section (7), for the words and
figures, “under the first proviso to sub-
section (1) of section 403”, the word
“therein”, shall be substituted;
(iii) after sub-section (9), the following
sub-section shall be inserted, namely:—
“(10) For the purposes of this section
and section 90, beneficial interest in a
share includes, directly or indirectly,
through any contract, arrangement or
otherwise, the right or entitlement of a
person alone or together with any other
person to—
(i) exercise or cause to be exercised
any or all of the rights attached to such
share; or
(ii) receive or participate in any
dividend or other distribution in
respect of such share.”.
22. Substitution of new section for section
90.— For section 90 of the principal Act, the
following section shall be substituted,
namely:—
‘90. Register of significant beneficial
owners in a company.— (1) Every
individual, who acting alone or together, or
through one or more persons or trust,
including a trust and persons resident
outside India, holds beneficial interests, of
not less than twenty-five per cent. or such
other percentage as may be prescribed, in
shares of a company or the right to exercise,
or the actual exercising of significant
influence or control as defined in clause (27)
of section 2, over the company (herein
referred to as “significant beneficial
owner”), shall make a declaration to the
company, specifying the nature of his
interest and other particulars, in such
manner and within such period of
acquisition of the beneficial interest or rights
and any change thereof, as may be
prescribed:
Provided that the Central Government may
prescribe a class or classes of persons who
shall not be required to make declaration
under this sub-section.
(2) Every company shall maintain a register
of the interest declared by individuals under
sub-section (1) and changes therein which
shall include the name of individual, his date
of birth, address, details of ownership in the
company and such other details as may be
prescribed.
(3) The register maintained under sub-
-section (2) shall be open to inspection by any
member of the company on payment of such
fees as may be prescribed.
(4) Every company shall file a return of
significant beneficial owners of the company
and changes therein with the Registrar
containing names, addresses and other
details as may be prescribed within such time,
in such form and manner as may be
prescribed.
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(5) A company shall give notice, in the
prescribed manner, to any person (whether
or not a member of the company) whom the
company knows or has reasonable cause to
believe—
(a) to be a significant beneficial owner of
the company;
(b) to be having knowledge of the identity
of a significant beneficial owner or another
person likely to have such knowledge; or
(c) to have been a significant beneficial
owner of the company at any time during
the three years immediately preceding the
date on which the notice is issued,
and who is not registered as a significant
beneficial owner with the company as
required under this section.
(6) The information required by the notice
under sub-section (5) shall be given by the
concerned person within a period not
exceeding thirty days of the date of the notice.
(7) The company shall,—
(a) where that person fails to give the
company the information required by
the notice within the time specified therein;
or
(b) where the information given is not
satisfactory, apply to the Tribunal within a
period of fifteen days of the expiry of the
period specified in the notice, for an order
directing that the shares in question be
subject to restrictions with regard to transfer
of interest, suspension of all rights attached
to the shares and such other matters as may
be prescribed.
(8) On any application made under sub-
-section (7), the Tribunal may, after giving an
opportunity of being heard to the parties
concerned, make such order restricting the
rights attached with the shares within a period
of sixty days of receipt of application or such
other period as may be prescribed.
(9) The company or the person aggrieved
by the order of the Tribunal may make an
application to the Tribunal for relaxation or
lifting of the restrictions placed under sub-
-section (8).
(10) If any person fails to make a declaration
as required under sub-section (1), he shall be
punishable with fine which shall not be less
than one lakh rupees but which may extend
to ten lakh rupees and where the failure is a
continuing one, with a further fine which may
extend to one thousand rupees for every day
after the first during which the failure
continues.
(11) If a company, required to maintain
register under sub-section (2) and file the
information under sub-section (4), fails to do
so or denies inspection as provided therein,
the company and every officer of the company
who is in default shall be punishable with fine
which shall not be less than ten lakh rupees
but which may extend to fifty lakh rupees and
where the failure is a continuing one, with a
further fine which may extend to one
thousand rupees for every day after the first
during which the failure continues.
(12) If any person wilfully furnishes any false
or incorrect information or suppresses any
material information of which he is aware in
the declaration made under this section, he
shall be liable to action under section 447.’.
23. Amendment of section 92.— In section
92 of the principal Act,—
(i) in sub-section (1),—
(a) clause (c) shall be omitted;
(b) in clause (j), the words “indicating
their names, addresses, countries of
incorporation, registration and percentage
of shareholding held by them” shall be
omitted;
(c) after the proviso, the following proviso
shall be inserted, namely:—
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‘Provided further that the Central
Government may prescribe abridged form
of annual return for “One Person Company,
small company and such other class or
classes of companies as may be
prescribed”.’.
(ii) for sub-section (3), the following sub-
-section shall be substituted, namely:—
“(3) Every company shall place a copy of
the annual return on the website of the
company, if any, and the web-link of such
annual return shall be disclosed in the
Board’s report.”.
(iii) in sub-section (4), the words and
figures, “within the time as specified, under
section 403” shall be omitted;
(iv) in sub-section (5), for the words and
figures, “under section 403 with additional
fees” the word “therein” shall be substituted.
24. Omission of section 93.— Section 93 of
the principal Act shall be omitted.
25. Amendment of section 94.— In section
94 of the principal Act,—
(i) in sub-section (1), in the first proviso, the
words “and the Registrar has been given a
copy of the proposed special resolution in
advance” shall be omitted;
(ii) in sub-section (3), the following proviso
shall be inserted, namely:—
“Provided that such particulars of the
register or index or return as may be
prescribed shall not be available for
inspection under sub-section (2) or for
taking extracts or copies under this sub-
-section.”.
26. Amendment of section 96.— In section
96 of the principal Act, in sub-section (2), in
the proviso, for the words
“Provided that”, the following shall be
substituted, namely:—
“Provided that annual general meeting
of an unlisted company may be held at any
place in India if consent is given in writing
or by electronic mode by all the members
in advance:
Provided further that”.
27. Amendment of section 100.— In section
100 of the principal Act, in sub-section (1), the
following proviso shall be inserted, namely:—
“Provided that an extraordinary general
meeting of the company, other than of the
wholly owned subsidiary of a company
incorporated outside India, shall be held at
a place within India.”.
28. Amendment of section 101.— In section
101 of the principal Act, in sub-section (1), for
the proviso, the following proviso shall be
substituted, namely:—
“Provided that a general meeting may be
called after giving shorter notice than that
specified in this sub-section if consent, in
writing or by electronic mode, is accorded
thereto—
(i) in the case of an annual general
meeting, by not less than ninty-five per cent.
of the members entitled to vote thereat; and
(ii) in the case of any other general
meeting, by members of the company—
(a) holding, if the company has a share
capital, majority in number of members
entitled to vote and who represent not less
than ninety-five per cent. of such part of
the paid-up share capital of the company
as gives a right to vote at the meeting; or
(b) having, if the company has no share
capital, not less than ninty-five per cent.
of the total voting power exercisable at
that meeting:
Provided further that where any member
of a company is entitled to vote only on some
resolution or resolutions to be moved at a
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meeting and not on the others, those members
shall be taken into account for the purposes
of this sub-section in respect of the former
resolution or resolutions and not in respect of
the latter.”.
29. Amendment of section 110.— In section
110 of the principal Act, in sub-section (1), the
following proviso shall be inserted, namely:—
“Provided that any item of business
required to be transacted by means of postal
ballot under clause (a), may be transacted
at a general meeting by a company which
is required to provide the facility to
members to vote by electronic means under
section 108, in the manner provided in that
section.”.
30. In section 117 of the principal Act,—
(i) in sub-section (1), the words and
figures “within the time specified under
section 403” shall be omitted;
(ii) in sub-section (2),—
(a) for the words and figures “under
section 403 with additional fees”, the
word “therein” shall be substituted;
(b) for the words “not be less than five
lakh rupees”, the words “not be less than
one lakh rupees” shall be substituted;
(c) for the words “one lakh rupees”, the
words “fifty thousand rupees” shall be
substituted;
(iii) in sub-section (3),—
(a) clause (e) shall be omitted;
(b) in clause (g), in the proviso, the
word “and” shall be omitted and the
following proviso shall be inserted,
namely:—
“Provided further that nothing
contained in this clause shall apply to a
banking company in respect of a
resolution passed to grant loans, or give
guarantee or provide security in respect
of loans under clause (f) of sub-section
(3) of section 179 in the ordinary course
of its business; and.”.
31. Amendment of section 121.— In section
121 of the principal Act,—
(i) in sub-section (2), the words and
figures “within the time as specified, under
section 403” shall be omitted;
(ii) in sub-section (3), for the words and
figures “under section 403 with additional
fees”, the word “therein” shall be
substituted.
32. Amendment of section 123.— In section
123 of the principal Act,—
(a) in sub-section (1),—
(i) in clause (a),—
(A) for the words “both; or”, the word
“both:” shall be substituted;
(B) the following proviso shall be
inserted, namely:—
“Provided that in computing profits
any amount representing unrealised
gains, notional gains or revaluation of
assets and any change in carrying
amount of an asset or of a liability on
measurement of the asset or the liability
at fair value shall be excluded; or”;
(ii) in the second proviso, for the words
“transferred by the company to the
reserves”, the words “transferred by the
company to the free reserves” shall be
substituted;
(b) for sub-section (3), the following sub-
-section shall be substituted, namely:—
“(3) The Board of Directors of a company
may declare interim dividend during any
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financial year or at any time during the
period from closure of financial year till
holding of the annual general meeting out
of the surplus in the profit and loss account
or out of profits of the financial year for
which such interim dividend is sought to
be declared or out of profits generated in
the financial year till the quarter preceding
the date of declaration of the interim
dividend:
Provided that in case the company has
incurred loss during the current financial year
up to the end of the quarter immediately
preceding the date of declaration of interim
dividend, such interim dividend shall not be
declared at a rate higher than the average
dividends declared by the company during
immediately preceding three financial years.”.
33. Amendment of section 129.— In section
129 of the principal Act, for sub-section (3),
the following sub-section shall be substituted,
namely:—
“(3) Where a company has one or more
subsidiaries or associate companies, it shall,
in addition to financial statements provided
under sub-section (2), prepare a consoli-
dated financial statement of the company
and of all the subsidiaries and associate
companies in the same form and manner
as that of its own and in accordance with
applicable accounting standards, which
shall also be laid before the annual general
meeting of the company along with the
laying of its financial statement under sub-
-section (2):
Provided that the company shall also attach
along with its financial statement, a separate
statement containing the salient features of the
financial statement of its subsidiary or
subsidiaries and associate company or
companies in such form as may be prescribed:
Provided further that the Central
Government may provide for the consolidation
of accounts of companies in such manner as
may be prescribed.”.
34. Amendment of section 130.— In section
130 of the principal Act,—
(i) in sub-section (1), in the proviso,—
(a) after the words “regulatory body or
authorities concerned”, the words “or any
other person concerned” shall be inserted;
(b) after the words “the body or authority
concerned”, the words “or the other person
concerned” shall be inserted;
(ii) after sub-section (2), the following sub-
-section shall be inserted, namely:—
“(3) No order shall be made under sub-
-section (1) in respect of re-opening of books
of account relating to a period earlier than
eight financial years immediately preceding
the current financial year:
Provided that where a direction has been
issued by the Central Government under the
proviso to sub-section (5) of section 128 for
keeping of books of account for a period longer
than eight years, the books of account may be
ordered to be re-opened within such longer
period.”.
35. Amendment of section 132.— In section
132 of the principal Act,—
(i) in sub-section (4), in clause (c), in sub-
-clause (A), in item (II), for the words “ten
lakh rupees”, the words “five lakh rupees”
shall be substituted;
(ii) in sub-section (5), for the words,
brackets and figure “the Appellate
Authority constituted under sub-section (6)
in such manner as may be prescribed”, the
words “the Appellate Tribunal in such
manner and on payment of such fee as may
be prescribed” shall be substituted;
(iii) sub-sections (6), (7), (8) and (9) shall
be omitted.
36. Amendment of section 134.— In section
134 of the principal Act,—
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(a) for sub-section (1), the following sub-
-section shall be substituted, namely:—
“(1) The financial statement, including
consolidated financial statement, if any,
shall be approved by the Board of Directors
before they are signed on behalf of the Board
by the chairperson of the company where
he is authorised by the Board or by two
directors out of which one shall be
managing director, if any, and the Chief
Executive Officer, the Chief Financial Officer
and the company secretary of the company,
wherever they are appointed, or in the case
of One Person Company, only by one
director, for submission to the auditor for his
report thereon.”;
(b) in sub-section (3),—
(i) for clause (a), the following clause shall
be substituted, namely:—
“(a) the web address, if any, where
annual return referred to in sub-section
(3) of section 92 has been placed;”;
(ii) in clause (p), for the words “annual
evaluation has been made by the Board of
its own performance and that of its
committees and individual directors”, the
words “annual evaluation of the per-
formance of the Board, its Committees and
of individual directors has been made” shall
be substituted;
(iii) after clause (q), the following provisos
shall be inserted, namely:—
“Provided that where disclosures
referred to in this sub-section have been
included in the financial statements,
such disclosures shall be referred to
instead of being repeated in the Board’s
report:
Provided further that where the policy
referred to in clause (e) or clause (o) is made
available on company’s website, if any, it
shall be sufficient compliance of the
requirements under such clauses if the
salient features of the policy and any change
therein are specified in brief in the Board’s
report and the web-address is indicated
therein at which the complete policy is
available.”;
(c) after sub-section (3), the following sub-
-section shall be inserted, namely:—
“(3A) The Central Government may
prescribe an abridged Board’s report, for
the purpose of compliance with this section
by One Person Company or small
company.”.
37. Amendment of section 135.— In section
135 of the principal Act,—
(i) in sub-section (1),—
(a) for the words “any financial year”,
the words “the immediately preceding
financial year” shall be substituted;
(b) the following proviso shall be inserted,
namely:—
“Provided that where a company is not
required to appoint an independent
director under sub-section (4) of section
149, it shall have in its Corporate Social
Responsibility Committee two or more
directors.”;
(ii) in sub-section (3), in clause (a), for the
words and figures “as specified in Schedule
VII”, the words and figures “in areas or
subject, specified in Schedule VII” shall be
substituted;
(iii) in sub-section (5), for the Explanation,
the following Explanation shall be substituted,
namely:—
‘Explanation.— For the purposes of this
section “net profit” shall not include such
sums as may be prescribed, and shall be
calculated in accordance with the
provisions of section 198.’.
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38. Amendment of section 136.— In section
136 of the principal Act,—
(i) in sub-section (1),—
(a) the words and figures “Without
prejudice to the provisions of section 101,”
shall be omitted;
(b) in the first proviso, for the words
“Provided that”, the following shall be
substituted, namely:—
“Provided that if the copies of the
documents are sent less than twenty-one
days before the date of the meeting, they
shall, notwithstanding that fact, be deemed
to have been duly sent if it is so agreed by
members—
(a) holding, if the company has a share
capital, majority in number entitled to vote
and who represent not less than ninety-five
per cent. of such part of the paid-up share
capital of the company as gives a right to
vote at the meeting; or
(b) having, if the company has no share
capital, not less than ninetyfive per cent. of
the total voting power exercisable at the
meeting:
Provided further that”;
(c) in the second proviso, for the words
“Provided further”, the words,
“Provided also” shall be substituted;
(d) for the fourth proviso, the following
provisos shall be substituted, namely:—
‘Provided also that every listed company
having a subsidiary or subsidiaries shall
place separate audited accounts in respect
of each of subsidiary on its website, if any:
Provided also that a listed company
which has a subsidiary incorporated
outside India (herein referred to as “foreign
subsidiary”)—
(a) where such foreign subsidiary
is statutorily required to prepare
consolidated financial statement under
any law of the country of its
incorporation, the requirement of this
proviso shall be met if consolidated
financial statement of such foreign
subsidiary is placed on the website of the
listed company;
(b) where such foreign subsidiary is
not required to get its financial statement
audited under any law of the country of
its incorporation and which does not get
such financial statement audited, the
holding Indian listed company may place
such unaudited financial statement on its
website and where such financial
statement is in a language other than
English, a translated copy of the financial
statement in English shall also be placed
on the website.’;
(ii) in sub-section (2), the following proviso
shall be inserted, namely:—
“Provided that every company having a
subsidiary or subsidiaries shall provide a
copy of separate audited or unaudited
financial statements, as the case may be,
as prepared in respect of each of its
subsidiary to any member of the company
who asks for it.”.
39. Amendment of section 137.— In section
137 of the principal Act,—
(i) in sub-section (1),—
(a) the words and figures “within the time
specified under section 403” shall be
omitted;
(b) in the second proviso, the words and
figures “within the time specified under
section 403” shall be omitted;
(c) after the fourth proviso, the following
proviso shall be inserted, namely:—
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‘Provided also that in the case of a
subsidiary which has been incorporated
outside India (herein referred to as “foreign
subsidiary”), which is not required to get
its financial statement audited under any
law of the country of its incorporation and
which does not get such financial statement
audited, the requirements of the fourth
proviso shall be met if the holding Indian
company files such unaudited financial
statement along with a declaration to this
effect and where such financial statement
is in a language other than English, along
with a translated copy of the financial
statement in English.’.
(ii) in sub-section (2), the words and figures
“within the time specified, under section 403”
shall be omitted;
(iii) in sub-section (3), for the words and
figures “in section 403”, the word “therein”
shall be substituted.
40. Amendment of section 139.— In section
139 of the principal Act, in sub-section (1), the
first proviso shall be omitted.
41. Amendment of section 140.— In section
140 of the principal Act, in sub-section (3), for
the words “fifty thousand rupees”, the words
“fifty thousand rupees or the remuneration of
the auditor, whichever is less,” shall be
substituted.
42. Amendment of section 141.— In section
141 of the principal Act, in sub-section (3), for
clause (i), the following clause shall be
substituted, namely:—
‘(i) a person who, directly or indirectly,
renders any service referred to in section
144 to the company or its holding company
or its subsidiary company.
Explanation.— For the purposes of this
clause, the term “directly or indirectly” shall
have the meaning assigned to it in the
Explanation to section 144.’.
43. Amendment of section 143.— In section
143 of the principal Act,—
(i) in sub-section (1), in the proviso, for the
words “its subsidiaries”, at both the places,
the words “its subsidiaries and associate
companies” shall be substituted;
(ii) in sub-section (3), in clause (i), for the
words “internal financial controls system”, the
words “internal financial controls with
reference to financial statements” shall be
substituted;
(iii) in sub-section (14), in clause (a), for the
words “cost accountant in practice”, the
words “cost accountant” shall be substituted.
44. Amendment of section 147.— In section
147 of the principal Act,—
(i) in sub-section (2),—
(a) after the words “five lakh rupees”, the
words “or four times the remuneration of
the auditor, whichever is less” shall be
inserted;
(b) in the proviso, for the words “and with
fine which shall not be less than one lakh
rupees but which may extend to twenty-
-five lakh rupees”, the words “and with fine
which shall not be less than fifty thousand
rupees but which may extend to twenty-
-five lakh rupees or eight times the
remuneration of the auditor, whichever is
less” shall be substituted;
(ii) in sub-section (3), in clause (ii), for the
words “or to any other persons”, the words
“or to members or creditors of the company”
shall be substituted;
(iii) in sub-section (5), the following proviso
shall be inserted, namely:—
“Provided that in case of criminal liability
of an audit firm, in respect of liability other
than fine, the concerned partner or
partners, who acted in a fraudulent manner
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or abetted or, as the case may be, colluded
in any fraud shall only be liable.”.
45. Amendment of section 148.— In section
148 of the principal Act,—
(i) in sub-section (3),—
(a) for the words “Cost Accountant in
practice”, the words “cost accountant”
shall be substituted;
(b) in the Explanation, for the words
“Institute of Cost and Works Accountants
of India”, the words “Institute of Cost
Accountants of India” shall be substituted;
(ii) in sub-section (5), in the proviso, for the
words “cost accountant in practice”, the
words “cost accountant” shall be substituted.
46. Amendment of section 149.— In section
149 of the principal Act,—
(i) for sub-section (3), the following sub-
-section shall be substituted, namely:—
“(3) Every company shall have at least
one director who stays in India for a total
period of not less than one hundred and
eighty-two days during the financial year:
Provided that in case of a newly
incorporated company the requirement
under this sub-section shall apply
proportionately at the end of the financial
year in which it is incorporated.”;
(ii) in sub-section (6),—
(a) in clause (c), for the words “pecuniary
relationship”, the words “pecuniary
relationship, other than remuneration as
such director or having transaction not
exceeding ten per cent. of his total income
or such amount as may be prescribed,”
shall be substituted;
(b) for clause (d), the following clause
shall be substituted, namely:—
“(d) none of whose relatives—
(i) is holding any security of or interest
in the company, its holding, subsidiary
or associate company during the two
immediately preceding financial years or
during the current financial year:
Provided that the relative may hold
security or interest in the company of face
value not exceeding fifty lakh rupees or
two per cent. of the paid-up capital of the
company, its holding, subsidiary or
associate company or such higher sum
as may be prescribed;
(ii) is indebted to the company, its
holding, subsidiary or associate company
or their promoters, or directors, in excess
of such amount as may be prescribed
during the two immediately preceding
financial years or during the current
financial year;
(iii) has given a guarantee or provided
any security in connection with the
indebtedness of any third person to the
company, its holding, subsidiary or
associate company or their promoters, or
directors of such holding company, for
such amount as may be prescribed
during the two immediately preceding
financial years or during the current
financial year; or
(iv)
has
any
other
pecuniary
transaction or relationship with the
company, or its subsidiary, or its holding
or associate company amounting to two
per cent. or more of its gross turnover or
total income singly or in combination with
the transactions referred to in sub-clause
(i), (ii) or (iii);”;
(c) in clause (e), in sub-clause (i), the
following proviso shall be inserted,
namely:—
“Provided that in case of a relative who
is an employee, the restriction under this
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clause shall not apply for his employment
during preceding three financial years.”.
47. Amendment of section 152.— In section
152 of the principal Act,—
(a) in sub-section (3), after the word and
figures “section 154”, the words and figures
“or any other number as may be prescribed
under section 153” shall be inserted;
(b) in sub-section (4), after the word
“Number”, the words and figures “or such
other number as may be prescribed under
section 153” shall be inserted.
48. Amendment of section 153.— In section
153 of the principal Act, the following proviso
shall be inserted, namely:—
“Provided that the Central Government
may prescribe any identification number
which shall be treated as Director
Identification Number for the purposes of
this Act and in case any individual holds or
acquires such identification number, the
requirement of this section shall not apply
or apply in such manner as may be
prescribed.”.
49. Amendment of section 157.— In section
157 of the principal Act,—
(i) in sub-section (1), the words and
figures, “within the time specified under
section 403” shall be omitted;
(ii) in sub-section (2), the words and
figures, “before the expiry of the period
specified under section 403 with additional
fee”, shall be omitted.
50. Amendment of section 160.— In section
160 of the principal Act, in sub-section (1), the
following proviso shall be inserted, namely:—
“Provided that requirements of deposit
of amount shall not apply in case of
appointment of an independent director or
a director recommended by the Nomination
and Remuneration Committee, if any,
constituted under sub-section (1) of section
178 or a director recommended by the Board
of Directors of the Company, in the case of
a company not required to constitute
Nomination and Remuneration Committee.”.
51. Amendment of section 161.— In section
161 of the principal Act,—
(i) in sub-section (2), after the words
“alternate directorship for any other director
in the company”, the words “or holding
directorship in the same company” shall be
inserted;
(ii) in sub-section (4),—
(a) the words “In the case of a public
company,” shall be omitted;
(b) after the words “meeting of the
Board”, the words “which shall be
subsequently approved by members in the
immediate next general meeting” shall be
inserted.
52. Amendment of section 164.— In section
164 of the principal Act,—
(i) in sub-section (2), the following proviso
shall be inserted, namely:—
“Provided that where a person is
appointed as a director of a company which
is in default of clause (a) or clause (b), he
shall not incur the disqualification for a
period of six months from the date of his
appointment.”;
(ii) in sub-section (3), for the proviso, the
following proviso shall be substituted,
namely:—
“Provided that the disqualifications
referred to in clauses (d), (e) and (g) of sub-
-section (1) shall continue to apply even if
the appeal or petition has been filed against
the order of conviction or disqualification.”.
53. Amendment of section 165.— In section
165 of the principal Act, in sub-section (1), the
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Explanation shall be renumbered as
Explanation I and after Explanation I as so
numbered, the following Explanation shall be
inserted, namely:—
“Explanation II.— For reckoning the limit
of directorships of twenty companies, the
directorship in a dormant company shall not
be included.”.
54. Amendment of section 167.— In section
167 of the principal Act, in sub-section (1),—
(i) in clause (a), the following proviso shall
be inserted, namely:—
“Provided that where he incurs
disqualification under sub-section (2) of
section 164, the office of the director shall
become vacant in all the companies, other
than the company which is in default under
that sub-section.”;
(ii) in clause (f), for the proviso the following
proviso shall be substituted, namely,—
“Provided that the office shall not be
vacated by the director in case of orders
referred to in clauses (e) and (f)—
(i) for thirty days from the date of
conviction or order of disqualification;
(ii) where an appeal or petition is
preferred within thirty days as aforesaid
against the conviction resulting in
sentence or order, until expiry of seven
days from the date on which such appeal
or petition is disposed of; or
(iii) where any further appeal or
petition is preferred against order
or sentence within seven days, until
such further appeal or petition is
disposed of.”.
55. Amendment of section 168.— In section
168 of the principal Act, in sub-section (1), in
the proviso, for the words, “director shall also
forward”, the words “director may also
forward” shall be substituted.
56. Amendment of section 173.— In section
173 of the principal Act, in sub-section (2), after
the first proviso, the following proviso shall be
inserted, namely:—
“Provided further that where there is
quorum in a meeting through physical
presence of directors, any other director
may participate through video conferencing
or other audio visual means in such meeting
on any matter specified under the first
proviso.”.
57. Amendment of section 177.— In section
177 of the principal Act,—
(i) in sub-section (1), for the words “every
listed company”, the words “every listed
public company” shall be substituted;
(ii) in sub-section (4), in clause (iv), after the
proviso, the following provisos shall be
inserted, namely:—
“Provided further that in case of
transaction, other than transactions
referred to in section 188, and where
Audit Committee does not approve
the transaction, it shall make its
recommendations to the Board:
Provided also that in case any transaction
involving any amount not exceeding one crore
rupees is entered into by a director or officer
of the company without obtaining the
approval of the Audit Committee and it is not
ratified by the Audit Committee within three
months from the date of the transaction, such
transaction shall be voidable at the option of
the Audit Committee and if the transaction is
with the related party to any director or is
authorised by any other director, the director
concerned shall indemnify the company
against any loss incurred by it:
Provided also that the provisions of this
clause shall not apply to a transaction, other
than a transaction referred to in section 188,
between a holding company and its wholly
owned subsidiary company.”.
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58. Amendment of section 178.— In section
178 of the principal Act,—
(i) in sub-section (1), for the words “every
listed company”, the words “every listed
public company” shall be substituted;
(ii) in sub-section (2), for the words “shall
carry out evaluation of every director’s
performance”, the words “shall specify the
manner for effective evaluation of performance
of Board, its committees and individual
directors to be carried out either by the Board,
by the Nomination and Remuneration
Committee or by an independent external
agency and review its implementation and
compliance” shall be substituted;
(iii) in sub-section (4), in clause (c), for the
proviso, the following proviso shall be
substituted, namely:—
“Provided that such policy shall be
placed on the website of the company, if
any, and the salient features of the policy
and changes therein, if any, along with the
web address of the policy, if any, shall be
disclosed in the Board’s report.”;
(iv) in sub-section (8), in the proviso, for the
words “non-consideration of resolution of any
grievance”, the words “inability to resolve or
consider any grievance” shall be substituted.
59. Amendment of section 180.— In section
180 of the principal Act, in sub-section (1), in
clause (c), for the words “paid-up share capital
and free reserves”, the words “paid-up share
capital, free reserves and securities premium”
shall be substituted.
60. Amendment of section 184.— In section
184 of the principal Act,—
(i) in sub-section (4), the words “shall not
be less than fifty thousand rupees but which”
shall be omitted;
(ii) in sub-section (5), for clause (b), the
following clause shall be substituted,
namely:—
“(b) shall apply to any contract or
arrangement entered into or to be entered
into between two companies or between
one or more companies and one or more
bodies corporate where any of the directors
of the one company or body corporate or
two or more of them together holds or hold
not more than two per cent. of the paid-up
share capital in the other company or the
body corporate.”.
61. Substitution of new section for section
185.— For section 185 of the principal Act, the
following section shall be substituted,
namely:—
‘185. Loans to directors, etc.— (1) No
company shall, directly or indirectly,
advance any loan, including any loan
represented by a book debt to, or give any
guarantee or provide any security in
connection with any loan taken by,—
(a) any director of company, or of a
company which is its holding company
or any partner or relative of any such
director; or
(b) any firm in which any such director
or relative is a partner.
(2) A company may advance any loan
including any loan represented by a book debt,
or give any guarantee or provide any security
in connection with any loan taken by any
person in whom any of the director of the
company is interested, subject to the
condition that—
(a) a special resolution is passed by the
company in general meeting:
Provided that the explanatory statement
to the notice for the relevant general
meeting shall disclose the full particulars
of the loans given, or guarantee given or
security provided and the purpose for which
the loan or guarantee or security is proposed
to be utilised by the recipient of the loan or
guarantee or security and any other
relevant fact; and
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(b) the loans are utilised by the borrowing
company for its principal business activities.
Explanation.— For the purposes of this sub-
-section, the expression “any person in whom
any of the director of the company is
interested” means—
(a) any private company of which any
such director is a director or member;
(b) any body corporate at a general
meeting of which not less than twenty-five
per cent. of the total voting power may be
exercised or controlled by any such director,
or by two or more such directors, together;
or
(c) any body corporate, the Board of
directors, managing director or manager,
whereof is accustomed to act in accordance
with the directions or instructions of the
Board, or of any director or directors, of the
lending company.
(3) Nothing contained in sub-sections (1)
and (2) shall apply to—
(a) the giving of any loan to a managing
or whole-time director—
(i) as a part of the conditions of service
extended by the company to all its
employees; or
(ii) pursuant to any scheme approved
by the members by a special resolution;
or
(b) a company which in the ordinary
course of its business provides loans or
gives guarantees or securities for the due
repayment of any loan and in respect of such
loans an interest is charged at a rate not
less than the rate of prevailing yield of one
year, three years, five years or ten years
Government security closest to the tenor of
the loan; or
(c) any loan made by a holding company
to its wholly owned subsidiary company or
any guarantee given or security provided
by a holding company in respect of any loan
made to its wholly owned subsidiary
company; or
(d) any guarantee given or security
provided by a holding company in respect
of loan made by any bank or financial
institution to its subsidiary company:
Provided that the loans made under
clauses (c) and (d) are utilised by the
subsidiary company for its principal
business activities.
(4) If any loan is advanced or a guarantee
or security is given or provided or utilised in
contravention of the provisions of this
section,—
(i) the company shall be punishable with
fine which shall not be less than five lakh
rupees but which may extend to twenty-
five lakh rupees;
(ii) every officer of the company who is in
default
shall
be
punishable
with
imprisonment for a term which may extend
to six months or with fine which shall not
be less than five lakh rupees but which may
extend to twenty-five lakh rupees; and
(iii) the director or the other person to
whom any loan is advanced or guarantee
or security is given or provided in
connection with any loan taken by him or
the other person, shall be punishable with
imprisonment which may extend to six
months or with fine which shall not be less
than five lakh rupees but which may extend
to twenty-five lakh rupees, or with both.’.
62. Amendment of section 186.— In section
186 of the principal Act,—
(i) in sub-section (2), the following
Explanation shall be inserted, namely:—
‘Explanation.— For the purposes of this
sub-section, the word “person” does not
include any individual who is in the
employment of the company.’;
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(ii) for sub-section (3), the following sub-
-section shall be substituted, namely:—
‘(3) Where the aggregate of the loans and
investment so far made, the amount for
which guarantee or security so far provided
to or in all other bodies corporate along with
the investment, loan, guarantee or security
proposed to be made or given by the Board,
exceed the limits specified under sub-
-section (2), no investment or loan shall be
made or guarantee shall be given or
security shall be provided unless previously
authorised by a special resolution passed
in a general meeting:
Provided that where a loan or guarantee
is given or where a security has been
provided by a company to its wholly owned
subsidiary company or a joint venture
company, or acquisition is made by a
holding company, by way of subscription,
purchase or otherwise of, the securities of
its wholly owned subsidiary company, the
requirement of this sub-section shall not
apply:
Provided further that the company shall
disclose the details of such loans or
guarantee or security or acquisition in the
financial statement as provided under sub-
section (4).”.
(iii) for sub-section (11), the following sub-
-section shall be substituted, namely:—
“(11) Nothing contained in this section,
except sub-section (1), shall apply—
(a) to any loan made, any guarantee
given or any security provided or any
investment made by a banking company,
or an insurance company, or a housing
finance company in the ordinary course
of its business, or a company established
with the object of and engaged in the
business
of
financing
industrial
enterprises, or of providing infrastructural
facilities;
(b) to any investment—
(i) made by an investment company;
(ii) made in shares allotted in pursuance
of clause (a) of sub-section (1) of section 62
or in shares allotted in pursuance of rights
issues made by a body corporate;
(iii) made, in respect of investment or
lending activities, by a non-banking
financial company registered under
Chapter III-B of the Reserve Bank of India
Act, 1934 and whose principal business is
acquisition of securities.”;
(iv) in the Explanation, in clause (a), after
the words “other securities” the following
shall be inserted, namely:—
“and a company will be deemed to be
principally engaged in the business of
acquisition of shares, debentures or other
securities, if its assets in the form of
investment in shares, debentures or other
securities constitute not less than fifty per
cent. of its total assets, or if its income
derived
from
investment
business
constitutes not less than fifty per cent. as a
proportion of its gross income.”.
63. Amendment of section 188.— In section
188 of the principal Act,—
(i) in sub-section (1), after the second
proviso, the following proviso shall be
inserted, namely:—
“Provided also that nothing contained in
the second proviso shall apply to a company
in which ninety per cent. or more members,
in number, are relatives of promoters or are
related parties:”;
(ii) in sub-section (3), for the words “shall
be voidable at the option of the Board”, the
words “shall be voidable at the option of the
Board or, as the case may be, of the
shareholders” shall be substituted.
64. Omission of section 194.— Section 194
of the principal Act shall be omitted.
65. Omission of section 195.— Section 195
of the principal Act shall be omitted.
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66. Amendment of section 196.— In section
196 of the principal Act,—
(a) in sub-section (3), in clause (a), after the
proviso, the following proviso shall be
inserted, namely:—
“Provided further that where no such
special resolution is passed but votes cast
in favour of the motion exceed the votes, if
any, cast against the motion and the Central
Government is satisfied, on an application
made by the Board, that such appointment
is most beneficial to the company, the
appointment of the person who has attained
the age of seventy years may be made.”;
(b) in sub-section (4), for the words
“specified in that Schedule”, the words
“specified in Part I of that Schedule” shall be
substituted.
67. Amendment of section 197.— In section
197 of the principal Act,—
(a) in sub-section (1),—
(i) in the first proviso, the words “with
the approval of the Central Government,”
shall be omitted;
(ii) in the second proviso, after the words
“general meeting,”, the words “by a special
resolution,” shall be inserted;
(iii) after the second proviso, the following
proviso shall be inserted, namely:—
“Provided also that, where the
company has defaulted in payment of
dues to any bank or public financial
institution or non-convertible debenture
holders or any other secured creditor, the
prior approval of the bank or public
financial institution concerned or the non-
-convertible debenture holders or other
secured creditor, as the case may be,
shall be obtained by the company before
obtaining the approval in the general
meeting.”;
(b) in sub-section (3), the words “and if it
is not able to comply with such provisions,
with the previous approval of the Central
Government” shall be omitted;
(c) for sub-section (9), the following
sub-section shall be substituted, namely:—
“(9) If any director draws or receives,
directly
or
indirectly,
by
way
of
remuneration any such sums in excess of
the limit prescribed by this section or
without approval required under this
section, he shall refund such sums to the
company, within two years or such lesser
period as may be allowed by the company,
and until such sum is refunded, hold it in
trust for the company.”;
(d) in sub-section (10),—
(i) for the words “permitted by the Central
Government”, the words “approved by the
company by special resolution within two
years from the date the sum becomes
refundable” shall be substituted;
(ii) the following proviso shall be inserted,
namely:—
“Provided that where the company has
defaulted in payment of dues to any bank
or public financial institution or non-
-convertible debenture holders or any
other secured creditor, the prior approval
of the bank or public financial institution
concerned or the non-convertible
debenture holders or other secured
creditor, as the case may be, shall be
obtained by the company before
obtaining approval of such waiver.”;
(e) in sub-section (11), the words “and if
such conditions are not being complied, the
approval of the Central Government had been
obtained” shall be omitted;
(f) after sub-section (15), the following
sub-sections shall be inserted, namely:—
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“(16) The auditor of the company shall,
in his report under section 143, make a
statement as to whether the remuneration
paid by the company to its directors is in
accordance with the provisions of this
section, whether remuneration paid to any
director is in excess of the limit laid down
under this section and give such other
details as may be prescribed.
(17) On and from the commencement of
the Companies (Amendment) Act, 2017, any
application made to the Central Government
under the provisions of this section [as it
stood before such commencement], which
is pending with that Government shall
abate, and the company shall, within one
year of such commencement, obtain the
approval in accordance with the provisions
of this section, as so amended.”.
68. Amendment of section 198.— In section
198 of the principal Act,—
(i) in sub-section (3),—
(a) in clause (a), after the words “sold by
the company”, the words, letter, brackets
and figures “unless the company is an
investment company as referred to in clause
(a) of the Explanation to section 186” shall
be inserted;
(b) after clause (e), the following clause
shall be inserted, namely:—
“(f)
any
amount
representing
unrealised gains, notional gains or
revaluation of assets.”;
(ii) in sub-section (4), in clause (l), the words
“which begins at or after the commencement
of this Act” shall be omitted.
69. Amendment of section 200.— In section
200 of the principal Act, the words “the Central
Government or” appearing at both the places
shall be omitted.
70. Amendment of section 201.— In section
201 of the principal Act,—
(a) in sub-section (1), for the words “this
Chapter”, the word and figures “section 196”
shall be substituted;
(b) in sub-section (2), in clause (a), for the
words “any of the sections aforesaid”, the
word and figures “section 196” shall be
substituted.
71. Amendment of section 216.— In section
216 of the principal Act, in sub-section (1),—
(i) in clause (b), for the word “company”,
the words “company; or” shall be substituted;
(ii) after clause (b), the following clause
shall be inserted, namely:—
“(c) who have or had beneficial interest
in shares of a company or who are or have
been beneficial owners or significant
beneficial owner of a company.”.
72. Amendment of section 223.— In section
223 of the principal Act, in sub-section (3), after
the words “may be obtained”, the words “by
members, creditors or any other person whose
interest is likely to be affected” shall be
inserted.
73. Amendment of section 236.— In section
236 of the principal Act, in sub-sections (4),
(5) and (6), for the words, “transferor
company”, wherever they occur, the words
“company
whose
shares
are
being
transferred” shall be substituted.
74. Amendment of section 247.— In section
247 of the principal Act, in sub-section (2), in
clause (d), for the words “during or after the
valuation of assets”, the words “during a
period of three years prior to his appointment
as valuer or three years after the valuation of
assets was conducted by him” shall be
substituted.
75. Amendment of section 366.— In section
366 of the principal Act, in sub-section (2),—
(i) for the words “seven or more members”,
the words “two or more members” shall be
substituted;
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(ii) in the proviso, after clause (vi), the
following clause shall be inserted, namely:—
“(vii) a company with less than seven
members shall register as a private
company.”.
76. Amendment of section 374.— In section
374 of the principal Act, after clause (d), the
following proviso shall be inserted, namely:—
“Provided that upon registration as a
company under this Part a limited liability
partnership incorporated under the Limited
Liability Partnership Act, 2008 shall be
deemed to have been dissolved under that
Act without any further act or deed.”.
77. Amendment of section 379.— Section
379 of the principal Act shall be renumbered
as sub-section (2) thereof and before sub-
-section (2) as so renumbered, the following
sub-section shall be inserted, namely:—
“(1) Sections 380 to 386 (both inclusive)
and sections 392 and 393 shall apply to all
foreign companies:
Provided that the Central Government
may, by Order published in the Official
Gazette, exempt any class of foreign
companies, specified in the Order, from any
of the provisions of sections 380 to 386 and
sections 392 and 393 and a copy of every
such Order shall, as soon as may be after it
is made, be laid before both Houses of
Parliament.”.
78. Amendment of section 384.— In section
384 of the principal Act, in sub-section (2), after
the word and figures “section 92”, the words
and figures “and section 135” shall be
inserted.
79. Amendment of section 391.— In section
391 of the principal Act, for sub-section (2),
the following sub-section shall be substituted,
namely:—
“(2) Subject to the provisions of section
376, the provisions of Chapter XX shall apply
mutatis mutandis for closure of the place of
business of a foreign company in India as if
it were a company incorporated in India in
case such foreign company has raised
monies through offer or issue of securities
under this Chapter which have not been
repaid or redeemed.”.
80. Amendment of section 403.— In section
403 of the principal Act,—
(i) in sub-section (1), for the first and second
provisos, the following provisos shall be
substituted, namely:—
“Provided that where any document, fact
or information required to be submitted,
filed, registered or recorded, as the case
may be, under section 92 or 137 is not
submited, filed, registered or recorded, as
the case may be, within the period provided
in those sections, without prejudice to any
other legal action or liability under this Act,
it may be submitted, filed, registered or
recorded, as the case may be, after expiry
of the period so provided in those sections,
on payment of such additional fee as may
be prescribed, which shall not be less than
one hundred rupees per day and different
amounts may be prescribed for different
classes of companies:
Provided further that where the
document, fact or information, as the case
may be, in cases other than referred to in
the first proviso, is not submitted, filed,
registered or recorded, as the case may be,
within the period provided in the relevant
section, it may, without prejudice to any
other legal action or liability under this Act,
be submitted, filed, registered or recorded
as the case may be, on payment of such
additional fee as may be prescribed and
different fees may be prescribed for different
classes of companies:
Provided also that where there is default
on two or more occasions in submitting,
filing, registering or recording of the
document, fact or information, it may,
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2161
without prejudice to any other legal action
or liability under this Act, be submitted,
filed, registered or recorded, as the case
may be, on payment of a higher additional
fee, as may be prescribed and which shall
not be lesser than twice the additional fee
provided under the first or the second
proviso as applicable.”;
(ii) for sub-section (2), the following sub-
-section shall be substituted, namely:—
“(2) Where a company fails or commits
any default to submit, file, register or record
any document, fact or information under
sub-section (1) before the expiry of the
period specified in the relevant section, the
company and the officers of the company
who are in default, shall, without prejudice
to the liability for the payment of fee and
additional fee, be liable for the penalty or
punishment provided under this Act for
such failure or default.”.
81. Substitution of new section for section
406.— For section 406 of the principal Act, the
following section shall be substituted,
namely:—
‘406. Provision relating to Nidhis and its
application, etc.— (1) In this section,
“Nidhi” or “Mutual Benefit Society” means
a company which the Central Government
may, by notification in the Official Gazette,
declare to be a Nidhi or Mutual Benefit
Society, as the case may be.
(2) The Central Government may, by
notification in the Official Gazette, direct that
any of the provisions of this Act specified in
the notification—
(a) shall not apply to any Nidhi or
Mutual Benefit Society; or
(b) shall apply to any Nidhi or Mutual
Benefit Society with such exceptions,
modifications and adaptations as may be
specified in the notification.
(3) A copy of every notification proposed
to be issued under sub-section (2), shall be
laid in draft before each House of
Parliament, while it is in session, for a total
period of thirty days, and if, both Houses
agree in disapproving the issue of
notification or both Houses agree in making
any modification in the notification, the
notification shall not be issued or, as the
case may be, shall be issued only in such
modified form as may be agreed upon by
both the Houses.
(4) In reckoning any such period of thirty
days as is referred to in sub-section (3), no
account shall be taken of any period during
which the House referred to in sub-section
(3) is prorogued or adjourned for more than
four consecutive days.
(5) The copies of every notification issued
under this section shall, as soon as may be
after it has been issued, be laid before each
House of Parliament.’.
82. Amendment of section 409.— In section
409 of the principal Act, in sub-section (3),—
(i) in clause (a), for the words “out of which
at least three years shall be in the pay scale of
Joint Secretary to the Government of India or
equivalent or above in that service”, the
words “and has been holding the rank of
Secretary or Additional Secretary to the
Government of India” shall be substituted;
(ii) for clause (e), the following clause shall
be substituted, namely:—
“(e) is a person of proven ability, integrity
and standing having special knowledge
and professional experience of not less than
fifteen years in industrial finance, industrial
management, industrial reconstruction,
investment and accountancy.”.
83. Amendment of section 410.— In section
410 of the principal Act, for the words “orders
of the Tribunal”, the words “orders of the
Tribunal or of the National Financial Reporting
Authority” shall be substituted.
84. Amendment of section 411.— In section
411 of the principal Act, for sub-section (3),
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2162
the following sub-section shall be substituted,
namely:—
“(3) A technical member shall be a person
of proven ability, integrity and standing
having special knowledge and professional
experience of not less than twenty-five
years in industrial finance, industrial
management, industrial reconstruction,
investment and accountancy.”.
85. Amendment of section 412.— In section
412 of the principal Act, for sub-section (2),
the following sub-sections shall be substituted,
namely:—
“(2) The Members of the Tribunal and the
Technical Members of the Appellate
Tribunal shall be appointed on the
recommendation of a Selection Committee
consisting of—
(a) Chief Justice of India or his nominee
—Chairperson;
(b) a senior Judge of the Supreme Court
or Chief Justice of High Court —Member;
(c) Secretary in the Ministry of
Corporate Affairs —Member; and
(d) Secretary in the Ministry of Law
and Justice —Member.
(2A) Where in a meeting of the
Selection Committee, there is equality
of votes on any matter, the Chairperson
shall have a casting vote.”.
86. Amendment of section 435.— For section
435 of the principal Act, the following shall be
substituted, namely:—
“435. Establishment of Special Courts.—
(1) The Central Government may, for the
purpose of providing speedy trial of offences
under this Act, by notification, establish or
designate as many Special Courts as may
be necessary.
(2) A Special Court shall consist of—
(a) a single judge holding office as Session
Judge or Additional Session Judge, in case
of offences punishable under this Act with
imprisonment of two years or more; and
(b) a Metropolitan Magistrate or a
Judicial Magistrate of the First Class, in the
case of other offences,
who shall be appointed by the Central
Government with the concurrence of the
Chief Justice of the High Court within whose
jurisdiction the judge to be appointed is
working.”.
87. Amendment of section 438.— In section
438 of the principal Act, for the words “deemed
to be a Court of Session”, the words “deemed
to be a Court of Session or the court of
Metropolitan Magistrate or a Judicial
Magistrate of the First Class, as the case may
be,” shall be substituted.
88. Amendment of section 439.— In section
439 of the principal Act, in sub-section (2), after
the words “a shareholder”, the words “or a
member” shall be inserted.
89. Amendment of section 440.— In section
440 of the principal Act, for the words “Court
of Session”, at both the places, the words
“Court of Session or the Court of Metropolitan
Magistrate or a Judicial Magistrate of the First
Class, as the case may be” shall be substituted.
90. Amendment of section 441.— In section
441 of the principal Act, in sub-section (1), for
the words “with fine only”, the words
“not being an offence punishable with
imprisonment only, or punishable with
imprisonment and also with fine” shall be
substituted.
91. Insertion of new section 446A.— After
section 446 of the principal Act, the following
sections shall be inserted, namely:—
“446A. Factors for determining level of
punishment.— The court or the Special
Court, while deciding the amount of fine or
imprisonment under this Act, shall have due
regard to the following factors, namely:—
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(a) size of the company;
(b) nature of business carried on by the
company;
(c) injury to public interest;
(d) nature of the default; and
(e) repetition of the default.
446B. Lesser penalties for One Person
Companies or small companies.— Notwith-
standing anything contained in this Act, if
a One Person Company or a small company
fails to comply with the provisions of sub-
-section (5) of section 92, sub-section (2) of
section 117 or sub-section (3) of section 137,
such company and officer in default of such
company shall be punishable with fine or
imprisonment or fine and imprisonment, as
the case may be, which shall not be more
than one-half of the fine or imprisonment or
fine and imprisonment, as the case may be,
of the minimum or maximum fine or
imprisonment or fine and imprisonment,
as the case may be, specified in such
sections.”.
92. Amendment of section 447.— In section
447 of the principal Act,—
(i) after the words “guilty of fraud”, the
words “involving an amount of at least ten
lakh rupees or one per cent. of the turnover of
the company, whichever is lower” shall be
inserted;
(ii) after the proviso, the following proviso
shall be inserted, namely:—
“Provided further that where the fraud
involves an amount less than ten lakh rupees
or one per cent. of the turnover of the
company, whichever is lower, and does not
involve public interest, any person guilty of
such fraud shall be punishable with
imprisonment for a term which may extend
to five years or with fine which may extend
to twenty lakh rupees or with both.”.
93. Amendment of section 458.— In section
458 of the principal Act, in sub-section (1), the
proviso shall be omitted.
Notification
10/6/2018-LA-138
The Indian Forest (Amendment) Act, 2017
(Central Act No. 5 of 2018), which has been
passed by Parliament and assented to by the
President on 5-1-2018 and published in
the Gazette of India, Extraordinary, Part II,
Section 1 dated 8-1-2018, is hereby published
for the general information of the public.
Julio Barbosa Noronha, Joint Secretary
(Law).
Porvorim, 14th June, 2018.
________
THE INDIAN FOREST (AMENDMENT)
ACT, 2017
AN
ACT
further to amend the Indian Forest Act, 1927.
Be it enacted by Parliament in the Sixty-
-eighth Year of the Republic of India as
follows:—
1. Short title and commencement.— (1) This
Act may be called the Indian Forest
(Amendment) Act, 2017.
(2) It shall be deemed to have come into
force on the 23rd day of November, 2017.
2. Amendment of section 2 of Act 16 of
1927.— In the Indian Forest Act, 1927, in
section 2, in clause (7), the word “bamboos”
shall be omitted.
3. Repeal and saving.— (1) The
Indian
Forest
(Amendment)
Ordinance, 2017 is hereby repealed.
(2) Notwithstanding such repeal,
anything done or any action taken
under the Indian Forest Act, 1927, as
amended by the said Ordinance,
shall be deemed to have been done
or taken under the corresponding
provisions of the said Act, as
amended by this Act.
Ord. 6 of
2017.
16 of 1927.
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Notification
10/6/2018-LA-139
The Appropriation (No. 5) Act, 2017 (Central Act No. 6 of 2018), which has been passed by
Parliament and assented to by the President on 18-1-2018 and published in the Gazette of
India, Extraordinary, Part II, Section 1 dated 19-1-2018, is hereby published for the general
information of the public.
Julio Barbosa Noronha, Joint Secretary (Law).
Porvorim, 14th June, 2018.
———
THE APPROPRIATION (No. 5) ACT, 2017
AN
ACT
to authorise payment and appropriation of certain further sums from and out of the Consolidated
Fund of India for the services of the financial year 2017-18.
Be it enacted by Parliament in the Sixty-eighth Year of the Republic of India as follows:—
1. Short title.— This Act may be called the Appropriation (No. 5) Act, 2017.
2. Issue of Rs. 66113,34,00,000 out of the Consolidated Fund of India for the financial year
2017-18.— From and out of the Consolidated Fund of India there may be paid and applied sums
not exceeding those specified in column 3 of the Schedule amounting in the aggregate to the
sum of sixty-six thousand one hundred thirteen crore and thirty-four lakh rupees towards
defraying the several charges which will come in the course of payment during the financial
year 2017-18 in respect of the services specified in column 2 of the Schedule.
3. Appropriation.— The sums authorised to be paid and applied from and out of the
Consolidated Fund of India by this Act shall be appropriated for the services and purposes
expressed in the Schedule in relation to the said year.
THE SCHEDULE
(See sections 2 and 3)
1
2
3
Sums not exceeding
No. of
Services and purposes
Voted
Charged on the
Total
Vote
by Parliament
Consolidated
Fund
Rs.
Rs.
Rs.
1 Department of Agriculture, Co-operation and
Farmers’ Welfare ………………………………
Revenue
2,00,000
...
2,00,000
Capital
1,00,000
...
1,00,000
2 Department of Agricultural Research and
Education …………………………………….
Revenue 192,00,00,000
...
192,00,00,000
3 Department of Animal Husbandry, Dairying
and Fisheries…………………………………
Revenue
2,00,000
...
2,00,000
4 Atomic Energy…………………………………
Revenue 688,26,00,000
...
688,26,00,000
Capital
278,73,00,000
...
278,73,00,000
5 Ministry of Ayurveda, Yoga and Naturopathy
Unani, Siddha and Homeoupathy (AYUSH) ... Revenue 101,15,00,000
...
101,15,00,000
Capital
28,00,00,000
28,00,00,000
OFFICIAL GAZETTE — GOVT. OF GOA
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2165
1
2
3
7 Department of Fertilisers ......................................Revenue 20532,51,00,000
... 20532,51,00,000
8 Department of Pharmaceuticals ......................... Revenue
18,35,00,000
...
18,35,00,000
9 Ministry of Civil Aviation………….…………… Revenue
85,22,00,000
...
85,22,00,000
Capital
1,00,000
...
1,00,000
11 Department of Commerce……………………... Revenue 1077,52,00,000
...
1077,52,00,000
Capital
59,00,00,000
...
59,00,00,000
12 Department of Industrial Policy and Promotion Revenue
4,00,000
...
4,00,000
Capital
1,00,000
...
1,00,000
13 Department of Posts ............................................... Revenue
204,00,00,000
3,01,00,000
207,01,00,000
Capital
216,00,00,000
...
216,00,00,000
14 Department of Telecommunications………… Revenue
2,00,000
...
2,00,000
Capital
35,00,00,000
...
35,00,00,000
15 Department of Consumer Affairs ........................ Revenue
1,00,000
...
1,00,000
Capital
8,50,00,000
...
8,50,00,000
16 Department of Food and Public Distribution.. Revenue
3486,99,00,000
2,00,000
3487,01,00,000
Capital
2,00,000
...
2,00,000
17 Ministry of Corporate Affairs…………………. Revenue
40,79,00,000
...
40,79,00,000
18 Ministry of Culture…………………….……….
Revenue
2,00,000
...
2,00,000
Capital
1,00,000
...
1,00,000
19 Ministry of Defence (Misc.)……………………
Capital
500,00,00,000
...
500,00,00,000
20 Defence Services (Revenue)…………….…….
Revenue 2954,66,00,000
...
2954,66,00,000
23 Ministry of Development of North Eastern
Region…………………………………….........…
Revenue
65,00,00,000
...
65,00,00,000
24 Ministry of Drinking Water and Sanitation… Revenue
40,00,000
...
40,00,000
26 Ministry of Electronics and Information
Technology………………………………………. Revenue
1,00,000
...
1,00,000
Capital
1,00,000
...
1,00,000
27 Ministry of Environment, Forests and .............. Revenue 372,03,00,000
...
372,03,00,000
Climate Change
Capital
1,00,000
...
1,00,000
28 Ministry of External Affairs…………………… Revenue
1,00,000
...
1,00,000
Capital
2,00,000
...
2,00,000
29 Department of Economic Affairs…………...… Revenue
36,02,00,000
...
36,02,00,000
Capital
100,03,00,000
...
100,03,00,000
31 Department of Financial Services……………
Revenue
4,00,000
...
4,00,000
Capital
292,00,00,000
...
292,00,00,00
33 Department of Revenue ……………………….
Revenue
43,69,00,000
...
43,69,00,000
34 Direct Taxes ……………………….…….……....
Capital
1,00,000
...
1,00,000
35 Indirect Taxes ……………………….…….……
Revenue 1210,49,00,000
...
1210,49,00,000
36 Indian Audit and Accounts Department ..…
Revenue
85,77,00,000
...
85,77,00,000
39 Pension ……………………………………..……
Revenue 5905,00,00,000
95,00,00,000
6000,00,00,000
41 Ministry of Food Processing Industries …...... Revenue
2,00,000
...
2,00,000
42 Department of Health and Family Welfare...... Revenue 6687,52,00,000
...
6687,52,00,000
Capital
271,01,00,000
...
271,01,00,000
43 Department of Health Research…………........ Revenue 243,39,00,000
...
243,39,00,000
44 Department of Heavy Industry ………… ........
Revenue
1,00,000
...
1,00,000
46 Ministry of Home Affairs …………………....… Revenue
4,04,00,000
...
4,04,00,000
47 Cabinet ………………………………… .............
Revenue
20,00,00,000
...
20,00,00,000
48 Police ……………………………………. ...........
Revenue 4292,86,00,000
...
4292,86,00,000
Capital
1,00,000
...
1,00,000
49 Andaman and Nicobar Islands….……. ..........
Revenue 100,00,00,000
...
100,00,00,000
Capital
416,02,00,000
...
416,02,00,000
50 Chandigarh….………………………… ..............
Revenue
67,77,00,000
...
67,77,00,000
Capital
7,00,000
317,58,00,000
317,65,00,000
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2166
1
2
3
52 Daman and Diu .....................................................
Revenue
4,00,000
...
4,00,000
Capital
20,01,00,000
...
20,01,00,000
53 Lakshadweep .......................................................
Revenue
2,00,000
...
2,00,000
Capital
9,00,000
...
9,00,000
56 Ministry of Housing and Urban Poverty
Alleviation .............................................................
Revenue
1,00,000
...
1,00,000
57 Department of School Education and
Literacy ........................................................................
Revenue
650,03,00,000
...
650,03,00,000
58 Department of Higher Education .......................
Revenue 1532,76,00,000
...
1532,76,00,000
59 Ministry of Information and Broadcasting ..
Revenue
3,00,000
...
3,00,000
60 Ministry of Labour and Employment …........
Revenue
2,00,000
...
2,00,000
Capital
1,00,000
...
1,00,000
61 Law and Justice ……………………. .............
Revenue
1,00,000
...
1,00,000
Capital
46,26,00,000
...
46,26,00,000
62 Election Commission..……………….. .........
Revenue
5,00,00,000
...
5,00,00,000
Capital
38,79,00,000
...
38,79,00,000
CHARGED.—Supreme Court of India ….........
Revenue
...
8,00,00,000
8,00,00,000
64 Ministry of Micro, Small and Medium
Enterprises……………………………………
Revenue
2,00,000
...
2,00,000
65 Ministry of Mines……………………… .........
Revenue
47,00,00,000
...
47,00,00,000
66 Ministry of Minority Affairs…………….. ......
Revenue
4,00,000
...
4,00,000
67 Ministry of New and Renewable Energy ........ Revenue
1,00,000
...
1,00,000
68 Ministry of Panchayati Raj …………………..... Revenue
1,00,000
...
1,00,000
69 Ministry of Parliamentary Affairs ………. ....... Revenue
50,00,000
...
50,00,000
70 Ministry of Personnel, Public Grievances
and Pensions …………………………........……. Revenue 196,67,00,000
...
196,67,00,000
Capital
1,00,000
...
1,00,000
CHARGED.— Central Vigilance Commission.. Revenue
...
3,35,00,000
3,35,00,000
72 Ministry of Petroleum and Natural Gas …..… Revenue
3,02,00,000
...
3,02,00,000
Capital
300,00,00,000
...
300,00,00,000
73 Ministry of Planning …………………..………
Revenue
27,27,00,000
...
27,27,00,000
74 Ministry of Power …………………… ................ Revenue 2995,55,00,000
...
2995,55,00,000
Capital
1,00,000
...
1,00,000
78 Secretariat of the Vice-President … ................
Revenue
1,28,00,000
...
1,28,00,000
CHARGED.—Union Public Service Commission Revenue
...
12,11,00,000
12,11,00,000
80 Ministry of Railways .............................................
Capital
1,00,000
...
1,00,000
81 Ministry of Road Transport and Highways…. Revenue
2,00,000
...
2,00,000
Capital
1,00,000
...
1,00,000
82 Department of Rural Development …… ......... Revenue 8394,59,00,000
...
8394,59,00,000
84 Department of Science and Technology ......... Revenue
1,00,000
...
1,00,000
Capital
5,00,00,000
...
5,00,00,000
85 Department of Biotechnology ………… .......... Revenue
38,00,00,000
...
38,00,00,000
87 Ministry of Shipping ……………………........... Revenue
2,00,000
...
2,00,000
88 Ministry of Skill Development and
Entrepreneurship………………………….......
Revenue
1,00,000
...
1,00,000
89 Department of Social Justice and
Empowerment………………………… ......
Revenue
1,51,00,000
...
1,51,00,000
90 Department of Empowerment of Persons
with Disabilities………………………….......
Revenue
1,00,000
...
1,00,000
91 Department of Space …………………...........
Revenue
61,78,00,000
...
61,78,00,000
Capital
3,40,00,000
...
3,40,00,000
94 Ministry of Textiles …………………….. ........
Revenue
24,25,00,000
...
24,25,00,000
Capital
1,00,000
...
1,00,000
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2167
1
2
3
95 Ministry of Tourism ……………………. ..........
Revenue
1,00,000
...
1,00,000
96 Ministry of Tribal Affairs ……………………..
Revenue
3,00,00,000
...
3,00,00,000
97 Ministry of Urban Development …………....... Revenue
50,01,00,000
...
50,01,00,000
Capital
86,02,00,000
...
86,02,00,000
98 Ministry of Water Resources, River
Development and Ganga Rejuvenation… .....
Revenue 330,08,00,000
...
330,08,00,000
Capital
1,00,000
...
1,00,000
99 Ministry of Women and Child Development.. Revenue
3,00,000
...
3,00,000
100 Ministry of Youth Affairs and Sports … ........
Revenue
1,00,000
96,88,00,000
TOTAL
65577,40,00,000
535,94,00,000 66113,34,00,000
———ttt———
Department of Town & Country Planning
__
Notification
29/8/TCP/2015-18(Pt. file)/2391
In exercise of the powers conferred by sections 100A and 101A of the Goa, Daman and Diu
Town and Country Planning Act, 1974 (Act 21 of 1975) and in supersession of the Government
Notification No. 21/1/TCP/2001/1725 dated 13-6-2001, published in the Official Gazette, Series I
No. 12 dated 21-06-2001, the Government of Goa hereby specifies the rate of fee for processing
of applications for change of zone of land in the Regional Plan and for change of zone of land, as
follows, namely:—
Rate of processing fee and rate of fee for change of zone
(1)
(2)
(3)
(4)
(5)
Area of the land in
Processing fee
Fee for change of zone
Fee for change of zone
Fee for change of zone
respect of which
in Rs.
to settlement zone or
to Industrial zone per
to Institutional zone
change of zone is
sub-zone settlement
sq. mtr. of land
and others per sq. mtr.
proposed
(Commercial) per sq.
of land
mtr. of land
Upto 500 sq. mtrs.
Rs. 5,000
Nil
Rs. 100
Rs. 50
501 sq. mtrs. to
1,000 sq. mtrs.
Rs. 7,500
Rs. 50
Rs. 150
Rs. 50
1,001 sq. mtrs.
to 2,000 sq. mtrs.
Rs. 10,000
Rs. 75
Rs. 150
Rs. 50
2,001 sq. mtrs. to
5,000 sq. mtrs.
Rs. 15,000
Rs. 100
Rs. 150
Rs. 50
5,001 sq. mtrs.
to 10,000 sq. mtrs.
Rs. 20,000
Rs. 125
Rs. 200
Rs. 100
10,001 sq. mtrs.
to 20,000 sq. mtrs.
Rs. 30,000
Rs. 150
Rs. 300
Rs. 100
Above 20,001
sq. mtrs.
Rs. 50,000
Rs. 200
Rs. 400
Rs. 150
Note:- (1) The rate of fee specified in column Nos. (2), (3), (4) and (5) above are applicable for land in V.P-2 category
villages in Talukas of Pernem, Bardez, Tiswadi, Ponda, Mormugao, Salcete and Canacona as identified in
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 34
22ND NOVEMBER, 2018
2168
www.goaprintingpress.gov.in
Printed and Published by the Director, Printing & Stationery,
Government Printing Press,
Mahatma Gandhi Road, Panaji-Goa 403 001.
PRICE – Rs. 38.00
PRINTED AT THE GOVERNMENT PRINTING PRESS, PANAJI-GOA—258/160—11/2018.
Release-3 Report of Regional Plan 2021: Provided that, the rate of fee in respect of VP-2 category villages in the
Talukas of Bicholim, Sattari, Quepem, Sanguem and Dharbandora, as identified in Release-3 Report of
Regional Plan 2021, shall be 80% of the rate of fee specified in column Nos. (2), (3), (4) and (5) above:
Provided further that, no fee shall be levied for change of zone in the case of application made, where land use
zones had been reverted from settlement zone in Regional Plan 2001 to non- developable zone in Regional Plan
2021.
(2) The rate of fee for land in VP-1 category villages and M2 class Municipal areas/coastal villages, shall be
increased by 20% and 40%, respectively, over the rate specified for VP-2 category villages.
(3) The rate of fee for change of zone from Industrial zone to Settlement Zone shall be as specified in column
No. (3) above and the rate of fee for change of zone from Settlement Zone to Industrial Zone shall be as
specified in column No. (4) above.
By order and in the name of the Governor of Goa.
Daulat Hawaldar, IAS, Secretary (TCP).
Panaji, 20th November, 2018.