MCA UPDATE
In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 398 of the Companies Act, 2013, the Ministry of Corporate Affairs vide Notification dated 04.04.2016 amended the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2016 whereby in rule 3, for the proviso, the following proviso has been substituted:
"Provided that the companies in banking, insurance, power sector, non-banking financial companies and housing finance companies need not file financial statements under this rule.
