Clarification on Applicability of Provisions of Section 108 A to 108 I of the Companies Act, 1956
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The Ministry of Corporate Affairs has issued following clarification on applicability of provisions of Section 108A to 108 I of the Companies Act, 1956:
“Sections 108A to 108 I of the Companies Act, 1956 were inserted in the Companies Act, 1956 through Monopolies and Restrictive Trade Practices (Amendment) Act, 1991. Section 108G (applicability of sections 108A to 108F) and Section 108H (construction of certain expressions used in Sections 108A to 108G) of the Companies Act, 1956 refer to the applicability of provisions of Sections 108A to 108F in reference to various requirements under the MRTP Act, 1969.
As MRTP Act, 1969 stands repealed, the legal validity of these provisions i.e. sections 108A to 108H of Companies Act, 1956 has been examined in the Ministry in consultation with the Ministry of Law & Justice and it has been observed that after the repeal of MRTP Act, 1969, the provisions of Section 108A to 108 I the Companies Act, 1956 have become redundant and will have no legal force”.
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