By a notification dated May 16, 2019, the Ministry of Corporate Affairs has notified the Companies (Appointment and Qualification of Directors) 2nd Amendment Rules, 2019 (“Amendment Rules”) to amend the Companies (Appointment and Qualification of Directors) Rules, 2014 (“Principal Rules”). The Amendment Rules have inserted Rule 12B to the Principal Rules which provides for the following:
The Amendment Rules have come into force on the date of their publication in the Official Gazette.
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