In section 2 of the Companies Act, 2013 (hereinafter referred to as the principal Act),—

in clause (6), for the Explanation, the following Explanation shall be substituted, namely:—

'Explanation.— For the purpose of this clause,—

1. 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;
2. 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;';

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;';

in clause (30), the following proviso shall be inserted, namely:—

"Provided that—

1. the instruments referred to in Chapter III-D of the Reserve Bank of India Act, 1934; and
2. 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;";

in clause (41), in the first proviso, after the word "subsidiary ", the words "or associate company " shall be inserted;

in clause (46), the following Explanation shall be inserted, namely:-

'Explanation. — For the purposes of this clause, the expression "company " includes any body corporate;';

clause (49) shall be omitted;

in clause (51),—

1. in sub-clause (iv), the word "and " shall be omitted;
2. for sub-clause (v), the following sub-clauses shall be substituted, namely:—

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;

in clause (71), in sub-clause (a), after the word "company;", the word "and " shall be inserted;

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;

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.

in clause (85),—

1. in sub-clause (i), for the words "five crore rupees ", the words "ten crore rupees " shall be substituted;
2. in sub-clause (ii),—

in clause (87), in sub-clause (ii), for the words “total share capital”, the words “total voting power” shall be substituted;

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;'.