In exercise of powers under the Section 462(1) of Companies Act, 2013 (“the Act”), the MCA has exempted the Companies which are licensed to operate by the RBI or SEBI or IRDA from the International Financial Services Centre (“IFSC”) located in an approved multi-services Special Economic Zone set-up under the Special Economic Zones Rules, 2006 (“IFSC Public/Private Company”).
Further, separate exemptions have been provided for public and private limited companies. To get a clear understanding refer the below mentioned article.
