Section 216

Company deemed to be a public interest company in certain circumstances.—(1) Notwithstanding anything contained in this Act, a company shall be deemed to be a company with public interest as envisaged in the Third Schedule.

(2) Upon being deemed as a company with public interest, the company shall be required to comply with such disclosure and reporting requirements as may be specified by the Commission.

(3) The Commission may as specify, after giving an opportunity of hearing to a company or class of companies, by an order in writing exempt such company from the requirements of this section if the Commission determines that such exemption is in the interest of the public:

Provided that such order shall be posted on the official website of the Commission.