Explanation . — For the purpose of this clause,— — THE COMPANIES ACT, 2013

1 [Explanation . — For the purpose of this clause,— (a) 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; (b) the expression "j "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;] (7) " auditing standards " means the standards of auditing or any addendum thereto for companies or class of companies referred to in sub-section (10) of section 143; (8) " authorised capital " or " nominal capital " means such capital as is authorised by the memorandum of a company to be the maximum amount of share capital of the company; (9) " " banking company " means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949); (10) " Board of Directors " or " Board " , in relation to a company, means the collective body of the directors of the company; (11) " body corporate " or " corporation " includes a company incorporated outside India, but does not include — (i) a co-operative society registered under any law relating to co-operative societies; and (ii) any other body corporate (not being a company as defined in this Act), which the Central Government may, by notification, specify in this behalf; (12) " book and paper " and " book or paper " include books of account, deeds, vouchers, writings, documents, minutes and registers maintained on paper or in electronic form; (13) " books of account " includes records maintained in respect of—

Section 1