CLARIFICATION WITH REGARD TO HOLDING OF SHARES IN A FIDUCIARY CAPACITY BY ASSOCIATE COMPANY UNDER SECTION 2(6) OF THE COMPANIES ACT, 2013.

CLARIFICATION WITH REGARD TO HOLDING OF SHARES IN A FIDUCIARY CAPACITY BY ASSOCIATE COMPANY UNDER SECTION 2(6) OF THE COMPANIES ACT, 2013.

In continuation of the General Circular No. 20/2013 dated 27/12/2013, it is clarified that the shares held by a company in another company in a ‘fiduciary capacity’ shall not be counted for the purpose of determining the relationship of `associate company’ under section 2(6) of the Companies Act, 2013.

General Circular 24/2014, dated 25^th June 2014

http://mca.gov.in/Ministry/pdf/General_Circular_24_2014.pdf

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Note: Kindly note that the entire contents of this article have been developed on the basis of relevant statutory provisions and as per the information existing at the time of preparation i.e.  Act, notification, clarifications & circular issued till 25^th June 2014. Though we have made upmost efforts to provide authentic information, however we do not undertake any liability in any way whatsoever, to any person in respect of anything arising by reliance upon the content of this article

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