Can terminating a land development agreement amount to disposing off a substantial part of the undertaking of a business u/s 180 of the Companies Act, 2013?
Soham Banerjee (11 Points)
21 March 2017Can terminating a land development agreement amount to disposing off a substantial part of the undertaking of a business u/s 180 of the Companies Act, 2013?
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 22 March 2017
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 22 March 2017
Jatin Bajaj
(CS)
(2928 Points)
Replied 22 March 2017
AS PER SECTION 180(1)(A)- UNDERTAKING MEANS THE UNDERTAKING IN WHICH INVESTMENT OF THE COMPANY EXCEEDS 20% OF THE NET WORTH AS PER THE AUDITED BALANCE SHEET OF THE PREVIOUS YEAR OR AN UNDERTAKING WHICH GENERATES 20% OF THE TOTAL INCOME OF THE COMPANY DURING THE PRIVIOS FINANCIAL YEAR
SUBSTAINTIALLY THE WHOLE OF THE UNDERTAKING MEANS 20% OR MORE OF THE VALUE OF THE UNDERTAKING AS PER THE AUDITED BALANCE SHEET OF THE PREECEDING FINANCIAL YEAR
Soham Banerjee
(11 Points)
Replied 22 March 2017
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 22 March 2017
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