Tilak Sethi
Head - legal & Secretarial
[ Scorecard : 30]
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Posted On 15 July 2009 at 10:30
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In a JV Company wherein the Indian Listed Company is providing know how and in lieu of that the JV Company is allotting shares of 25%. Whether this will amount to investment under the provisions of Section 372A of the Companies Act, 1956 for the listed Company.
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Malav Shah
Company Secretary and AVP Legal
[ Scorecard : 157]
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Posted On 15 July 2009 at 11:19
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Hi Tilak
As per my view, it will be covered u/s 372A. Sec 372A(1)(c) covers acquisition of securities by way of subscripttion, purchase or otherwise. this means acquiring shares by any method is also covered.
Any other views please.
Regards
Malav
Total thanks : 1 times
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Tilak Sethi
Head - legal & Secretarial
[ Scorecard : 30]
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Posted On 15 July 2009 at 18:45
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Dear Mr. Malav,
I was also holding the same opinion, but since I could not find much details in Ramaiya, therefore, preferred to took second opinion before going ahead.
Regards,
Tilak Sethi
09871137917
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faisal majid
STUDENT
[ Scorecard : 22]
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Posted On 18 July 2009 at 22:24
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as mentioned by others i wl contradicting them and in my opinion here loan or investment are not making by the co because in co act loan and investment made U/S 372A is all along a unilateral transaction by the co. means co is not making investemnt or loan in dominating nature it was just an exchange or like a consideration.i think so
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