Approval u/s. 293
Querist : Anonymous
The provision of section 293 will not apply to transferring of investment whether in India or overseas.
The provision of section 291 deal with this matter which cover general power of the board subject to the MOA and AOA of the company.
Regards
Querist : Anonymous
Transfer of 100% shareholding in an wholly owned subsidiary company amounts to selling of an undertaking, hence, my argument is that it needs the approval of shareholders. pl clarify
Its not an undertaking, its an movable and it is stock, so the provision will not apply.
Querist : Anonymous
Querist : Anonymous
Please read Ramiaya under section 293 in heading "Sell, lease or otherwise dispose of.......undertaking (Sub section(1)(a)}
Querist : Anonymous
Querist : Anonymous
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